As per a survey conducted by marketing agency Merkle, the year 2020 will bring a new revolution in the marketing industry. Omnichannel marketing style is to overtake the traditional marketing strategies. 400 executives of major companies in both the U.S. and U.K. had undertaken this survey. The outcome of the survey indicated that approx. 88% of the marketers intend to bring in more omnichannel marketing strategies, whereas, approx. 58% of them intend to invest in data analytics and database.
Around 80% of these marketers claimed to find a rise in customer feedback in product strategy. Approx. 50% of them are of the view that it is the marketing department’s role to forecast the data and not of the IT department. Whereas, the other half said that each department in their organization has a clear understanding of their role. The only common point that they all agreed to is: in all organizations they work in conjunction with the IT departments to give effect to new marketing solutions.
Going by the survey report, approx. 75% of the marketers from all around the world have implemented personalization strata in 6 or fewer channels, with U.K. implementing in 5 or more and the U.S. in 4 or less of them.
As per the Merkle’s survey analysis, data proves to be the lifeline of this omnichannel approach along with personalization. Real-time personalization strategy tends to be more responsive than the predefined personalization strategy. Only 25% of the respondents have followed the real-time approach, with the rest going by the second approach or a blend of both.
With tech hubs like Google and Apple being so advanced in controlling user’s data, it adds-on to the marketer’s difficulty in collecting first-party consumer data. Merkle showed how marketers have found an alternative to gather first-party data- 72% of them count on brand promotions in return of consumer information, 69% of them follow the loyalty program strategy, 53% of them count on opt-in techniques and 40% still count on logins.
To evaluate the effectiveness of their campaigns, 71% of the marketers focused on calculating customer engagements on their site. Of all respondents, only 40% of them followed the multi-touch strategy. As per the Merkle’s survey, 59% of the marketers follow the direct conversion and sale policy, 55% of them focus on customer retention procedure, 54% focus on the ROI (Return On Investment), whereas, another 19% aren’t successful with any of the measures.
Where personalization is a boom to the present-day marketers, restricted data availability is their biggest concern. The increasing security on private data management have left no options for companies other than to maintain a privacy and personalization balance to sustain in the long run.
