For the first time it’s been reported that more money is flowing into digital media than offline channels. As more and more “experts” tell you why you should be increasing your digital marketing budgets very few actually are talking about the primary objective of ANY marketing initiative: to drive bottom line results.
Sixty-four percent of marketers expect their role to change in the next year; 81% in the next 3 years and while two in five (40%) marketers surveyed stated that they wanted to reinvent themselves, only 14% of those marketers actually know how to go about it. Lack of training in new marketing skills (30%) and organizational inability to adapt (30%) are cited as key obstacles to becoming the marketers they aspire to be.
In the face of increasing complexity in the markets and customers they serve, CMOs are struggling to keep pace with competing business demands, proliferating channels and partners, and a disconnect between the talent they have and the capabilities they need. Nearly four in 10 CMOs say they do not have the right people, tools and resources to meet their marketing objectives. Why is this happening? Look no further than antiquated hiring practices designed to keep the best and brightest people away.
McKinsey: ￼￼￼￼￼￼￼￼￼￼￼￼It’s a postholiday tradition up there with returning unwanted gifts and vowing to exercise more: spending a few hours cleaning out your e-mail inbox. If you’re wondering why marketers seem intent on e-mailing you more and more, there’s a simple explanation: it works. E-mail remains a significantly more effective way to acquire customers than social media—nearly 40 times that of Facebook and Twitter combined. That’s because 91 percent of all US consumers still use e-mail daily, and the rate at which e-mails prompt purchases is not only estimated to be at least three times that of social media, but the average order value is also 17 percent higher.
If brands readily acknowledge the efficiencies and impact bought by integrating digital marketing, why then is the implementation process so slow? Only 6% of of respondents thought that their digital strategies were already integrated. 35% of respondents indicated that the technology required to achieve a truly integrated digital marketing strategy was too complicated. There are also structural issues at play: 24% said that their team wasn’t set up to run an integrated digital marketing strategy and 15% stated that disparate data was the problem. The digital marketing community continues to struggle in convincing marketers that their efforts should be managed and optimized holistically in order to maximize rewards, regardless of the time commitment or expense in implementing.
Digital marketers have to not only develop and execute interactive marketing strategy they have to teach the organization about the depth and breadth of digital marketing. Too many people think digital marketing is simply creating a website and buying some keywords on Google but digital marketing has a lot of specialities and is harder to master if you don’t have digital marketing talent or understaff your digital marketing department.