* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Real-Time Marketing Report
Music industry wikipedia , lookup
Social media marketing wikipedia , lookup
Food marketing wikipedia , lookup
Affiliate marketing wikipedia , lookup
Marketing channel wikipedia , lookup
Target audience wikipedia , lookup
Neuromarketing wikipedia , lookup
Marketing communications wikipedia , lookup
Product planning wikipedia , lookup
Sports marketing wikipedia , lookup
Bayesian inference in marketing wikipedia , lookup
Multi-level marketing wikipedia , lookup
Ambush marketing wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Marketing research wikipedia , lookup
Target market wikipedia , lookup
Viral marketing wikipedia , lookup
Youth marketing wikipedia , lookup
Marketing plan wikipedia , lookup
Marketing strategy wikipedia , lookup
Advertising campaign wikipedia , lookup
Digital marketing wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Multicultural marketing wikipedia , lookup
Direct marketing wikipedia , lookup
Green marketing wikipedia , lookup
Global marketing wikipedia , lookup
Market Data / Supplier Selection / Event Presentations / User Experience Benchmarking / Best Practice / Template Files / Trends & Innovation Real-Time Marketing Report in association with Monetate Like this sample report? Access over 500 reports with a subscription. The reason subscribers join us - and stay with us Econsultancy’s entire research library is available to our subscribers, providing unlimited and unrivalled access to over 500 reports (and counting). In an environment where market trends are constantly changing, gaining up to the minute insider knowledge and expertise is invaluable. Comprehensive, authoritative and easy to read, our award-winning research offers practical advice to marketers on all aspects of digital marketing and ecommerce. Whatever you need to know, you just found it Just a few of our reports... Best Practice Our definitive ‘how-to’ guides across key topic areas for digital marketing professionals. Market Data Statistics, facts and figures; great for presentations! Supplier Selection Understand the market, latest trends and find the right supplier for your needs. Template Files Save time on RFPs, web and digital marketing projects. Trends and Innovation What’s happening out there, what’s new, what’s next? • SEO Best Practice Guide • Facebook Pages for Business Best Practice Guide • Online Video Best Practice Guide • Global Internet Statistics Compendium • RTB Buyer’s Guide • Email Marketing Platforms Buyer’s Guide • Digital Marketing Template Files • Innovation Report • Quarterly Digital Intelligence Briefings Find out more about research and get access now with a subscription To view our full range of 500+ reports, please visit econsultancy.com/reports If you’re ready to get your hands on our reports and use them for all they’re worth, we recommend becoming an Econsultancy subscriber. For more details, please visit econsultancy.com/subscribe If you have any questions about membership, get in touch by emailing [email protected] Real-Time Marketing Report Published February 2014 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 Econsultancy London 4th Floor, Wells Point 79 Wells Street London W1T 3QN United Kingdom Telephone: +44 207 269 1450 http://econsultancy.com [email protected] Econsultancy New York 350 7th Avenue, Suite 307 New York, NY 10001 United States Telephone: +1 212 971 0630 Contents 1. Executive Summary and Highlights ................................ 4 1.1. Methodology ................................................................................ 5 2. Foreword by Monetate..................................................... 6 2.1. 2.2. About Monetate ........................................................................... 7 About Econsultancy .................................................................... 7 3. What Does Real Time Mean to Your Customers? ........... 8 4. The Benefits of True Real-Time Marketing .................... 11 5. Customers, Culture and the Experience of Tomorrow . 13 6. The Variables of Real-Time Marketing ..........................17 7. Importance of Technology and Data ............................. 21 8. Don’t Forget the Human Side of the Equation.............. 24 9. The Near Future of Real-Time Marketing ..................... 27 10. Appendix: Respondent Profiles ..................................... 30 Real-Time Marketing Report in association with Monetate Page 3 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 1. Executive Summary and Highlights With customers wanting to increasingly drive their brand experiences, marketers have realised they need to rely on far more than their reputations and internal efficiencies to outpace competitors. Instead, they’re focused on targeting their customers in a near instantaneous manner, using specific data points to personalise messages and product offerings across all channels and devices. With this approach to reaching customers in its infancy for most brands, Econsultancy, in association with Monetate, surveyed nearly 900 marketers across the world to provide a snapshot of real-time marketing in 2014. What follows is those findings, a baseline for marketers to use when assessing their plans for this year and beyond. Though most of those surveyed recognise the importance of delivering winning experiences to their customers in a near instantaneous manner, marketers are finding real-time marketing to be full of challenges. Marketers largely said they are lacking the technology to collect disparate data sources into one centralised database and the skilled employees to leverage that data. They also said they need their… Real-Time Marketing Report in association with Monetate Page 4 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 1.1. Methodology The Econsultancy / Monetate Real-Time Marketing report is based on a survey of almost 900 client-side marketers and agency respondents. Information about the online survey was emailed to Econsultancy’s user base of digital professionals and marketers, and promoted online via Twitter and other channels during November and December 2013. The incentive for taking part in the survey was access to a complimentary copy of this report just before its publication on the Econsultancy website. A total of 880 respondents took part in the survey, including 44% who are client-side marketing professionals and 56% from the supply side (including agency marketers, consultants and those working for technology vendors or other service providers). For more detailed profiling of respondents, see Section 10. Real-Time Marketing Report in association with Monetate Page 5 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 2. Foreword by Monetate Last year, when we worked with Econsultancy to publish the Realities of Online Personalisation report1, a significant portion of the 1,100 marketers surveyed said they understood the importance of real-time marketing, but didn’t know where to start. In short, they were acknowledging what we’ve believed for some time now: that today’s marketing is broken. This year’s report continues that conversation, offering an international snapshot of where companies and agencies are in their quest to become real-time marketers, what advantages early adopters are seeing, and what’s been holding back those who are gearing up now. Those organisations already carrying out real-time marketing experiences for their customers (which include delivering relevant information and product offerings across all channels and devices, personalising interactions based on previous interactions, and tailoring offers and messages according to geography, weather and time of day) have reported a 26% uplift in their conversion rates. But despite the clear commercial opportunities that result from real-time engagement, the research shows many companies are either yet to embark on a more responsive and instantaneous approach to marketing, despite knowing they should, or are struggling to be as agile as they would like. So what’s holding these companies back? The challenges companies face boil down to data, technology, company culture and skills within the organisation. In the context of real-time marketing, only 29% of client-side respondents believe they have a strong data capability while this figure drops to 21% for marketing technology. As well as barriers to success relating to disconnected data sources and cumbersome technology, there are also problems for companies relating to the all-important people side of the equation, and the development of a culture which is conducive to real-time marketing. At Monetate, we have created a solution that eliminates each of those barriers. Our technology allows you to deliver those winning customer experiences on your website, in your email and anywhere else on the web without disrupting your current partners. And because our technology is easy to use, our customers are running 10 times more real-time marketing campaigns than they did previously, helping them grow 39% faster than their competitors. We hope this research helps you to gain a better understanding of the opportunities afforded by real-time marketing, either to improve your capabilities in this area or to kick-start real-time marketing from scratch. We look forward to hearing your stories about how you’re making this work. Bruce Ernst Vice President, Product Management Monetate 1 http://econsultancy.com/reports/the-realities-of-online-personalisation-report Real-Time Marketing Report in association with Monetate Page 6 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 2.1. About Monetate Monetate generates billions of dollars of new revenue for businesses, helping them grow 39% faster than the industry average. Brands such as Best Buy, National Geographic, and Celebrity Cruises rely on Monetate to put the customer first, creating winning customer experiences that drive a sustained, competitive advantage. The Monetate Acceleration Cloud connects two crucial elements that have always been treated separately within organisations: knowledge about the customer and marketing actions to deliver a better experience. Delight your customers with winning customer experiences that build authentic relationships and drive new revenue across any channel, all within one seamless solution. For more information about Monetate, visit www.monetate.com. 2.2. About Econsultancy Econsultancy’s mission is to help its customers achieve excellence in digital business, marketing and ecommerce through research, training and events. Founded in 1999, Econsultancy has offices in New York, London and Singapore. Econsultancy is used by over 600,000 professionals every month. Subscribers get access to research, market data, best practice guides, case studies and elearning – all focused on helping individuals and enterprises get better at digital. The subscription is supported by digital transformation services including digital capability programmes, training courses, skills assessments and audits. We train and develop thousands of professionals each year as well as running events and networking that bring the Econsultancy community together around the world. Subscribe to Econsultancy today to accelerate your journey to digital excellence. Call us to find out more: New York: +1 212 971 0630 London: +44 207 269 1450 Singapore: +65 6809 2088 Real-Time Marketing Report in association with Monetate Page 7 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 3. What Does Real Time Mean to Your Customers? Marketing is never a completely spontaneous activity. By its very nature, communication with target audiences requires a level of knowledge (stemming from data and insight) about what the audience wants and how the product or service offered meets their needs. This processing of knowledge to decide on how to engage with audiences cannot happen without planning. Any calculation or assessment, whether done by man or machine, requires some time period to be executed. But the advent of new technology has meant that marketers are now looking to do this calculation and assessment near instantaneously, in order to benefit from the fact that their target audiences are now always on and always connected. Against this back-drop, the concept of realtime marketing has recently become more popular, particularly as the explosion in data has created new sources of information that can be used to the marketer’s advantage. However, a key question needs answering: how fast is ‘real time’? As shown in Figure 1, more than four-fifths of all respondents (80% company, 82% agency) said that responses should… Figure 1: How do you define real time? Real-time marketing is very quick. Technology is a necessity for the speed required. Company respondents: 295 Agency respondents: 367 How would you describe the expectations of the modern consumer and your ability to deliver on those expectations? “A consumer expects personalisation – to know who they are, where they are and provide…” Survey respondents Real-Time Marketing Report in association with Monetate Page 8 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 4. The Benefits of True Real-Time Marketing In order to understand the driving forces behind the move towards real-time marketing, both company and agency respondents were asked to provide details of what they perceive as the main benefits of real-time marketing. Their aggregated responses are shown in Figure 4. The two benefits which were cited by more than half of all respondents were a better customer experience (84% for companies, 82% for agencies) and… Figure 2: What do you or your clients perceive as the main benefits of real-time marketing? Company respondents: 177 Agency respondents: 278 Real-Time Marketing Report in association with Monetate Page 9 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 5. Customers, Culture and the Experience of Tomorrow “Consumers are now used to having everything they want, when they want it. There is no margin for error any more for the wrong message, the wrong time, the wrong audience or the wrong product.” Respondent, Econsultancy / Monetate Real-Time Marketing Survey It started with search engines. Almost immediately, they began to recalibrate what people expected from media, stores and brands. Instead of being content with the products and services that were pushed at them, consumers came to realise they could find what they wanted. But unlimited choice created its own complications; buyers also wanted sellers to help them narrow the field, and they wanted the process to be fast and nearly invisible. That shift began over a decade ago. Where are they now? The individual exerts some control over their commercial life. Low-cost shipping, combined with… Figure 3: Do you agree or disagree with the following statements? Respondents: 326 Real-Time Marketing Report in association with Monetate Page 10 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 6. Appendix: Respondent Profiles Figure 4: In which country / region are you based? Respondents: 869 Figure 5: What is your annual company turnover? Company respondents: 237 Agency respondents: 305 Real-Time Marketing Report in association with Monetate Page 11 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 Figure 6: What best describes your job role? Company respondents: 238 Agency respondents: 306 Figure 7: Is your company mainly focused on business-to-business (B2B) or business-to-consumer (B2C)? Company respondents: 227 Agency respondents: 303 Real-Time Marketing Report in association with Monetate Page 12 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014 Figure 8: In which business sector is your organisation? Respondents: 226 Real-Time Marketing Report in association with Monetate Page 13 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsultancy.com Ltd 2014