We live in unprecedented times.
This is the new normal.
These times represent a serious reset.
The market suffers from uncertainty.
Large resignations and silent resignations make it difficult to retain talent.
All the above statements are true. Everything seems to go faster now. Technologies are developing at an ever faster pace. Customers are becoming more networked and thoughtful in their discussions. Values play an important role in the decision-making process and in dealing with brands. As a result, companies cannot rely on outdated approaches to business transformation, customer engagement, IT or branding. Furthermore, companies cannot agree to a new or upcoming normal regime in the near future. We now live in a new economy, a time when relying on the assumptions, checklists, and textbooks of the past will hinder our ability to take advantage of the unique opportunities inherent in the moment. CTRL-ALT-DELETE The question leaders must ask is: do we start again as a digital version of our past, or do we need to reinvent productivity, relevance and agility?
To be competitive in this new economy, companies must move faster, innovate, understand and even anticipate the unique needs and expectations of the people who make up their markets. This is where meaningful change always begins, understanding how to do it and be better for stakeholders, customers, partners, planet and people.
According to Salesforce's new State of Marketing report, companies are preparing on four fronts: 1) evolving in the face of uncertainty, 2) preparing to phase out third-party cookies, which will make it harder for customers to understand, 3) . breaking down silos to optimize data, and understanding and improving the user experience, and 4) innovating to meet changing customer needs.
Marketing seems to have taken off, with 87% of marketers saying their jobs are worth more today than they were a year ago.
As Sarah Franklin, marketing director stated, “it's a time of massive change that requires us to rethink the way we communicate with customers and personalize each interaction; Achieving our budget and business objectives in an uncertain economic environment; and adhering to our values to help shape a better, fairer and more sustainable future.
He is not alone. According to a Salesforce study, 91% of CMOs say they need to constantly innovate to stay competitive.
Meaningful change starts with trust
Connecting the dots and building new bridges between brand, business value and customers are not the last challenges. Resources are limited. Supply chains are tight. Budgets are being cut. Macroeconomic uncertainty is widespread. To make meaningful progress, marketers need to get back to the basics.
In a State of the Connected Customer report, Salesforce learned that 88% of customers believe trust is more important in times of change. CMOs in particular focus on "building trust" among their top three priorities. Building and maintaining customer trust was also mentioned as the fourth most important challenge.
Marketers prefer tools and innovations based on choice
According to the Salesforce State of Marketing study, marketers are focused on optimizing their investments in technology and resources. Limited or unoptimized use of tools and technologies is one of the biggest challenges and priorities for marketers.
In this new economy, consumer preferences are changing, buyer behavior is changing and customer expectations are rising. Marketers look to the future and make "experimenting new marketing strategies" their second priority.
New business strategy center for digital modernization and innovation
Marketers help shift business strategy by focusing on growth opportunities and improving customer relationships.
Marketers report success in opening new customer segments. They are also investing in digital experiences for digital service customers. As a result, companies are forced to change their business models, expand their product offerings and geographies, and change the way they work.
Collaboration technologies and process/workflow automation unite dispersed teams and free up talent to focus on more creative work. This highlights the importance of increasing productivity, efficiency and creativity. In addition, these investments are considered long-term or permanent changes in strategy.
Improve customer relationships by putting data and information at the center of your digital business
According to a recent study, 56% of customers expect personalized offers regardless of channel. And CMOs cite customer expectations as a key influencer on digital strategy.
With trust at the forefront of what customers expect from businesses, authentic, personalized and relevant interactions reign supreme. Data is at the heart of this transformation, redefining what it means to have a better customer experience with actionable information. Marketers strive to break the disconnect by effectively unifying data to build relationships across the entire customer lifecycle.
Brands are increasingly using digital tools, CRM systems and artificial intelligence to create unique customer profiles, automate data-driven campaigns and deliver personalized and scalable customer experiences.
To meet customer expectations about the definition of personalization, for example, "To meet!" Organizations must continue to prioritize customer-centric business transformation.
In addition to known transaction data and digital identities, 75% of marketers still use third-party data such as device identifiers and data aggregators or broker cookies. 68% say they already have a fully defined strategy for moving to proprietary data and zero fractions. Additionally, more than half of marketers are encouraging the sharing of customer information (56%) and investing in new technologies, such as customer data platforms (51%), to increase customer data profiles without third-party cookies.
According to Gartner's 2021 Cross-Functional Customer Survey, only 14% of organizations have a 360-degree view of their customers. And of those who did, 44% say their 360 view is in a customer data platform.
The value of jewelry is increasing
For today's consumers, products and services are only part of what is important to them. Alors que les Clients essaiient de suivre le rythme d'un monde en évolution rapide, les valeurs et integrité figurent en tête de la trust, en plus de la trust, de ce qui important in their Prize de decision and their relationships with the brand . 88% of customers expect companies to clearly state their values.
For companies whose values are pushed and not reexamined, they may pay the ultimate price. One study found that 66% of customers stopped buying from a company that didn't align with their values.
Leading companies don't just listen, they make their business a real platform for change. 93% of highly effective marketers say their outbound messages reflect company values, compared to 70% of their less effective competitors.
Marketers are exploring the frontiers of the future
If we have learned anything from the beginning of this new economy, it is that digital transformation is continuous. With marketers making "experimenting with new marketing strategies and tactics" a second priority, it makes sense that tomorrow's digital trends will find a place on radar screens. Digital trends that define the next Internet, such as virtual/augmented products, augmented and virtual reality, cryptocurrency, NFT, Metaverse and Web3 are at the top of the list of experiments.
For example, 51% of marketers said they already have a strategy for Web3. And the main elements of web3 strategies are based on virtual products, VR/AR and cryptocurrencies.
What is measured in real time determines how the company competes and grows in the digital world
As marketers play an increasingly important role in business transformation and innovation, KPIs evolve with real-time information.
Marketers are increasingly investing in real-time analytics to understand the impact of their marketing messages, campaigns and spend. The sooner they have this information, the sooner they can respond to customer needs and expectations. The goal is to make informed decisions, provide personal and relevant customer interactions, and facilitate rapid and scalable business growth.
Nearly three-quarters (72%) of high-performing marketers can analyze their marketing effectiveness in real-time, compared to 61% of low-performing marketers. This gives real-time organizations a competitive edge when it comes to responding and optimizing campaign performance. And believe it or not, one-third (33%) of marketers say their marketing allocation is a manual process.
Keeping fit in the new economy is a business imperative. As marketing budgets are reviewed, analytics provide managers with the information they need to optimize spend, reduce acquisition costs, and increase the value of marketing precision.
In addition to traditional metrics, marketers now track KPIs that align with business performance. Revenue, customer satisfaction, customer loyalty, and retention are key metrics tracked by the most successful marketers. But marketers also cite measuring marketing ROI/attribution as a second challenge, meaning there's still work to be done.
Investing in an innovative sales organization secures the company's future
What is clear is that market dynamics and new technologies are changing the way companies communicate with their customers.
The new economy will continue to evolve in constant change. By evolving with the times, trends, tastes and technologies, marketers can help businesses get closer to their customers, deliver more of what matters in a relevant, intuitive and personal way, and use next-generation technologies to help businesses innovate. and compete