Marketers are still struggling to get personalisation right despite the myriad of martech solutions available to them.
Most marketers lack the necessary data, analytics and real-time systems needed to respond quickly to consumer behavior and intent, according to a survey from the CMO Council in partnership with Catalina.
Only 3% of marketers believe they are exceptionally effective in turning data and intelligence into marketing action, while 72% admit it takes them too long to act on insights.
As a result, 81% of marketers surveyed for the Measuring Marketing in the Moment report say they are challenged to meet consumer expectations for personalized engagement.
71% say their personalisation capabilities are evolving too slowly, stymied by an inability to effectively measure results, a lack of the right talent and budget, and an inability to access the necessary data.
“Brands and retailers have not yet closed the gap between consumer insight and shopper action and are, therefore, missing opportunities to respond in the moment of consumer need to influence purchase decisions, grow loyalty and improve engagement,” says Dave Murray of the CMO Council.
The marketers said they see critical data sources and capabilities like multi-touch attribution, digital engagement insight, real-time shopper behavior data and automated response capabilities as major needs to close the gap.
Multi-touch attribution is viewed, by far, as the most valuable data marketers need to improve their effectiveness, followed by digital channel engagement, location, and real-time shopper behavior insights.
However, only 5% of marketers say they are satisfied with their current metrics for measuring campaign effectiveness and just 10% are able to immediately move from intelligence gathering to marketing action.
Half of those surveyed said they cannot or do not adjust advertising and media mix mid-campaign to optimize results.
“Marketers need to prioritize winning in the moment by gathering, understanding and responding to buyer intent data and utilizing multi-touch attribution and automated capabilities to respond more quickly to the shopper and to optimize their campaigns in-flight,” Murray says.
CMO Council surveyed 150 marketing executives for the Measuring Marketing in the Moment report.
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