Businesses across the U.S. are reporting improved conditions but the route to profitability will mean doing more with fewer resources. This trend is especially true for companies with over $1 billion in annual revenue. A newly released Accenture report indicates that “growing profitably” is a top priority but at the same time customers expect more from their service providers. The new competitive pressures mean big changes are in store for large company marketing departments.

Large businesses say they are using the following key marketing channels very effectively:

  • In-person contact 37%
  • Use customer recommendations 25%
  • Corporate website 19%
  • PR, TV or radio advertising 14%
  • Online advertising 13%
  • New digital marketing 13%
  • Direct mail/telemarketing 10%
  • Online communities 11%

But despite their effective use of multiple touch points, businesses say customer expectations are higher in these areas:

  • Product quality 71%
  • Value 72%
  • Price 69%
  • Customer service 66%

To achieve a marketing transformation, more executives expect to see the marketing department “be better integrated with the CEO and/or Board of Directors level in order to create more visibility and support.” These organizations plan to improve their marketing ROI initiatives. Customer analytics will also be an area of focus as even larger companies want to focus on each individual customer.  And large companies are taking a page from the playbook of their smaller competitors. These marketers plan to increase and improve their efforts in the digital world – especially with online communities.

[Source: Onward and Up. Accenture.com. 2010. Web. 17 Aug. 2010]