Innovation & Data will drive Marketing Agendas in Uncertain Times

29 May,2020

 

By A Correspondent

 

CRM leader Salesforce has released the sixth edition of its State of Marketing report which revealed that as technology drives customer expectations to new heights, Indian marketers have emerged as not just messengers, but engagers who foster meaningful customer relationships well beyond the first purchase. The research also found that standards of customer engagement are shifting again, and Indian marketers are prioritising innovation in a radically altered landscape.

 

For the 6th edition of the State of Marketing report, Salesforce collected data from nearly 7,000 marketing leaders across the globe, spanning six continents, just as the Covid-19 crisis emerged. After carefully dissecting the survey results, Salesforce Research deemed that the insights in this report provided significant relevance, value and a helpful guide to marketers as they navigate through these uncertain times.

 

Said Sunil Jose, SVP, Salesforce India: “The COVID-19 crisis is forcing marketers in India to rethink every aspect of their business – from strategic priorities and challenges, to the technological and team skills they will need — as they navigate getting back to work during a global crisis, and then continuing to transform the customer experience to be best positioned for success in the years ahead. The insights in this year’s State of Marketing report are a helpful guide for marketers as they journey to recover and transform their business.”

 

The trends revealed in the State of Marketing report were collected from marketing leaders from B2B, B2C and B2B2C companies across 30 countries, including 300 respondents from India, which showed the following:

 

:: Marketing Transformation Takes On New Urgency: The expectations and behaviors of consumers, businesses, and society at large are shifting with unprecedented speed and magnitude. Marketers are at the forefront having been increasingly tasked to take a leadership role, with 87% in India leading customer experience initiatives across their companies. This involves a combination of both technological and organizational innovation. In India, innovating is the top priority for marketing leaders, while insufficient organizational structure and processes is their top challenge.

 

:: Customer Data Sets the Stage for Empathetic Marketing: As customers navigate a series of “new normals,” personalized, empathetic engagement has never been more important. Delivering messages and offers that resonate with an individual’s unique needs and expectations requires deep insights. Marketers are shifting how they source and manage customer data and ramping up use of technologies like artificial intelligence (AI) that help them make the most of it. In India, marketers are expected to go from 20 data sources in 2019 to 25 projected data sources in 2021 and report a 118% increase in AI adoption since 2018.

 

:: Marketers Double Down on Business Value: As businesses shift from crisis triage to recovery and adaptation, marketers have a unique opportunity to turn trusted customer relationships into business value. Marketers increasingly track metrics like customer satisfaction, digital engagement, and lifetime customer value to gain a holistic picture of what’s working and what isn’t across the customer journey. B2B marketers have a particularly strong role in business growth through account-based marketing (ABM). In India, 65% ofmarketers track customer lifetime value (LTV) to measure success.

 

For full report, visit: https://www-stg.salesforce.com/form/pdf/6th-state-of-marketing/

 

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