digital technology: the organizational quandary, qubit and forrester research
Post on 17-Oct-2014
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Qubit recently commissioned Forrester Consulting to carry out a research project on the difficulties marketers are facing in getting the most out of their digital marketing technology. Read on for the key findings from the whitepaper, 'Digital Technology: The Organizational Quandary', September 2013.TRANSCRIPT
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Qubit commissioned a Forrester Consulting survey to find out the issues marketers face with digital marketing technology
What did we learn?
The Organizational Quandary
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Executives support digital marketing technology
1.
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Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
“Do you have a marketing technology strategy in place today?”
Yes84%
“Do you agree with the following statements regarding you marketing technology strategy?”
Senior manager supports it
It is well defined
Successfully implementing it is key to delivering on revenue growth targets
It is tightly aligned with business and corporate strategies
It is tightly aligned with my IT strategy
91%
88%
86%
84%
81%
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Having no marketing technology strategy affects business
2.
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“Do you have a marketing technology strategy in place today?”
No16%
“Given that you do not have a marketing technology strategy in place today, do you agree with the following statements?”
It will negatively affect my firm’s ability to deliver on its revenue growth targets
It’s why my digital marketing technology is poorly integrated
It’s why my digital marketing technology is not clearly measured against the revenue it generates
It’s why my digital marketing technology does not support an end-to-end digital marketing workflow
It’s why my digital marketing technology is a joint cross- channel interaction with my customers
90%
87%
63%
60%
53%
Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
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Companies believe their digital marketing is integrated
3.
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Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
“Do you feel that your existing digital marketing technology is...”
Integrated; it supports end-to-end marketing workflows and multichannel campaign execution, which contribute to a unified customer experience across all digital channels
Somewhat integrated; it supports end-to-end marketing workflows and multichannel campaign execution but has gaps that affect its ability to deliver a unified customer experience across all digital channels
Channel-focused; it lacks a full end-to-end marketing workflow, which significantly affects my organisation’s ability to deliver a unified customer experience across all digital channels
43%
44%
13%
Breakdown of marketers with integrated digital marketing technology
By geography
US
UK
By company size
$10m - $99m
$100m - $499m
$500m - $999m
Over $1 billion
39%
50%
By vertical
Retail
Wholesaletrade
Travel, mediautilities
39%
50%
29%
12%
49%
44%
61%
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But the majority have existing digital marketing technology that lacks full integration
4.
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Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
“Which statement best reflects the state of your existing digital marketing technology?”
We use all of our digital marketing technology to its maximum capacity
We use all of our digital marketing technology, but don’t use (or underuse) some features and functionality
A small proportion of the marketing technology we invested in is “shelfware”
A significant proportion of the marketing technology we invested in is “shelfware”
44%
35%
12%
9%
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When marketing technology does not work, business costs increase and revenues suffer
5.
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Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
“What are the three biggest negative impacts to your business of your marketing technology not working for you?”
Increased cost of customer acquisition
Reduced new sales revenue
Reduced customer lifetime value
Decreased renewals
Increased marketing effort and costs
Increased customer churn
51%
52%
43%
40%
32%
30%
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Ecommerce and marketing own digital marketing technology
6.
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Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
“Which department controlled, controls, and will control the majority of your marketing technology budget?”
“Which department has been, is, and will be mostly managing the implementation and execution of your marketing technology?”
IT
Marketing
eCommerce
Operations
Other
Last financial year Current financial year Next financial year
IT
Marketing
eCommerce
Operations
Other
Last financial year Current financial year Next financial year
32%
30%
15%
16%
11%
16%
42%
41%
49%
56%
36%
56%
16%
22%
30%
24%
48%
24%
9%
7%
6%
3%
6%
3%
1%
0%
1%
1%
0%
0%
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Digital marketing toolkit expands to include optimization
7.
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Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
What are your firm’s plans to adopt the following digital marketing technologies?
Ad serving
Paid search
SEO
Web analytics
Mobile website
Product recommendations
Behavioral targeting
Bid management
Personalization platform
Multivariate testing
A/B testing
Audience acquisition
Measurement
Optimization
70%
64%
62%
56%
54%
54%
54%
48%
43%
43%
41%
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Optimizing digital experience is currently a top priority
8.
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Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
“Which of the following digital marketing strategies will be your two most important strategies this year?”
Optimize the digital customer experience
Deliver a consistent and improved customer experience across all channels
Optimize marketing spending
Grow marketing spending
Achieve greater agility with our digital marketing campaigns
Improve the effectiveness of our digital marketing technology in generating revenue
50%
36%
36%
33%
24%
22%
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Several factors interfere with effective marketing technology use
9.
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Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
“What are the top three factors preventing you from being more effective with your digital marketing technology?”
The structure of my organization’s marketing teams
Our marketing services partnerships aren’t always aligned with what we want to achieve with our digital marketing technology
We lack a well-defined and/or standard digital measurement strategy, so we don’t have a consistent view on the effectiveness of our digital marketing tools
We struggle to recruit and/or retain relevant digital marketing skill sets
Lack of budget is a significant constraining factor
Marketing workflows are poorly aligned with development cycles
Our technology does not work well together and/or is not integrated
Our digital marketing workflows are incomplete and/or ineffective
Our digital customer data does not work well together
We lack a customer data-driven culture
There are gaps in our digital marketing toolkit
41%
41%
32%
32%
32%
30%
24%
23%
19%
13%
12%
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Building out mobile channel and integrating technology is in the top three priorities
10.
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Base: 185 digital marketing decision-makers from the US and the UKSource: A commissioned study conducted by Forrester Consulting on behalf of Qubit, August 2013
“What will your organization’s top three digital technology projects be in the year ahead?”
Build out our mobile channel (apps, mobile Web, etc.) capabilities
Integrate digital marketing technology
Build out social channel capabilities
Build out strategic digital marketing services partnerships
Rationalize existing digital marketing technology
Rationalize existing marketing services partnerships
Reorganize digital, marketing, and analytics teams to better support joined-up digital marketing
Integrate customer data
53%
46%
44%
43%
39%
31%
31%
13%
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Download the whitepaper here to read more