The Current State of Marketing Agility. Joint market research between Teradata Marketing Applications and Forbes Insights

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1 The Current State of Marketing Agility Joint market research between Teradata Marketing Applications and Forbes Insights

2 Survey Background and Methodology Forbes Insights and Teradata Marketing Applications recently conducted a global survey of more than 300 marketing leaders in major enterprises (i.e., financial services, healthcare and medicine, insurance, retail, and technology) with $501M+ in annual revenues. The goal of the study was to discover the role of Individualised Marketing in business today and to define how marketing agility can help build stronger customer connections. Introduction Today s hyper-distracted digital environment creates a great deal of marketing chaos. Customers are now in control of their own marketing experiences, and they have high expectations of their favorite brands. Marketers who are able to keep customers at the forefront of all their marketing activities while gaining a true understanding of their habits and pain points are the ones best positioned to create strong, individualised, and agile connections. One of the key components of Individualised Marketing building experiences with an individual on her channel of choice in a consistent, dynamic, and engaging way is marketing agility, the ability to quickly adapt or refocus efforts in response to changes in customer behaviour, market conditions, and business direction to benefit market share or share of wallet. 2 MARKETING.TERADATA.COM

3 The Current State of Marketing Agility The heart of marketing agility is about marketing organisations streamlining collaboration and efficiency while simultaneously fine-tuning performance and optimisation, including the execution of these key initiatives: Centralising the management of all marketing programs Aligning marketing activities to budgets and spending accounts Developing reusable process workflows Responding at the speed of the customer Adjusting campaign execution based on analytical insights Improving marketing performance by employing proven strategies for success Remaining agile throughout a campaign so changes can be made in real time Recognising the benefits of becoming a truly agile organisation, approximately nine out of 10 89% of marketers envision incorporating more agile marketing into their organisation over the next year 38% of marketers believe they are already fully agile, there are far more marketers... 62%...who have not fully adopted agile marketing. Some of the top challenges marketers face in their attempts to become an agile organisation include: 42% 40% 31% Battling bureaucracy Proving the ROI of agile marketing Addressing budgetary issues Marketing agility includes both technology and process considerations. Although both components technology and process must come together to create a truly agile organisation. 45% of respondents say technology is the most critical factor to the success of agile marketing 33% of repondents consider process/organisation to be the most critical factor 3 MARKETING.TERADATA.COM

4 How Do Marketers Stack Up? There are three primary operations considerations in agile marketing, including: 1 Planning & Spend Management 2 Workflow & Collaboration Management 3 Marketing Asset Management The ability to fully access limited marketing resources so marketers can get the most ROI from their marketing initiatives. The ability to prioritise and execute all incoming marketing requests with pre-established, reusable workflows. The ability to design, edit, produce, and deliver creative assets that consistently and automatically invoke executive, marketing, and legal approval mechanisms. The first roadblock to marketing agility is that less than half 46% of marketing operations or finance professionals have implemented a planning and spend management system. Without visibility into and the ability to make in-campaign adjustments to marketing resources, both marketing costs and missed opportunities increase. Although marketing operations and finance professionals top criteria for agile marketing is increased customer response, only 11% of them have achieved it. In the same vein, marketing communications professionals top measures for agile marketing is higher metrics and KPIs but 0% have reported achieving that goal. And product/brand marketers report their top measure for marketing agility as fewer layers of marketing approval 9% have successfully achieved that milestone. So, how do marketers address these challenges and ensure disparate groups are working together more effectively? By implementing consistent processes and tools for planning, collaboration, and performance. When technology and process align, innovative marketers are able to break down the silos that exist within their organisation and take action on the integrated marketing insights they ve revealed in order to improve marketing agility and overall results. Consider, for example, an organisation that produces marketing materials in-house as well as with external agencies. Without a collaborative process and technology that helps automate reviews and approvals, re-work, duplication, and frustration are inevitable. By ensuring all contributors have visibility into the same data insights and access to the same technology, approved assets can be developed, repeatable workflows can be established, and in-campaign course corrections can be made to ensure the most successful results. 4 MARKETING.TERADATA.COM

5 Your Trusted Partner in Enabling Marketing Agility Teradata Marketing Applications is a trusted partner in helping enterprise global marketing organisations in retail, travel, entertainment, healthcare, pharma, telecommunications, and other industries become more agile, increase efficiency, and improve productivity. For 14 years running, we ve been recognised as a leader in the Marketing Resource Management space with leading solutions and services that enable marketers to: Streamline organisational workflows Increase marketing collaboration and transparency Utilise flexible cloud-based and on-premise deployment options Increase marketing agility and efficiency With our leading technology, marketers achieve more fluid processes and higher quality output, all fueled by a more efficient, more productive team. In fact, our Marketing Resource Management customers have: Reduced operational costs by up to 45% Achieved 20% increase in campaign response Launched revenue-generating campaigns 50% faster Saved 20% of budget by cutting misaligned spend With our leading marketing operations management platform, Teradata Marketing Applications helps marketers become better aligned, more efficient, and highly agile, resulting in more successful campaigns, stronger customer connections, and a boost to the bottom line. To learn more about the benefits of becoming an agile marketer, and to understand why personalisation is out and individualisation is in, download the Forbes Survey Highlights on our website. 5 MARKETING.TERADATA.COM

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