Black Ink performed a C-level 2016 Marketing Study, surveying marketers from the top 2000 largest companies in the United States by annualized revenue with a collective marketing budget of $5 billion dollars in labor and costs.
Key Learnings from Black Ink's Study
- Marketers' priorities are to further advance brand relevancy and customer-centricity that will require dramatic improvement for Marketing Technology infrastructure and omni-channel capabilities.
- Access to advanced analytics to make smarter decisions” is the single greatest barrier to achieve success across the board.
- Inter-/Intra-department relationship building is important to future success, though it is largely ignored as a priority in 2016.
- In general, marketers would rather over-invest in customer retention and upselling efforts, rather than customer acquisition.
- Marketers are confident on reporting tactical campaign success but struggle to deliver marketing’s financial contribution requirements to the C-suite and upper management.
- The top 3 Martech categories most likely to be purchased in 2016 are Business Intelligence, Marketing Automation, and Customer Interaction software solutions.
It's fascinating to me that marketers have come to the realization that all aspects of the customer experience are impacting retention, yet they are not working to bridge the gap with other departments. I'm not sure how you improve your acquisition and retention efforts without closely working with your sales, product, service, and management departments in a day and age where your reputation is public and accessible online to everyone. the barriers to success in tools, resources, and leadership are detailed in the results… but how do you improve those without communicating the brand and ensuring its success across deparments?
From a tool standpoint, Marketing Technology is a fractured collection of thousands of solutions. The big players like Salesforce, Microsoft, Oracle, SAP, and Adobe continue to buy up smaller platforms that correct niche issues – but there's little doubt that this is a complex industry with tons of tools and overlap. I have a feeling that there's not a lot of overlap in marketing stacks between these companies outside of those major players.
Black Ink ROI's C-level 2016 Marketing Study highlights some of the general, wide-sweeping marketing trends affecting these global companies, but also some unique nuances between company cultures, budget preferences, challenges, and opportunities.
We work with some very large companies as well as small startups and I'm not sure the view is much different between them. Outside of budget and resources, small and medium-sized businesses are still looking for better reporting, automation to maximize resources, and programs to increase customer experience. At least we all have that in common!
About Black Ink ROI
Black Ink ROI is SaaS-based, advanced customer-analytics platform for sales, marketing and P&L leaders to improve customer acquisition, retention and upselling growth opportunities.