Tag: Marketing technology
Marketing industry is growing and developing all over the world, but everywhere the process has some unique characteristics. In this article you will learn about European marketing ecosystem, its trends, challenges and needs. We will also tell you how our solution can be useful to marketers. In May 2020 Boston Consulting Group published a report after surveying C-suite marketing managers in the UK, Germany and France. Here we will discuss what problems marketers in Europe face today and how they deal with them. Digital transformation has brought significant changes into the marketing industry, making technology and tools more complex and sophisticated to match the arising needs. To cope with the innovations and grow, 97% of European marketers turn to external partners in such areas as technology, measurement, media planning and buying, etc. Experienced agencies and consultants provide companies access to cutting edge technology and help them to increase ROMI. Due to fragmentation of European market one-size-fits-all approach doesn’t work here, so campaigns have to be adapted to local cultures and languages. For the same reason countries progress at different pace and have different levels of digital maturity; the UK, for example, is ahead of all Europe in terms of it…. Read more »
There is no doubt marketing contributes a lot to company’s growth, but how to accurately define its contribution is still to be determined. In this article we cover most common challenges marketers face today and provide some valuable advice from a 2018 research by Forbes on how to apply marketing techniques wisely and quickly implement data-driven insights in your decision-making to increase the enterprise value. According to the research where over 800 marketing executives were involved, investments in marketing have become the major contributor to company value in today’s digitally driven economy. Market conditions are changing quickly, intangible assets like brand equity, innovations and customer relationships are becoming increasingly important. To monitor complex, fast changing customer journey and address numerous other problems marketers worldwide annually spend about $1 trillion, moreover they are struggling to justify these huge expenses as well as measure their effectiveness. Most CMOs use over twenty tools; with this variety it’s getting more difficult to measure and optimize marketing investments. The need for higher marketing accountability shows that an international measurement standards should be established. Here are three reasons why organizations need to better understand, measure and improve marketing? Investors and owners need to see the impact… Read more »
According to recent Gartner research, companies spend 12% of their revenue on marketing, and about a third of this budget is allocated to marketing technology. This approach makes sense, because simply pouring money in advertising relying only on your experience or gut feeling will not necessarily yield the expected results. However, with the right technology, you can minimize risks, discover ways to cut spending and drive ROMI. The first step to an effective marketing strategy is high-quality and comprehensive data, because well-informed decisions based on statistics will definitely lead to success. The statistical tool that analyzes different parameters affecting past sales and provides forecasts for upcoming periods is Marketing Mix Modelling (MMM). Some important parameters it covers are: Media types Effectiveness of online and offline channels Incremental sales MROI of different media types Seasonality Competitors’ marketing activities Implementing MMM is a wise choice not only for Consumer Goods industry, where the competition is high and brand loyalty is low, but for any large company that manages business in more than one region or country and promotes its goods and services through a wide range of media channels. With MMM you will be able to quickly and easily get insights from… Read more »
Digital transformation is under way and it’s changing the industry. One of the necessary conditions for successful transition is closer cooperation between marketing and finance leaders. In this article you’ll learn what causes most disagreement and where they should find more common ground. In June 2019, Ernst & Young published a report about potential that cooperation between CMOs and SFOs has. In the age of digital transformation, MarTech helps businesses better understand their clients, track activity along the customer journey, stimulate growth, and analyze data to provide insights for marketers. They use everything that new technology and data offer to invest smarter, increase customer loyalty and retention, and adopt a customer-focused approach to marketing. To successfully implement this data-driven approach, they need significant investments, which should be approved by CFOs who want to hear a strong business case and see ROI forecasts before making any decisions. That’s why collaboration and better dialogue between the two functions is crucial in the age of digital transformation. According to Ernst & Young survey of 304 C-level managers in finance and marketing, 90% think that these departments need to be more involved into one another’s activities, and 83% believe that this cooperation will improve… Read more »
