The concept of multichannel marketing has reached a curious juncture; everyone appears to agree that doing it is make-or-break, customers expect it from the brands they interact with, and yet marketers don’t feel all that capable of delivering it.
Econsultancy, in conjunction with Oracle, recently published their third annual Cross-Channel Marketing Report and uncovered a number of intriguing statistics about where marketers feel they’re at, in terms of getting to grips with delivering campaigns cross-channel.
The research, based on a survey involving 1,000 digital marketers, found that only 7% of organisations feel they are “set up to deliver effectively orchestrated cross-channel marketing activities”.
Only 30% stating they had a cross-functional marketing team within their business, while just 19% said they currently measured the financial results of ‘integrated marketing’.
Unsurprisingly, a large proportion of marketers cite a lack of resources as underpinning their problems in delivery. However, one of the wider issues may be that less than half (43%) believe they “understand customer journeys”, and were unsure of how to adapt their journey planning to account for multichannel customers.
“The Econsultancy Cross-Channel Marketing Report shows that companies understand the key to delivering an effective campaign lies in achieving a better understanding of the customer journey,” said Simon Robinson, senior marketing and alliances director EMEA, Oracle Marketing Cloud. “However, less than half believe they are successfully monitoring the customer journey in order to inform their approach.
“Keeping the customer ‘switched on’ to your brand message is more challenging than ever before and this sentiment is highlighted in the report. Almost a quarter of companies (21%) questioned believe that the customer journey is the singular most important factor for a successful campaign.”
Customer journey mapping is increasingly being cited as a central component to understanding and retaining multichannel customers, with Salesforce’s Scott McCorkle recently proclaiming that “the future of marketing is the customer journey”.
Despite this, Econsultancy’s research showed that 40% of businesses are still “focused on acquisition” as opposed to retention, although 82% of marketers now agree that it is “cheaper to retain than acquire a customer”.