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Mapping the need of customers, increasing their delight, and mapping customers journey have emerged the top priorities for marketers, who are realising the importance of knowing their customers.
The rise of contextual marketing and the convergence of MarTech (marketing technology) and AdTech (advertising technology) has ensured that marketers are looking to invest in these platforms, according to a new study.
Market research firm Hansa Cequity spoke to leading CMOs across different industries to understand their focus areas, given the increased scrutiny on marketing investments, and the fact that marketers have to review their spending priorities and justify them.
Marketing spends
The agency found that marketing spends are set to increase over the coming years, with a majority of marketers looking to invest in content management systems, web analytics, mobile analytics and omnichannel marketing automation platforms.
Understanding and harnessing customer data and analytics, optimising investments in digital marketing , and making MarTech investments have all emerged as top priorities, as has hiring, managing and retaining marketing talent, the company said in a report.
Top priority
While customer journey mapping and marketing technology have emerged the top priority for the coming year, around 50 per cent of marketers surveyed said their marketing spends would increase, with only 3 per cent of marketers saying they would lower their marketing spends.
Marketers in sectors such as auto, pharma and consumer packaged goods said they were looking to increase their marketing spends, whereas a majority of financial services and retail marketers said spends would remain the same.
Of the marketers looking to increase their marketing spends, consumer packaged goods, retail, financial services and real estate marketers said they would raise it by the most, the study notes.
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