The marketing industry is changing. As always.
It's easy to get caught up in automated business processes and fall into habits that don't change despite shifts in the industry you work in. From time to time, it may be useful to step away from routine to take a look at what your competitors are doing. This is most especially the case in the marketing industry, which is subject to daily and impactful vicissitudes.
In spite of consumers' immersion in digital mediums, only 25% of marketing budgets are spent online. In terms of trajectory:
- 61% of marketers plan to increase their data and analytics expenditure in 2014
- 57% plan to spend more money on social media marketing
- 58% will allocate more funds towards email marketing
Marketing industry challenges
In reference to marketing industry challenges, the following percentages of marketers stated the following issues:
- 35% cited response attribution as the most challenging multichannel marketing issue
- 65% said subscriber engagement was their foremost lifecycle marketing challenge
- 25% of B2C marketers said list measuring and identifying ROI was their top challenge
- 21% of B2B marketing professionals said generating leads was their top challenge
Sources: Digital Marketing: Keep Up or get Left Behind, February 24 2014. CICERON.