Study Identifies Six Marketing Trends to Watch For
Are you a marketer? If so, you’ve probably seen your job function evolve over the last several years, and the field is only going to continue to shift. A survey of almost 500 marketing executives reveals some of the potential changes on the horizon.
The jobs of marketers are changing faster than ever, according to a survey of nearly 500 chief marketing officers and senior marketing executives around the world.
More than 80 percent of those surveyed said they need to restructure their marketing departments to better support their organization’s business, according to the survey report, “The Rise of the Marketer: Driving Engagement Experience and Revenue.”
How will the job function of marketers evolve? The survey, conducted by the Economist Intelligence Unit and sponsored by marketing automation software provider Marketo, identified six major areas of change over the next several years.
Marketing will be viewed as less of a cost and more of a revenue source. Respondents reported that within three to five years, roughly four out of five businesses will classify marketing as a revenue driver.
The customer experience will be in the hands of marketers. About 75 percent of marketers reported they will be responsible for the end-to-end experience over a customer’s lifetime.
Engagement is becoming a key to successful marketing. Most respondents defined engagement as customer renewals, retention, and repeat purchases. Only 22 percent viewed engagement as love for a brand.
Marketers will need to be jacks of more trades. The number of skills needed for successful marketing efforts is growing. Areas that respondents identified as the most in need of development included digital engagement, marketing operations and technology, strategic planning, data analysis, and customer acquisition.
Most marketing investment will be in technology and data. The top three investments among respondents involved reaching customers through digital channels: social media, mobile devices, and email, respectively. The fourth most popular investment was data analytics.
Personalized mobile and the Internet of Things are trends to watch. The potential for personalization that comes with technology innovations, such as personalized mobile communications and a network of interconnected things, is expected to revolutionize marketing over the next five years, according to just more than half of respondents.
If you’re an association marketer, how closely do these predicted changes resonate with how you see your job function evolving over the next several years? Please share in the comments.