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The not-so-distant future of marketing.
In the beginning, there was the marketing funnel…
…Now there’s the always-on consumer-led economy.
Marketing expenditures now total $1 trillion globally *Source: McKinsey & Co. Three out of four CEOs agree: marketers “are always asking for more money, but can rarely explain how much incremental business this money will generate.*”
Our Study Six marketing visionaries: Seth Godin, author John Hagel, Deloitte Center for the Edge Gavin Heaton, the Disruptor’s Handbook Aditya Joshi, Bain Marc Mathieu, Unilever Jim Stengel, former CMO of P&G A global survey: 478 CMOs and senior marketing executives 33% North America 30% Europe 29% Asia-Pacific 9% Latin America & Africa 52% with revenues of over $500 million, 20% with revenues higher than $5 billion
29% say the need for change is urgent. More than 80% of marketing executives worldwide say they need to restructure marketing.
Be bold. Marketers point to five areas of dramatic change.
Be bold. Marketers point to six areas of dramatic change. 1. From cost center to revenue source 80% of companies will classify marketing as a revenue driver in 3-5 years.
2. Lead the customer experience 75% of marketers say they will be responsible for the customer experience in 3-5 years.
3. A shift in customer engagement 78% relate engagement to sales 22% related engagement to brand* *These are the marketers least likely to think that marketing needs to change.
eBay e-trade readiness Index 12 4. Marketers need to retool first Top skills in demand: Digital engagement Marketing operations & technology Strategy and planning
13 5. Digital and data dominate investment 75% of investments focused on reaching customers through social, mobile and e-mail. 25% focused on analytics to knit together data from different channels.
Remember to be human And a sixth Don’t forget to be human. And I’ll throw in a sixth
The survey was conducted with the Economist Intelligence Unit’s Opinion Leaders Panel, made up of more than 100,000 global executives. Read the full report here
Jeff PundykVP Content Solutions and Strategy@jpundyk