Over the past few years, we’ve faced numerous challenges, prompting us to adapt our strategies and practices to navigate a swiftly changing and demanding environment. Companies globally are turning to their CMOs and marketing teams, relying on them to meet customers’ digital-first expectations, accomplish more with limited resources amid economic challenges, and comply with evolving data privacy laws in preparation for a cookieless future. Here are Insights from Salesforce’s 8th State of Marketing Report
For marketers, it’s a new era, marked by significant transformation that necessitates a reimagining of how we engage with customers, personalizing every interaction. We must strive to achieve our budget and business objectives within an uncertain economic landscape and take a leadership role in upholding our values to contribute to a better, more equitable, and sustainable future.
Salesforce has gathered insights from marketing leaders worldwide to comprehend how they are prioritizing their efforts in this transformative period. What did we uncover in this year’s “State of Marketing” report? Marketers and businesses are putting values at the forefront while embracing optimism and innovation. They are emphasizing extracting maximum value from existing tools and technologies while directing new investments toward crucial areas like automation and productivity.
Satisfaction Levels
15% of all high performing companies are completely satisfied with their overall marketing performance and ROI. 18% of underperforming companies surveyed are moderately or less satisfied with their overall marketing performance.
In the midst of an evolving world, customers are placing increasing importance on the concept of trust, with 88% acknowledging its heightened significance during times of change. CMOs are keenly attuned to this trend, as evidenced by “building trust” ranking among their top three priorities this year. Marketers are actively seeking to maximize their investments, and technology plays a central role in this endeavor, with inadequate utilization of tools and technologies identified as the foremost challenge and priority.
ROI and Attribution
A substantial portion of marketers also grapple with the challenges of marketing ROI and attribution, hindering their ability to showcase cost efficiency amidst market turbulence. In response to shifting consumer preferences, changing buying behaviors, and escalating customer expectations, marketers maintain a forward-looking stance, ranking “experimenting with new marketing strategies” as their second-highest priority.
This pursuit of innovation is not only a grassroots effort but also emanates from leadership, as 91% of CMOs emphasize the imperative of continuous innovation to stay competitive. Amidst concerns about privacy and institutional distrust, the enduring task of building and preserving customer trust remains a perpetual priority and challenge.
Stay tuned to Tectonic’s insights for more Insights from Salesforce’s 8th State of Marketing Report.
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