70% of marketers (still) got it wrong in 2013
March 4, 2014
Last year, the majority of marketers failed to deliver the (real and P&L-quantifiable) business results their management expected them to deliver, such asmore sales, more market share, more sales-ready prospects and/or more conversions.
That’s one of the findings identified by The Fournaise Marketing Group through its 2013 Global Marketing Effectiveness Program, in which it measured the performance of marketers through multi-national interviews with some 1,200 decision-makers and also via actual performance results, to identify what worked, what did not (or what worked less effectively), where, when and why.
Fournaise tracked that in 2013:
1. 71% of marketers focused more of their campaigns/activities and budgets on New Media Platforms (particularly Mobile, Social & Digital) to deliver their marketing messages and engage with their target audience – thinking that using New Media Channels is the best way to get their campaigns/activities to deliver results. Unfortunately, Fournaise measured that the same marketers also spent less time and efforts researching, developing and testing attractive & relevant ‘Product Customer Value Propositions (pCVPs)’ and/or ‘Communication Customer Value Propositions (cCVPs)’ for the same campaigns/activities. The results: Fournaise tracked that these CVP-neglecting, New-Media-Will-Deliver Marketers performed 3 times lower on average (in terms of business results & ROI) than CVP-focused ROI Marketers – who also happened to use the same Mobile, Social & Digital Media in their message delivery channels mix.
2. 70% of marketers believed Marketing Automation, Omnichannel executions & Big Data management would be ‘game changers’ for them in 2013 – they therefore spent more of their time, efforts (and money) on these areas last year, instead of on pCVP and/or cCVP crafting and optimisation. The reality of results Fournaise tracked showed that 79% of these marketers admitted they still failed to unquestionably deliver (or prove their marketing spending unquestionably delivered) the level of business results & ROI expected of them by their management.
Jerome Fontaine, global CEO & chief tracker of Fournaise, said: “The key 2013 Marketing Performance Lesson is simple: campaigns/activities without crafted, researched and optimised CVP (pCVP and/or cCVP) Architectures will under-perform, regardless of the media channels they are deployed in. Unfortunately, we tracked that most CVPs were not audience-attractive and not audience-relevant enough last year.
“One of the diseases in the marketing industry is that marketers too often forget New Media, Marketing Automation, Omnichannel, Big Data and the likes are only Tools (the ‘Form’) used to best deliver, analyse and/or optimise the messages (CVPs). Those marketers who made the tools the core of their strategies got it wrong in 2013. In the tyre industry they say that power is nothing without control. In the marketing industry, form is nothing without the right content (CVPs).
“So, our #1 Marketing Performance Boosting advice to marketers for 2014 is that if they want to deliver (real) business results, they should remember that everything must start with the right CVPs & the right CVP Architectures – without them, talking about Customer Experience or Engagement (the 2014 buzzwords) is just a (big) waste of time.”