New Study Reveals Fundamental Shift in Marketing Challenges and Advanced Technology Solutions
AgilOne, the cloud-based predictive marketing intelligence company, today announced the results of a new study conducted by Forrester Research, Inc. The research shows a rapid shift in the marketing industry. What is fueling this shift? Customers' digital behavior is rapidly outpacing the marketers' ability to respond and guide the buying process.
This new dynamic arises from the continued explosion of multi-channel data and the fact that marketers are having a harder time than ever fully understanding the customer's digital path to purchase. At the same time new analytic technologies are enabling marketers to draw more meaningful and actionable conclusions.
The study, "The New Paradigm of Predictive Analytics," researched by Robert Brosnan, senior analyst at Forrester Research, Inc., surveyed North American marketing professionals in retail, media, and consumer service companies to gauge their outlook on the future of the digital marketing industry. The study highlights the top challenges marketers are facing, including:
- Optimizing the lifetime value of a customer. Seventy-five percent of respondents indicated that maximizing the lifetime relationship of a customer is the driver of their implementation of new analytics technologies.
- Getting a single view of the customer. Big data has become the norm for many marketers, but they're drowning in it. More than a third of survey respondents struggle to create a consistent view of the customer from channel-level data, often stored in separate applications.
- Empowered buyers demand a new level of customer obsession. With 82 percent of customers researching a product before purchasing, it's essential that marketers find a way to attribute and measure the scope of their actions.
"The age-old problems for marketers of revenue attribution and increasing life time value never go away. What is changing is the explosion of multi-channel data and an intense focus on customer relationships," said Omer Artun, CEO of AgilOne. "Finally, technology has caught up with the business issues. A new paradigm of using predictive analytics to increase customer intimacy is now possible. Our customers tell us that predictive analytics is now key to helping them create lasting and sustainable customer relationships."