Small Group of Marketers Thrive Despite Constant Market Disruption, Accenture Says
Nearly 70% of global marketers say the past year has completely exhausted their employees, according to an Accenture study.
While this is not surprising given the increased levels of employee burnout cited around the world, there is a silver lining.
The report identified a small group of marketers – just 17% of the more than 1,000 marketers surveyed – whose marketing organizations are thriving despite all the change, uncertainty and complexity of the past 18 months. This group, which research identifies as successful, found that the vast majority (86 percent) of their employees were energized by a new focus of serving the rapidly changing motivations of customers.
Thrivers are decluttering marketing to deal with the complexities, with 59% noting that their marketing organizations are much stronger today than they were last year because they were pressured to think about marketing in a whole different way. The Thrivers have focused on changing their customers’ motivations and what is needed to serve them smarter and better. They focused on what matters, discarded what wasn’t, and rewired the rest. As a result, they find more meaning in their work, which is essential for serving the company and its customers and for retaining and attracting employees.
The report divides the remaining respondents into two other groups: workers, representing two-thirds (66%) of executives surveyed, who have some autonomy to meet customer needs but have limited knowledge of customer changes; and survivors, representing the remaining 17%, who are exhausted and out of step with the change of client.
“The marketers who have grasped the pandemic as a forceful function to redefine what they do, how they do it and the overall role of marketing in business are the ones who have been successful and are driving the growth of the business.” said Jeannine Falcone, Global Marketing. services lead at Accenture Interactive, in a statement. “Timeliness is essential for brands today, and you can’t do it if you’re using the same old game manual.”
The study found that successful people orient their marketing organizations around three important guiding principles: aligning with their business goals; help their clients; and improve the functioning of their marketing organizations. Research further shows how successful people are leading the way in the following five areas:
- Reconnect With Your Customer: By accepting that the customers they once knew have changed, the Thrivers have cast aside their old beliefs about customer preferences and know that assumptions can be dangerous. They listen to customers and rewire marketing around who the customers are at any given time and rank customer satisfaction as their main measure of success.
- Find your collective difference: Knowing that differentiation on customer experience requires unity and collaboration, successful people are 60% more likely than survivors to report that customer contribution is very critical to key business decisions on the market. client experience. They recognize that the synchronization of all functions, including product development, commerce, sales, service and marketing, is necessary to unleash differentiation.
- Keep pace with change: The overwhelming majority of pros (91%) believe customer behaviors are changing faster than ever. Therefore, they aim to deliver messages, content and experiences tailored to the real-time needs of customers. In addition, they are almost 50% more likely than survivors (95% vs. 65%) to have increased their investments to scale quickly.
- Figure out what no one wants to do: The marketing ecosystem has grown exponentially more complex due to an explosion of touchpoints, technologies, regulatory issues, and partners. The prosperous have outsmarted complexity by focusing on process automation and industrialization operations, and they are significantly more likely than survivors to invest more in improving ways of working with ecosystem partners (91 % vs. 56%). They are just as concerned with getting rid of tasks as they are with getting them done, giving their marketing organizations the edge they need to be successful.
- Own what you want to stand for: Thrivers own the purpose of their brand, connecting empathetically and authentically with customers and delivering what customers value. They are five times more likely than survivors to view shifts in customer values ââfueled by the pandemic as an opportunity to rethink the role of marketing and reinvent their brand goals.
Research has also found that successful people are more than 1.4 times more likely to perform much better than survivors in terms of income growth and profitability; over 1.8 times more likely to achieve much better customer satisfaction results; more than 2 times more likely to achieve much better results in terms of customer lifetime value; and over 2.5 times more likely to achieve much better customer outreach results.