96% of Marketers want IT Teams to become responsible for Marketing ROI
Grzegorz Blazewicz
Salesmanago Founder & Board Member, Entrepreneur, Advisor, Investor.
Two years ago McKinsey published its blueprint for personalization at scale driving the discussion on how proper cooperation between CMO and CTO may deliver extreme value creation ($3tn across eCommerce industry. It seems as this discussion has gone into an area which nobody really expected meaning that 96% of marketers believe today that IT should be responsible for Marketing ROI.
IT Teams happily are not getting away from this responsibility but does it then really mean that Marketing can fully own its space. Do we believe that such dependency on IT makes marketers really powerful and impactful?
A tip to Marketers: Find solutions that make you less dependent on IT and make you have more impact and fully own the space.
Today, marketers use first-party data from a number of different sources including: their website, mobile app, CRM, ecommerce platform, and point-of-sale (POS) to inform all of their segmentation and targeting. To gain insights from the data – which is typically housed in the data warehouse and mostly inaccessible to marketers—marketers must rely on their IT team. 75% of the marketers surveyed said that IT teams are responsible for giving them access to data for their operations and nearly 70% of marketers said they rely on IT teams for data modeling. As marketing becomes more tech-enabled, IT teams are also playing an increased role in choosing technology vendors and products for marketing. 76% of IT teams surveyed said that they help to choose technology and SaaS vendors for marketers. Marketers said that customer data platforms (73%) and artificial intelligence (66%) top their lists for procurement followed by blockchain and smart contracts (53%).
Despite an increased emphasis on the importance of data in marketing, only 53% of marketing decisions are influenced by data, according to a new survey by Gartner. The consulting firm predicts that 60% of CMOs will cut the size of their analytic departments in half by 2023 due to “failed promised improvements.” Inconsistency and difficulty of access were listed among the top reasons analytics were not used when making decisions. No matter how involved analytics are in decisions, marketing departments don’t always see the returns. Organizations are more likely to agree they are unable to prove marketing's value if analytics were used in fewer than 50% of decisions. On the flipside, if analytics influenced more than 50% of decisions, there are likely diminishing returns for the organization, according to Gartner’s findings. The survey found that one-third of respondents said decision-makers cherry-pick data that supports a decision or opinion they’ve already formed. Cognitive biases were cited as a major barrier to marketing analytics influence. Additionally, when information was provided, it wasn’t always used. Twenty-six percent of respondents said decision-makers did not review the data provided to them, 24% said decision-makers rejected their recommendations and 24% said decision-makers went with their “gut feeling” to make a choice.
More than three-quarters of marketers think the ad industry is not doing enough to address digital advertising’s carbon footprint, according to new research released for Climate Week NYC by purpose-led ad platform Good-Loop. While six out of 10 advertisers say they are currently tracking the emissions generated by their digital ads, 76% felt the industry needs to do more to tackle the carbon cost of online ad campaigns.Nine in every 10 (87%) marketers believe the digital ad industry has a responsibility to reduce carbon emissions. 61% of US marketers are currently tracking the carbon cost of their digital marketing campaigns. However, 56% still rely on estimated figures or calculations. There is also a lack of standardization, with both independent and in-house solutions widely used. 51% say their organization plans to reach net zero in digital advertising at some point, but only 24% have set targets and only 2% say they have already reached net zero.
Android-based e-commerce app installs dropped 5% (when excluding India, where installs were up 116%) in the first half of the year, compared with the same period in 2021. IOS installs also dropped 4% globally over the same period, according to AppsFlyer’s 2022 State of eCommerce App Marketing report.? Ad spending for user acquisition dropped 50% year over year, amounting to $6.1 billion from July 2021 to July 2022. The report found that non-organic installs are slowing down. In 2022, e-commerce is no longer holding the draw it once did. Rising prices, which have taken a toll on marketing budgets and planning in recent months are also contributing to the decline as campaigns encouraging app downloads are stagnating. Due to this stagnation, apps are focusing on different tactics to maintain their user bases, such as remarketing and using owned media channels for promotion. Indeed, the use of owned media jumped 360% year-over-year between July 2021 and July 2022.
The economy has finally replaced COVID as the main source of anxiety for consumers as brands prepare for the holiday shopping season. In fact, financial concerns have surged more than 150% YoY, while concerns about COVID have declined from 52% to 16%. These financial concerns might actually be more pressing than fear of the virus, with those expecting to have a normal holiday shopping season dropping from 60% in 2022 to 49% this year. While more than 60% of women expect the perceived recession to have an impact on their families, fewer than 40% of men share that concern. Hispanic consumers are the most concerned about a financial impact. Consumers say they’re likely to stop shopping later in the season. Results constitute an early warning that this year’s holiday shopping days might not equal the resounding successes of 2020 and 2021.
Mastercard’s SpendingPulse report predicts that consumers will spend 7.1% more during this upcoming U.S. holiday season, excluding automotive sales, compared to the 2021 yearend period last year. Consumers will spend 4.2% more via e-commerce and 7.9% more in stores compared to last year. It also anticipates consumers spending 4.6% more on clothing, 4.4% more on luxury items, excluding jewelry, 3.5% more on electronics and 2.2% more on jewelry compared to 2021. Spending on services has also climbed compared to pre-pandemic levels. Restaurant spending in August got a 14.8% bump year over year and logged a 43.7% increase compared to August 2019, according to Mastercard. Meanwhile, lodging increased 38.4% year over year and 40.5% from August 2019. Overall, the card company expects spending to rise over 2019 pre-pandemic levels this holiday season, despite the uncertain economic environment, including inflation and higher interest rates. Indeed, Mastercard expects total retail sales, excluding auto, to jump 18.8% over the 2019 period.?
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Nearly seven in 10 consumers are planning to celebrate Halloween this year, a survey by Prosper Insights & Analytics and the National Retail Federation found. The NRF predicts that consumers will spend $10.6 billion on Halloween this year, up from $10.1 billion last year. Spending on costumes, decorations and candy is expected to reach record levels. Costumes will make up the largest category of spending, with kids and adult costumes projected to hit $2.9 billion, the highest total since 2017. Pet spending is also expected to surpass 2021’s record high sales, hitting $710 million. Almost half (47%) of consumers plan to shop for Halloween in September or earlier. As to where they’ll shop, 40% of respondents will buy their items at discount stores, 36% will shop with specialty Halloween or costume stores, and 31% will make their Halloween purchases online.
Among US adults 34 and younger, 30% had used visual search for shopping as of August, and 12% used it regularly. By comparison, 22% of US adults overall had used the functionality, and 8% used it regularly. Just one year ago, 24% of adults under 35 had shopped with visual search, and 15% of adults overall had done the same. Google recently unveiled “multisearch” functionality, which combines text and visual search through its Lens tool. The integration of text could persuade the other 78% of adults to give visual search a try. Data is from the August 2022 "The Insider Intelligence Ecommerce Survey" conducted by Bizrate Insights.
The average US social buyer will spend $518 via this channel in 2022, up 26.9% from last year. Annual spend will increase by $419 per buyer over the next three years, reaching $937 in 2025. The number of social buyers is also increasing in the US, just not as quickly. This year, growth will slow to the single digits, but it’ll be enough to push the buyer base past the 100 million mark. More than half of social network users will buy via those platforms come 2023. The majority are doing so on Facebook, Instagram, and—increasingly—TikTok. Nearly 16 million will also make a purchase through Pinterest, which is working to personalize its commerce experience.
During the first half of 2022, consumers in the Netherlands spent 16.1 billion euros online. This is a 9 percent growth when compared to the same period a year earlier. The growth mostly stems from a rise in online sales of services. This is a finding from the newest Thuiswinkel Market Monitor, which shows consumer spending in ecommerce in the Netherlands. The online sales of products came to a total of 5.3 billion euros, which is more than what consumers used to spend on online products before the outbreak of the coronavirus (3.3 billion euros in 2019). In particular, the online sales of services grew strongly in the first half of this year. Sales of Package Holidays grew by 129 percent, sales in the Tickets for Attractions & Events category grew by 104 percent when compared to Q2 2021. The research also found out that one in three online purchases was completed on a smartphone. Most of these purchases on smartphones were done in the categories Food/Nearfood, Tickets for Attractions & Events and Clothing. The most popular device is still a laptop (51 percent), although it was used less than a year earlier (a decrease of 4 percent).
Customer experience, or CX, is one of those phrases that’s been tossed around a lot in recent years. It’s not just another industry buzzword. Done right, customer experience will help you increase sales and improve brand loyalty. Here are 7 tips on how to improve Customer Experience.
A recent Statista survey among organizations worldwide revealed that over 88% of business owners view a focus on CX as relevant to compete in their market. So if you want to make sure that your online shop’s customer experience is the best it can be, you should get a ton of value from this guide.
Greg
Global CRM & Loyalty | Engagement & Retention | CRM Marketing transformation | Digital | Ecommerce | Leading innovations
2 年It is just impossible to operate separately in Ecom for IT and Marketing. Maybe for some companies one manager with both divisions below would even bring more results.