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Marketing Freakonomics: When Marketing Objectives and Customer Expectations Don’t Match

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A recent global study, commissioned by Acquia, uncovered a major discrepancy between marketers’ objectives and customers’ actual experiences.

Almost three-quarters of Australians will abandon a brand for another when the online experience is poor.
Four in five marketers in Australia say when they think of their total experience with a brand, the marketing is mostly ineffective.
Almost two-thirds of marketers say they are dealing with technology that is just too complex to create good customer experiences.

The annual Acquia CX Research Report, conducted by leading market research provider Regina Corso Consulting reveals that marketers are unable to create a cohesive customer experience due to disconnected marketing technologies (losing money on their marketing investments, in the process) and consumers are still dissatisfied with brand experiences, because they aren’t intuitive or personalised.

During this live webinar, Regina Corso will explore the delta between money spent on marketing technology and revenue lost to failed customer retention each year on a global scale, as well as the opportunities that exist for success

About the presenter:

Regina Corso, president and founder of Regina Corso Consulting, is viewed as one of the nation’s premier public release experts with nearly 20 years of experience leading surveys and research projects for PR and communications programs.

She is the source of more than 2,500 public release surveys, quoted in hundreds of U.S. and international media outlets ranging from USA Today, The Wall Street Journal, and CNN, to Fox News, BBC, and Investors’ Business Daily, and more.

Published in: Technology
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Marketing Freakonomics: When Marketing Objectives and Customer Expectations Don’t Match

  1. 1. Marketing Freakonomics: When Marketing Objectives and Customer Expectations Don’t Match Regina Corso, Founder of Regina Corso Consulting Cassandra Theocharous, Marketing, Acquia
  2. 2. Welcome to Today’s Webinar! MODERATOR Cassandra Theocharous, Senior Marketing Specialist, Acquia RECORDING & SLIDES Will be emailed to you within the next couple of days. QUESTIONS? Submit your questions in the Q/A Tab and we’ll attempt to answer them at the end of the presentation. Follow Us ! @acquiaAPAC
  3. 3. Acquia is the open source digital experience company. We provide the world’s most ambitious brands with technology that allows them to embrace innovation and create customer moments that matter. At Acquia, we believe in the power of community — giving our customers the freedom to build tomorrow on their terms.
  4. 4. Acquia at a glance Note: Where relevant, metrics are updated as of 1H 2018. The Leading SaaS Provider of Digital Experience Solutions Supported by Cloud technology to build, operate and optimize experiences at scale HQ in Boston With 15 global offices in 7 countries 36% of ACV sourced by partners 58% YoY growth in new product ARR ~$200mm total revenue (2018 Plan) ~110% Net dollar retention rate Platform for Acquisitions Cash flow-positive in 2H 2018 4,000+ Customers (1,600 Enterprises) major global names Driven by Drupal, the world’s largest open-source project (Measured by number of active contributors) 20%+ Organic ARR and Subscription Revenue YoY growth ~800 Employees
  5. 5. Acquia’s Customers Are Leading Organizations Across a Variety of Sectors
  6. 6. Marketing Freakonomics – When Marketing Objectives and Customer Expectations Don’t Match 6
  7. 7. Introduction • Acquia commissioned Regina Corso Consulting to conduct a survey of marketers and consumers in five countries to look at similarities and differences between the two groups. • Specifically, this survey hopes to put a spotlight on the perceived delta between money spent on marketing technology and revenue lost to failed customer conversions and retentions each year. • It will also uncover discrepancies between marketers’ objectives and customers’ actual experiences. • This presentation looks at the responses from Australia, but does highlight a few areas where the difference between Australians and their counterparts in France, Germany, the U.K. and the U.S. are large. 7
  8. 8. Methodology • This survey is among 5,504 respondents in total with 5,003 consumers with 1,000 from Australia, 1,000 from France, 1,000 from Germany, 1,000 from the United Kingdom and 1,003 from the United States and 501 marketers with 100 from Australia, 100 from France, 100 from Germany, 100 from the UK and 101 from the U.S. The consumers are all 18 and older and the sample is balanced by age and gender for each country. The marketers are directors and above and their company has an annual revenue of 10 million or more. • This survey was conducted online between August 14 and 28, 2018. • Notes for reading charts and tables – percentages may not add up to 100% due to rounding or because the question was a multiple response allowed item. Unless otherwise indicated, bases for all slides are either 1,000 consumers or 100 marketers. 8
  9. 9. Key Headlines Almost three-quarters of Australians will abandon a brand for another when the online experience is poor. Loyalty is key – almost four in five Australians are loyal to certain brands until they have a bad experience with then and then they are moving on to another brand. 9
  10. 10. Key Headlines It’s their data! Four in five Australians say brands should not be able to use their personal data to try and market different things to them. 10
  11. 11. Key Headlines Almost two-thirds of marketers say they are dealing with technology that is just too complex to create good customer experiences. Nine in ten Australian marketers say a human touch is still needed in addition to technology for a positive customer experience. 11
  12. 12. Key Headlines Four in five marketers in Australia say when they think of their total experience with a brand, the marketing is mostly ineffective. 12
  13. 13. CONSUMERS VERSUS MARKETERS 13
  14. 14. What role does technology play? Q How strongly do you agree or disagree with the following statements? 14 % saying Strongly/Somewhat agree
  15. 15. How do people feel about brands? Q How strongly do you agree or disagree with the following statements? 15 % saying Strongly/Somewhat agree
  16. 16. Marketers feel one way… Q When you think of your customers’ expectations, how confident are you that the customer experiences you are delivering meet those expectations? Marketers 16 89% 11%
  17. 17. …But do consumers agree? Q How strongly do you agree or disagree with the following statements? 17 % saying Strongly/Somewhat agree
  18. 18. Of course they’re comfortable! Q How comfortable do you think customers are providing their personal data in exchange for an improved experience (more perks, more personalization, etc.)? Marketers 18 86% 14%
  19. 19. No, we’re not that comfortable. Q How comfortable are you in giving brands your personal data in exchange for an improved experience (such as perks like freebies or more personalized offers, etc.) Consumers 19 49% 51%
  20. 20. Still not that comfortable. Q How comfortable are you with brands knowing things about you when you didn’t realize they had that information? (i.e. you receive an offer for their product that you searched about the week prior.) Consumers 20 20% 49%
  21. 21. And, here is one reason we’re not comfortable. 21 Q How confident are you that brands have your best interests in mind when they use, share and/or store your personal data? Consumers 64% 36%
  22. 22. Australians are right in the middle when it comes to comfort level. Q How comfortable are you in giving brands your personal data in exchange for an improved experience (such as perks like freebies or more personalized offers, etc.) Consumers 22
  23. 23. CONSUMERS 23
  24. 24. Brands sort of understand consumers. Q Thinking of brands you regularly interact with, how well do you feel they understand who you are (and can provide what you’re looking for/anticipate your needs)? Consumers 24 61% 36%
  25. 25. Australians believe brands need to do better. Q How strongly do you agree or disagree with the following statements? Consumers 25 % saying Strongly/Somewhat agree
  26. 26. Loyalty is a complicated idea for consumers. Q How strongly do you agree or disagree with the following statements? Consumers 26 % saying Strongly/Somewhat agree
  27. 27. Brands’ interaction levels are about right. Q When it comes to how brands interact with you, which is closest to how you feel? Consumers 27
  28. 28. Interaction, however, isn’t always easy. Q How strongly do you agree or disagree with the following statements? Consumers 28 % saying Strongly/Somewhat agree
  29. 29. MARKETERS 29
  30. 30. Marketers have some struggles. Q How much of a struggle, if at all, do you feel each of these are? Marketers 30 % saying Somewhat/A large Struggle
  31. 31. No concerns over meeting security requirements. Q How much, if at all, do you believe I each of the following? Marketers 31% saying Believe Some/A lot
  32. 32. They have the ability to act on and capture data. Q How strongly do you agree or disagree with the following statements? Marketers 32 % saying Strongly/Somewhat agree
  33. 33. Personalization is hard to deliver today. Q How strongly do you agree or disagree with the following statements? Marketers 33 % saying Strongly/Somewhat agree
  34. 34. Satisfaction with customer experience tech providers is high. Q Thinking of your customer experience technology providers, how satisfied, if at all, would you say you are with them overall? Marketers 34 91% 9%
  35. 35. But, those tech providers aren’t perfect. Q How strongly do you agree or disagree with the following statements? Marketers 35% saying Strongly/Somewhat agree
  36. 36. Currently, 44.5% of customer experience tech platforms are integrated and 53.6% should be. Q What percentage of your customer experience technology platforms are currently integrated with each other? Marketers 36
  37. 37. They are spending enough. Q Do you believe your organization is spending enough on marketing technology? Marketers 37 78% 22%
  38. 38. They’re spending more this year than last year. Q Compared to last year, how much are you spending this year on technology for marketing? Marketers 38 61% 10%
  39. 39. Australians are right in the middle for spending for this year. Q Compared to last year, how much are you spending this year on technology for marketing? Marketers 39
  40. 40. Marketing strategies for next 12 months have a lot of parts. Q How much are each of the following part of your marketing strategy for the upcoming 12 months? If you are not sure, please use your best estimate. Marketers 40 % saying Some part/ A lot of
  41. 41. Key Takeaways • Technology is great, but marketers have to be sure it’s what consumers want… Marketers are very eager to include AI in many aspects of their marketing technology yet consumers aren’t sure that will make their experiences any better. • Brands may be meeting expectations, but both consumers and marketers agree – they can’t remember the last time a brand experience exceeded their expectations. • Confidence and comfort gap – marketers are more likely to think customers are comfortable giving their personal data for potential perks than customers actually are. Much of this is probably due to a lack of confidence by the consumers in how brands are handling and storing their personal data. • Marketers are generally satisfied with their vendors, but they need their various market tech solutions to work together and can’t make that happen. 41
  42. 42. Questions? Submit your questions in the Q/A Tab and we’ll attempt to answer them. To learn more about how Acquia can help you, visit Acquia.com Follow Us @acquiaAPAC
  43. 43. THANK YOU

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