New ANA Research: How Marketers Deal With Industry Disruptions

For the third year in a row the ANA in partnership with McKinsey ampamp Company surveyed a sample of its members to find out what the top industry disruptions were and whether they were finding ways to successfully overcome them Results revealed not only that consumer desire for instant gratification was the most disruptive force last year but that it was caused by the same thing marketers have been using to solve it technologyamp8220When consumers are ordering Tshirts they can get the same day from Amazon and streaming movies instantaneously they are expecting that kind of service in all parts of their livesamp8221 says Brian Deffaa Group Vice President of Marketing at SunTrust Mortgage amp8220Competitors have sprung up and stolen lots of share because they allow consumers to give instantaneous feedback on what they should do and how they should operate If you can remove that friction customers are more likely to come to you especially when youamp8217re selling a commodityamp8221The challenge for brands is that for every new app platform or measurement tool that emerges a testandlearn period follows and best practices are yet to be discovered Marketers not only have to learn how to best use the technology at their disposal they also have to decide which platforms to adopt to best connect with their audiencesThere is positive news for brands though In 2016 some marketers were better able to meet consumer expectations by taking ownership of their organizationamp8217s marketing technology strategy Brands that invested in marketing technology yielded an average of 10 percent new revenue from their campaignsBut there is still room for improvement Almost half of respondents said their marketing and IT teams do not collaborate making it difficult to integrate technology into their marketing processes or measure results Many said they plan to reverse course during the next two years by investing in personalization tools content platforms and social and analytics technologiesamp8220Having an effective marketing technology strategy in place is critical to keeping up with customer demandsamp8221 says Todd Kaiser of the ANAamp8217s Marketeramp8217s Edge research program amp8220The research shows us that making a commitment to technology investment and the development of digital skill sets can lead to significant resultsamp8221The rapid rate at which marketing technology is evolving with the almost exponential annual increase in the number and types of solutions coming to market is itself a disruptor But as this study has shown marketers view technology as the way to turn disruptions into opportunitiesFive Key FindingsConsumer behavior drives marketing technology investmentsamp160 Oneclick purchasing sameday delivery instant search results and a ubiquitous media presence shape the demands and expectations that consumers have of the brands they interact withSuccessful companies are investing in new technologies and people in response to disruptionsamp160 Technology investments enable agile crossfunctional teams that can accurately test and measureMarketingamp8217s ownership of marketing technology strategy is critical to successamp160 As marketers actively invest in new technologies to mitigate the disruptions they experience it is crucial to ensure that the technologies serve the business not the other way aroundTechnologyproduced insights lead to increased ROIamp160 Fortynine percent of companies that outperform the market have all the marketing tools they need compared to just 16 percent of their poorerperforming peersFull marketing technology integration drives effectiveness but barriers still exist The most important barrier to address is lack of a clear strategy for the adoption of marketing technologyClick the social buttons above or below to share this content with your friends and colleaguesThe opinions and points of view expressed in this article are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated bloggers

Click to Make Your 2025 Contribution to Support the MediaVillage Education Foundation

New ANA Research: How Marketers Deal With Industry Disruptions

Author

Publish date

Channel

Kerry Breen

"About That" with Carl Mayer: Corinne Casagrande (Episode 8: Consumer Spending) - By Carl Mayer

More Videos:

Click to Make Your 2025 Contribution to Support the MediaVillage Education Foundation

New ANA Research: How Marketers Deal With Industry Disruptions

Enjoying This Commentary? There's More to Love

Kerry Breen

"About That" with Carl Mayer: Corinne Casagrande (Episode 8: Consumer Spending) - By Carl Mayer

The payment was successful

Cookies