SAN MATEO, Calif., April 6, 2016 /PRNewswire/ -- A study of
nearly 500 chief marketing officers (CMOs) and senior marketing
executives from around the world conducted by The Economist
Intelligence Unit (EIU) on behalf of Marketo, Inc. (NASDAQ: MKTO),
reveals that 86 percent of marketers say they will own the
end-to-end customer experience by 2020. To accomplish this, the
report found that marketing leaders must have a single view of the
customer that allows them to engage in two-way, personalized
conversations across technologies, locations, and physical
objects.
This is the second year that Marketo, the leading provider of
engagement marketing software and solutions, has commissioned this
survey, which builds upon the 2015 finding that marketers feel
their organizations need to undergo a dramatic shift to keep up
with increasing technological and consumer demands. The 2016 report
titled, "The Path to 2020: Marketers Seize the Customer
Experience," takes an in-depth look at how buyers engage with
brands today and the impact that will have on how marketers reach
them through 2020.
"Technology's rapid evolution allows customers to engage with
brands across myriad new channels in real time, translating to
billions of marketing-driven touch points," said Sanjay Dholakia, chief marketing officer,
Marketo. "With 86 percent of CMOs and other marketing leaders
of the mind that they will own the customer experience by 2020, it
is essential that organizations maintain a singular, comprehensive
view of their customers. This is the key to building enduring
customer relationships and ultimately successful brands."
Additional findings include:
- Marketing complexity is growing: More than half of
respondents believe the accelerating pace of technological change,
mobile lifestyles, and an explosion of potential marketing channels
via the Internet of Things (IoT) will change the field the most by
2020. This is driven by the billions of possible interactions these
channels will create between a company and its customers.
- The strength of mass media is declining: By 2020,
marketers expect they will increasingly interact directly with
their customers through technology and personalization as opposed
to indirectly through media and advertising.
- The top marketing channels are those that can be
personalized: The top channels to the customer in 2020 will be
social media (63% of respondents), the World Wide Web (53%), mobile
apps (47%), and mobile web (46%).
- Marketing will no longer be just about acquisition:
Loyalty and customer acquisition will still be the top two
strategic programs for marketing organizations, but by 2020 they
are separated from pioneering new and emerging technologies to
engage audiences by only 1.6 percent.
- Customer experience drives brand equity: Raising
customer loyalty and better brand perception are the two top
benefits (both 53%) marketers aim to realize through a more
positive customer experience.
- Innovation will focus on small screens and no screens:
Mobile devices and networks (59%), personalization technologies
(45%), and IoT (39%) are the three technology-specific trends that
will have the biggest impact on marketing organizations by
2020.
- Marketers' influence is growing: Eighty-seven percent of
marketers believe their departments will exercise significant
influence over business strategy by 2020, with 78 percent expecting
to have the same influence over company technology decisions.
"The Path to 2020: Marketers Seize the Customer
Experience" includes qualitative, in-depth interviews with five
senior marketing executives. Of the recurring themes, one of the
most striking is that the customer experience – which is created by
marketing – drives brand performance through loyalty and
advocacy.
The survey also posits that leading CMOs organize their
departments to engage the customer with personalized experiences
anytime, wherever they are. As such, the EIU has provided a
descriptive framework titled, "The layers of engagement," which
illustrates best practices for how CMOs and other marketing leaders
can respond to competitive pressures and deliver value to their
organizations.
For more findings and to download the full report, please visit
http://cmo.marketo.com/research-and-resources/the-path-to-2020-marketers-seize-the-customer-experience.
Survey Methodology
The survey included responses from
499 CMOs and senior marketing executives worldwide. It was
conducted by The Economist Intelligence Unit (EIU) and was
sponsored by Marketo. More than 50 percent of respondents hold the
CMO title or top marketing position. Respondents are located in
North America (27%), Europe (30%), Asia-Pacific (36%), and Rest of World (7%).
More than 50% of survey respondents (52%) hail from companies with
more than US$500m in revenue.
About Marketo
Marketo (NASDAQ: MKTO) provides the
leading engagement marketing software and solutions designed to
help marketers develop long-term relationships with their customers
- from acquisition to advocacy. Marketo is built for marketers, by
marketers and is setting the innovation agenda for marketing
technology. Marketo puts Marketing First. Headquartered in
San Mateo, CA, with offices around
the world, Marketo serves as a strategic partner to large
enterprise and fast-growing small companies across a wide variety
of industries. To learn more about Marketo's Engagement Marketing
Platform, LaunchPoint® partner ecosystem, and the vast community
that is the Marketo Marketing Nation®, visit www.marketo.com.
About The Economist Intelligence Unit
The Economist
Intelligence Unit is the world leader in global business
intelligence. It is the business-to-business arm of The Economist
Group, which publishes The Economist newspaper. The Economist
Intelligence Unit helps executives make better decisions by
providing timely, reliable and impartial analysis on worldwide
market trends and business strategies. More information can be
found at www.eiu.com or www.twitter.com/theeiu.
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SOURCE Marketo, Inc.