A recent Forbes Insights report (which is free here) states:
In a business environment increasingly dominated by metrics, measurements, and data-driven decision-making, marketing executives find themselves under more scrutiny than ever. Less emphasis is being placed on branding – the traditional realm of the CMO – and more on customer acquisition, conversion, and retention. While top-level marketers agree that the proliferation of customer and campaign data is helping, not hindering, their efforts to produce ROI, many are at risk of falling behind as expectations and tactics are evolving at a breakneck pace.
So what are these marketers to do and where are they having difficulty? This chart shows what areas are most important to these folks as they try to stay ahead of the curve and not get lapped by the sheer volume of things to track and their competitors as well.
The next chart shows the connection between customer retention, customer acquisition and the online world. You can always see what is most important when you find where the dollars are going.
For many none of this is a surprise in theory. It’s the reality of what is required to perform in the inbound marketing environment that creates the real trouble. It’s easy to see a boulder in the middle of a windy mountain road. The trouble is in getting around it.
The challenges for marketers or, if you will, those boulders in the road, are many.
So how do you do so much work when just about everyone feels that they never have enough resources? That’s where technology comes into play but even there, only 13% feel like they have a world class grasp on the technology to keep them ahead of the pack.
So what does all of this mean? It’s quite simple actually. As marketers it has never been more important to be in good marketing condition. The new world of marketing is like a triathlon. You have to be very good at several different things to win.
How are you keeping up with the pace? Are you in good marketing shape? The world of marketing is likely to increase in speed and complexity so prepare now or else you will be left in the dust with resume in hand.