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Only 38% of marketers very confident in their customer data and analytics systems

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Only 38% of marketers very confident in their customer data and analytics systems

Only 38% of marketers globally are very confident in their data, analytics and insight systems, according to a new report from The CMO Council. And, while 91% say direct access to customer data is a critical competitive advantage, only 11% say that data is readily accessible to them. 

Read next: Only 11% of CMOs say they have achieved digital transformation goals

North American marketers. Most of these numbers are global ones, but the ones specifically from North American marketers are not good. Only 28% say they are very confident in their data systems to win and retain customers. Compare that with Europe where 61% answered yes to this. Just 6% of North American respondents said they have high access to customer data vs. 20% of Europeans. On the issue of being able to move quickly from data to action, it is 8% from our side of the Atlantic versus 36% from theirs. And Europeans have a lot more faith in their systems: 46% say they’re confident the martech they have can adapt to future needs versus 20% in the U.S. and Canada.

Source: CMO Council’s High Velocity Data Report.
Used with permission.

Barriers to data access. Nearly three-quarters (73%) said not having the right tools prevents them from getting the data they need. The lack of proper data management processes was cited by 60% of respondents. Next up, both with 41%: Data control being elsewhere in the organization and the data not being available in real time.

Can’t get the most from their data. The biggest things preventing marketers from maximizing the data they already have? Some 55% said a lack of systems connecting data silos and making it easy to access. The talent shortage is No. 2 on the list, cited by 52% of respondents. Next on the list at 44% was not having the money to improve data systems.

Why we care. Good data is gold, bad data isn’t just useless – it can lead to very big mistakes in planning, allocation and all the other parts of marketing. So why can’t marketing departments get the data they need? This study implies it’s because they are failing to convince their own organizations about what they need. This is understandable. Convincing a customer is comparatively easy: They aren’t competing with you for resources and to move up the career ladder. So maybe it’s time to put together a campaign around the needs of the marketing department.


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About The Author

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.

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What Is a White Paper? [FAQs]

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What Is a White Paper? [FAQs]

The definition of a whitepaper varies heavily from industry to industry, which can be a little confusing for marketers looking to create one for their business.

The old-school definition comes from politics, where it means a legislative document explaining and supporting a particular political solution.

(mer …)

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HubSpot to cut around 7% of workforce by end of Q1

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HubSpot to cut around 7% of workforce by end of Q1

This afternoon, HubSpot announced it would be making cuts in its workforce during Q1 2023. In a Securities and Exchange Commission filing it put the scale of the cuts at 7%. This would mean losing around 500 employees from its workforce of over 7,000.

The reasons cited were a downward trend in business and a “faster deceleration” than expected following positive growth during the pandemic.

Layoffs follow swift growth. Indeed, the layoffs need to be seen against the background of very rapid growth at the company. The size of the workforce at HubSpot grew over 40% between the end of 2020 and today.

In 2022 it announced a major expansion of its international presence with new operations in Spain and the Netherlands and a plan to expand its Canadian presence in 2023.

Why we care. The current cool down in the martech space, and in tech generally, does need to be seen in the context of startling leaps forward made under pandemic conditions. As the importance of digital marketing and the digital environment in general grew at an unprecedented rate, vendors saw opportunities for growth.

The world is re-adjusting. We may not be seeing a bubble burst, but we are seeing a bubble undergoing some slight but predictable deflation.


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Om författaren

Kim Davis

Kim Davis is the Editorial Director of MarTech. Born in London, but a New Yorker for over two decades, Kim started covering enterprise software ten years ago. His experience encompasses SaaS for the enterprise, digital- ad data-driven urban planning, and applications of SaaS, digital technology, and data in the marketing space.

He first wrote about marketing technology as editor of Haymarket’s The Hub, a dedicated marketing tech website, which subsequently became a channel on the established direct marketing brand DMN. Kim joined DMN proper in 2016, as a senior editor, becoming Executive Editor, then Editor-in-Chief a position he held until January 2020.

Prior to working in tech journalism, Kim was Associate Editor at a New York Times hyper-local news site, The Local: East Village, and has previously worked as an editor of an academic publication, and as a music journalist. He has written hundreds of New York restaurant reviews for a personal blog, and has been an occasional guest contributor to Eater.

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Advocate | DigitalMarketer

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Advocate | DigitalMarketer

Happy customers love to share their experience, but sometimes they need some encouragement to do so. The cool thing is, once they do, they become even more loyal to your brand.

So, at this stage of the Customer Value Journey, ask people to share their positive experience with your brand by writing a review or sharing a social media post.

Once you get to stage seven, the Customer Value Journey is going to get a whole lot easier for you. This stage is all about learning your customer’s experience, and building up your testimonial database. 

The most important part of this step is asking these four questions. 

What Was Your Life Like Before Finding Our Solutions? What Challenges Were You Facing That Caused You to Consider Us? 

These questions are great not only because it gives you some really good stories, but because it gives you some insight on how you can provide similar prospects with that AHA moment. Understanding the average day of your clients is important in reflecting on your Customer Value Journey, and helps you understand what really set you apart from your competitors.

What Key Features Had the Biggest and/or Fastest Impact?

Not only is this going to get you to really specific stories, you will understand the specific things you provided that gave the biggest impact. The answers to these questions will not only give you great insight and testimonials, it will provide you with ideas for new lead magnets. This part is a new Entry Point Offer goldmine! 

What Has Been the Impact or Results in Your Life or Business Since Using Our Product or Service? 

This is a fairly broad question, and that’s why we put it after the others. You will have already gotten all of the specifics out of the way with #1 & #2. But when you ask this question, this is where you get the most valuable stories. You can use this part as testimonials, as an order form, as a sales page, this part is testimonial gold. 

If You Were Asked to Justify this Purchase to Your Boss or a Friend, What Would You Say? 

This is our favorite question by far. If you had to go back in time and justify this purchase, what would you say? I promise you what we’re going to find is a lot of great ideas for the jobs that your product or service has done. You’ll get a lot of great ideas for your core message canvas. This question is about backfilling all of the assets that you may not have. Here you’re going directly to the customer who are already happy, and using their justifications to help you sell to new customers. 

Hopefully you now understand just how valuable the Advocate stage could be, as well as the key questions you need to ask to get your customers talking. Here’s how it works for our example companies.

When it comes to fashion we all love to show off our outfits. So a good example for Hazel & Hems would be to have customers write reviews for a discount code or points towards their next purchase. 

Better yet, follow up with the customers to ask them to share and tag themselves wearing the items in a social media post and providing them with something valuable as a reward.

For Cyrus & Clark Media, hopping on zoom meetings or a streaming service for live talks about them and their business could generate valuable awareness for them, and a live case study for the agency. They can use the questions Ryan provided during this lesson to conduct the interview.



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