Connect with us

MARKETING

Tough times increasing consumers’ desire for reliable, trustworthy companies

Published

on

Tough times increasing consumers' desire for reliable, trustworthy companies

Ultimately, what all companies sell is trust and tumultuous times make earning and keeping that trust the most important thing a business can do. 

This can be seen in a recent Salesforce report which found:

  • 88% of customers say trust is more important in times of change.
  • 74% of customers say communicating honestly and transparently is more important now than before the pandemic.

How to earn it. The report, which surveyed over 13,000 consumers and nearly 4,000 business buyers across 29 countries, laid out what organizational actions build trust. Honest and transparent communication topped the list, followed by responsible use of customer data, treating customers as people – not as numbers, and resolving issues and communicating proactively.

Business gets the benefit of the doubt. The good news for marketers is that people favor businesses over most other institutions. The Salesforce survey found 52% of customers say they generally trust companies – up from 48% in 2020. Further, 68% of customers now trust organizations to tell the truth – up from 59% two years ago. Trends like this are a positive sign businesses are moving in the right direction.

From Salesforce’s State of the Connected Consumer, 5th ed.
Used with permission.

This is in line with what other global surveys report. An Edelman survey of 28 nations found 61% of people trust business, that’s 9% more than trust the government. (In the US, it depends on the size of the business. Small business has the highest rating of any major institution – with 70% saying they trust it “quite a lot”; for big business only 18% say they do, according to a Gallup poll.)

Read next: Public wants to know where brands stand on issues, surveys show

Why we care. While people may think marketing is handled by a particular department (yours), it is actually the sum total of all the company’s behaviors. Consumers want to trust the companies they buy from. It is up to marketing to make the rest of the organization understand they are also responsible for earning or losing that trust. It’s up to martech in particular to be gathering the data to show what the business is doing right and what it needs to do better.

Advertisement

Get the daily newsletter digital marketers rely on.



Advertisement

About The Author

App users visit brick and mortar 41 more often than

Constantine von Hoffman is managing editor of MarTech. A veteran journalist, Con has covered business, finance, marketing and tech for CBSNews.com, Brandweek, CMO, and Inc. He has been city editor of the Boston Herald, news producer at NPR, and has written for Harvard Business Review, Boston Magazine, Sierra, and many other publications. He has also been a professional stand-up comedian, given talks at anime and gaming conventions on everything from My Neighbor Totoro to the history of dice and boardgames, and is author of the magical realist novel John Henry the Revelator. He lives in Boston with his wife, Jennifer, and either too many or too few dogs.

Advertisement

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address

MARKETING

Trends in Content Localization – Moz

Published

on

Trends in Content Localization - Moz

Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.

Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.

Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.

Source link

Advertisement
Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

MARKETING

How AI Is Redefining Startup GTM Strategy

Published

on

How AI Is Redefining Startup GTM Strategy

AI and startups? It just makes sense.

(more…)

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

MARKETING

More promotions and more layoffs

Published

on

More promotions and more layoffs

For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.

The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.

Dig deeper: How to overcome marketing budget cuts and hiring freezes

Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643. 

Advertisement

Here are the median salaries by role:

  • Senior management $199,653
  • Director $157,776
  • Manager $99,510
  • Staff $89,126

Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.

One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%). 

PX3zocqNZfzMbWNEZhW9dZnAgkdPrLW8fjkrbVrcEkrNJpJiXrVKkjlQ0Tzuj8YKh Ht9HTEvmxDDt0ZsntfYiZHS0NJ7zEZ 6yMT3OjZajbaXBFV1D2Pk5euJeHKdRuzOzM5ZUxwNtsVNaiIbNrd Q

Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.

Dig deeper: Skills-based hiring for modern marketing teams

Employee turnover 

In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”

FIHUBtZJfK3IzbyZl C6WXBPTE64Gzg1URDzQUXCrD8YkAPZS7mmjpmAAiuhhheJUE4dGVcn6e9XW87ogLVz0Ya4rqHwB8WfXTHS W0hRW7yEdr2bQNjlTwnXvNhMv9NZ092pq1ws7lu DYqLV8i6fcFIHUBtZJfK3IzbyZl C6WXBPTE64Gzg1URDzQUXCrD8YkAPZS7mmjpmAAiuhhheJUE4dGVcn6e9XW87ogLVz0Ya4rqHwB8WfXTHS W0hRW7yEdr2bQNjlTwnXvNhMv9NZ092pq1ws7lu DYqLV8i6fc

Men and Women

Screenshot 2024 03 21 124540Screenshot 2024 03 21 124540

This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.

In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.

Methodology

The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents. 

Advertisement

Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.

Get MarTech! Daily. Free. In your inbox.

Source link

Advertisement
Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

Trending

Follow by Email
RSS