CMOs say digital will transform budgets

Warc, 23 June 2014

NEW YORK: Over three-quarters (78%) of global marketing executives expect digital and mobile technology to transform corporate marketing over the next five years, a new survey has shown.

However, the poll of nearly 600 senior executives in 11 countries by Accenture Interactive, the management consultancy, also found 79% think their organisation will not be a fully digital operation over the same period.

Furthermore, more than one-third expect 75% of their marketing budgets to comprise spending on digital, and 41% expect their spending on digital marketing to increase by more than 5% within the next year.

With digital marketing accepted by so many marketers as likely to transform the industry, Accenture advised companies to adapt to the new environment or risk being left on the sidelines.

To improve the customer experience – only 62% of respondents believe their organisation currently achieves this – Accenture recommended marketers increase their links with the C-suite and to focus marketing campaigns on desired outcomes rather than on sales.

It also urged them to devise campaigns that improve customer engagement and to develop an "ongoing dialogue", or a relationship that it said should cover "the whole spectrum of sales, service, retention and loyalty".

"As marketing executives are increasingly embracing digital, they can be catalysts to help their company take advantage of the wider digital opportunity and protect against broader digital threats," said Brian Whipple, senior managing director at Accenture Interactive.

To help drive the digital transformation of their organisations, he said marketers should extend their vision beyond traditional boundaries.

"The opportunities, as well as the potential and real threats, are all about the customer, the brand, the interface with the customer and how the customer is empowered," he said.

Data soured from Accenture; additional content by Warc staff