Oracle Study Shows Retail Organizations Leading Shift to Modern Marketing Best Practices
Retail organizations enhancing customer experience and overall business performance through advanced targeting and cross-channel marketing capabilities
National Retail Federation Big Show 2015, New York – January 13, 2015
To create a meaningful dialogue with customers, marketers need to leverage modern marketing best practices for executing personalized, targeted marketing campaigns across multiple channels. But modern marketing adoption rates vary from industry to industry, with some industries embracing marketing technologies and associated best practices faster than others. To assess marketing maturity across industries and demonstrate the business impact of modern marketing best practices, Oracle commissioned Forrester Consulting to conduct a global study of marketing decision-makers. The study found that retail marketers are leading the shift to modern marketing and are ahead of other industries in a number of key areas that ultimately impact the customer experience and overall business performance.
To assess marketing maturity across industries and demonstrate the business impact of modern marketing best practices, Oracle
commissioned Forrester Consulting
to conduct a global study of marketing decision-makers.
The study, “Why You Need To Be A Modern Marketer: The Business Impact of Marketing Maturity in the Age of the Customer,”
which was initially released in October 2014, examined the adoption of modern marketing best practices across 20 industries including electronics, energy, financial services, healthcare, manufacturing, media, retail, and telecom.
The study found that marketers in retail organizations are leading the shift to modern marketing and are ahead of their peers from other industries in key areas including investments in data management and behavior tracking technology as well as marketing integration.
According to the study, 46 percent of retail organizations have intelligent targeting capabilities that provide real-time feedback and advanced insights to enhance customer engagements and increase marketing effectiveness. In contrast, only 31 percent of total respondents from other industries cited the same level of targeting ability.
When evaluating marketing integration, the study found that 42 percent of retail organizations currently leverage a fully integrated cross-channel marketing platform for enhanced marketing orchestration, while only 14 percent of respondents from other industries cited a similar level of integration.
The study surveyed 492 marketing decision-makers across a range of industries in the United States, United Kingdom, Germany, France, and Australia, and found that organizations that embrace modern marketing processes outperform their nonmodern marketing peers and competitors on key business performance indicators including revenue growth, market leadership, and workplace excellence.
The study defined “modern marketers” as marketers that use a combination of real-time predictive models and statistical techniques including intelligent targeting and cross-channel marketing attribution to ensure personalized customer engagement throughout each stage of the purchase journey.
“To successfully compete in today’s digitally powered economy, marketers need to continually refine and evolve their approach in order to better understand and engage their customers,” said Andrea Ward, vice president of marketing, Oracle Marketing Cloud. “The retail industry has a long tradition of being customer-centric, and is leading the shift toward more customer-focused modern marketing practices. By embracing new data technologies and taking an integrated marketing approach, retailers are able to create a digital dialogue with their customers and deliver the right messages at the right time.”
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