Marketing growth and efficiency are two of the top priorities for marketers in the Asia Pacific, however, this focus on growth does not come easy.
Significant impediments remain, according to the Salesforce Datorama Marketing Intelligence Report Asia Pacific published late last year.
According to the report, increased scrutiny on budgets means that the pressure is on marketers more than ever to link every marketing dollar back to return on investment (ROI).
“This means optimising each marketing activity and message to drive impact across every digital touchpoint for the customer and the business,” the report says.
According to the study – part of a global program, 91 per cent of APAC marketers agree that marketing has a major role to play in driving growth for their business.
“The mandate for growth is also reflected in marketers’ priorities. Approximately 94 per cent of respondents indicate that they shifted their priorities to focus on marketing-led growth within the last year. Another 93 per cent say they shifted their priorities towards marketing efficiency and improving ROI.”
However, acknowledging the priority and delivering the result are two different things. The study also finds that almost half (45 per cent) of marketers characterise their performance as poor or fair.
There is a range of factors they believe are holding them back such as the misalignment across teams on measurement and reporting, and inefficient use of budget.
A lack of a unified view of performance and lack of real-time insights also gesture prominently.
The report’s authors say there is an overwhelming sense that marketers are embracing a growth marketing mindset but that growth marketing is defined differently by every organisation. The reason for this, they say, is that it’s a complex discipline with a lot of variety in terms of how well marketers understand and adopt growth marketing leading to variations also between countries.
Timing is one area where marketers differ in their growth marketing strategies, according to the report. “Some [marketers] are focused on the short term, which is all about immediate increases in sales and metrics like customer acquisition.”
Others however are focused more on the long term, with a regard to brand equity, loyalty, and values.
“More than half of APAC marketers are focused on the long term and 35 per cent are focused on a mix of the two.”
Finally, the report notes that marketers use a range of metrics to gauge their success. The top three growth-defining metrics include sales and revenue, customer satisfaction or net promoter score (NPS), and brand loyalty.
Barriers to growth marketing
When asked about success in achieving marketing goals, 45 per cent of marketers characterise their performance as poor or fair. So what holds marketers back from optimal growth?
Top barriers relate to data and performance and include misalignment across teams on measurement and reporting (44 per cent); inefficient use of budget (42 per cent); a lack of a unified view of performance (41 per cent); and lack of real-time insights (40 per cent).
For more information, download Datorama Asia Pacific Marketing Intelligence Report