Growth

Rich and Co.

Marketers Laser Focused on Customer Retention/Acquisition and Immediate-Term

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“Marketers are less focused on brand building and more focused on customer retention and acquisition.”

  • 78% of executives said that, compared to one year ago, more scrutiny is placed on their marketing efforts
  • 48% report that short-term results are being prioritized at the expense of long-term goals

“It’s easy to measure disparate behaviors… but difficult to aggregate… a single view across multiple digital channels… difficult to provide actionable insights back to the business.”

Interest in social media is low — 11%  this year 19% next (maybe)

Acording to a report from Forbes Insights "Bringing 20/20 Foresight to Marketing," 

  • 52% of a group of marketing and corporate managers cited customer retention as their top current priority,
  • Followed by customer acquisition (38%)
  • Customer profitability (29%), and these remain top priorities for 2012, as well
  • 39% of executives dedicating the largest chunk of their funds to customer retention
  • Customer acquisition runs a close second (36%)
  • 56% of respondents said that they will increase their online marketing spend,
  • 54% will increase their social media spend
  • 50% will increase their mobile marketing spend

With online marketing being driven by transactions, lead generation, and conversion, marketers are less focused on brand building and more focused on customer retention and acquisition, observes the report.

Asked about both their current priorities, as well as what they believe their priorities will be a year from now, respondents clearly had the customer in mind. 52% cited customer retention as their top current priority, followed by customer acquisition, and customer profitability.

Marketers appear to be increasing their investments only after they’ve been caught off-guard by changes in the marketplace, according to the study. Asked about what key developments over the past year surprised them most, many noted the most important changes such as:

  • Twitter’s strength as a marketing tool,
  • Greater use of smartphones and tablets
  • Rise of flash-sale sites such as Groupon

Full article

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Written by Rich and Co.

June 22, 2011 at 11:18 pm

One Response

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  1. […] Marketers Laser Focused on Customer Retention/Acquisition and Immediate-Term (richandco.wordpress.com) […]


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