For many marketers with annual revenues that exceed $250 million, 2011 is looking better than last year. But that doesn’t mean they’re about to let down their guard. The latest research from Forbes Insights shows that these companies are already planning how they’ll focus their marketing efforts in 2012.
This year, large marketers say that their top marketing spending priorities are customer retention (39%), customer acquisition (36%), and branding (34%).
Large companies aren’t always known for moving nimbly in response to market changes. And the same could be said about their internal processes like advertising and marketing. When surveyors from Forbes Insights asked marketing executives which developments surprised them this year, the following developments were at the top of the list:
- Twitter’s strength as a marketing tool
- Fast rate of smartphone/tablet adoption
- Rise of flash sales (Groupon)
Marketers are scrambling to catch up in these areas. And for next year, executives believe that app overload could be an issue. In the next 12 months, these marketers say customer retention (41%) and acquisition (41%) will remain key marketing priorities.
What has grown more difficult in general, is tracking and measuring marketing campaign effectiveness across the many channels which have become available. While marketers may have an idea of how well a particular online promotion has gone or know how much sales have increased as a result of direct mailing, they lack integration knowledge. Almost half of executives say that comparing channel performance to get a top-down perspective is difficult or very difficult. This is an area that technology improvements will likely target soon.[Source: Bringing 20/20 Foresight to Marketing. Forbes Insights. June 2011. We. 28 Jun. 2011]