Marketing is a (Buyer) Journey, Not a Destination

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Marketing is a (buyer) journey, not a destination Marketers experimenting with various budget allocations across the buyer cycle 57% responded their marketing budgets are expected to increase over the next 2-3 years 53% said the main reason to experiment is the imperative to generate higher revenue. "We need to maximize close ratios. We need to spend less in identifying deals and more in supporting the close.” Only 20% say they experiment because of better data and technology. "Yes, because we have better data on the buyer’s journey now.” Awareness to Engagement Marketing budgets are extending across the entire buyer journey making marketing is less about the funnel and more about the journey. Further more, the research found that content is not only king but leading the budget allocation charge. Current program budget allocation Top budgeted items: Content 13% Advertising 12% Digital Online 11% Events 11% Digital Website 11% Traditional Advertising Budgets aligned pretty evenly across cycle BUY 21% ARN 16% LE TR % D IS ATE 14 VOC % AD US Y 16% E 13 % C OVE R 2 0 What’s even more interesting is that marketers are planning to spend even more in the next 2 years, again, evenly across the buying stages. Spending across buying stages 52% 48% On average 50% increase in spending across all of the buying stages, Discover, Learn, Try, Buy, Use, Advocate. Traditional Advertising Digital Advertising Betting on every horse in the race? Marketers are testing the waters by experimenting across channels, tactics and buyer stages. In a sense, initially putting bets on every horse at the start of the race but leveraging agile approaches to reallocate their resources to the leading "horses” mid-race and increasing their chance to win the day. Email Website Apps Social Marketing is evolving, not just adding a digital channel Social is taking a big channel role across the buying cycle. Social and online channels are emerging as multi-tasker mediums across all stages of the buyer cycle. Discover Social Website Email Digital Events Learn Try Buy Use Advocate Social Email Website Digital Apps Social Email Website Apps Digital Website Email Social Digital Apps Social Email Website Events Apps Social Email Website Apps Digital The research indicated strong switching and acquistion momentum towards digital capabilities, but traditional still has a part. Traditional Research Snapshot Marketing focused soley on awareness and/or the purchase funnel is obsolete. Marketing budgets are up, due to either strategic funds or strong organic increases, but so are expectations. Today’s CMO is focused on investing across the entire customer journey from discover, learn, try, buy, use & advocacy. CMOs are planning to increase their spending across every stage of the buyer journey over the next two years by an average of 50%. Generating content for use across the buyer journey is currently king, grabbing the top program budget spot. Traditional and digital media spend is almost in parity. Marketers are experimenting a lot across buyer stages and tactics. We need new thinking. We need to challenge our mental models of what marketing needs to be in our connected and increasingly measured world. Fortunately the consumer’s journey is our guide. The CMO Club is the world’s most engaged and inspired community of Senior Marketing Executives who help each other solve their biggest challenges, within a candid, trusted, and sharing environment. Learn more about the CMO Club IBM Marketing Solutions make it easier to design and deliver meaningful customer experiences across journeys, applications, devices and time, accelerating today’s results and tomorrow’s ambitions. Learn how you can change the way you engage © Copyright IBM Corporation 2015. IBM, the IBM logo and ibm.com are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the Web at “Copyright and trademark information” at www.ibm.com/legal/copytrade. Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice, and represent goals and objectives only.

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