Australian marketers are getting bogged down by misalignment on reporting, budget constraints and varied views of performance as pressure mounts to move from brand custodians to drivers of growth and ROI, according to research from Salesforce.
The results also show the much hyped data driven approach to marketing still relies heavily on manual integration. Nearly two thirds of APAC marketers say they spend a week or more each month solely on data integration.
In partnership with research agency, The Leading Edge, Salesforce’s analytics arm Datorama today released the results of a survey of over 1,000 APAC marketers. The responses suggest marketing leaders are increasingly expected to drive an organisation’s growth.
While nearly all marketers (91 per cent) say their departments now play a major role in driving growth and ROI, what the growth focus means varies, according to the survey.
More than half say it’s about long term outcomes like brand equity, loyalty and values. Only 11 percent say growth is about short term goals like sales and customer acquisition. 35 per cent said it was a mix of the two.
When push comes to shove, though, revenue is king, according to marketers, who ranked it as the most important metric for defining growth.
Many are struggling to achieve the growth goals, according to the report, with 45 per cent characterising their performance as poor or fair.
The biggest barrier to marketers’ new growth mandate is a misalignment across teams on measurement and reporting, suggesting a hodge podge of marketing data sources, tools, metrics and reports.
The $121 billion martech sector is known to be fragmented and difficult to integrate with more than 8,000 solutions. The amount of solutions has grown 5,233 per cent in the last decade, according to analysis by ChiefMarTech.com.
According to the Salesforce survey, 64 of APAC marketers spend a week or more each month solely on harmonising data. 33 per cent are “challenged by their ability to connect and unify data from multiple sources”.
The report states, “Overwhelmingly, marketers in APAC agree that a complete view of cross-channel marketing is important, but with growing volumes of data generated from a growing number of platforms, this is increasingly difficult to achieve.
“The scale of this issue is apparent when looking at all of the different channels being managed by marketers today. On average, APAC marketers use 7.4 marketing channels.”