Is understanding how to target your customer effectively keeping you awake at night?
The Econsultancy Marketing Budgets Report 2015, created in association with Oracle Marketing Cloud, delves into marketers’ expected spend for the coming year and is a great opportunity to see whether you are facing similar challenges to the rest of the industry and inform your priorities for the year.
Because a customer’s decision to buy now involves many interactions with a brand, delivering an orchestrated approach is essential for any brand to attract and retain customers. It’s clear that our industry is aware of this; this year’s report indicates that nearly three quarters (74%) of the companies surveyed believe they are working towards delivering unified customer experiences, rather than standalone campaigns or interactions.
In addition, 71% of the companies surveyed say that they are focusing on ‘breaking down internal silos to better co-ordinate and integrate [their] marketing efforts’. Marketers are unifying marketing strategy as well as unifying the marketing teams delivering those campaigns.
More generally, the findings also indicate that marketers are more likely to be increasing overall budgets for the year ahead than at any time since the launch of our first Marketing Budgets Report in 2010, during the height of the economic crisis. Winning areas include marketing technologies and digital marketing, as a result of stronger boardroom support.
Bigger budgets are well deserved as marketers step up to some tough challenges this year. It spells an exciting 12 months, as marketers seek to take coherent cross-channel customer experiences to the next level.
Find out whether your budget priorities are the same as other marketers by following this link to the full report (plus below is an infographic which provides a snapshot into the overall findings.) We hope that it encourages you to compare your own decisions to the wider industry and gives you some useful insight into the health of the marketing business.
Featured image source: newyear2015sms.com