Sydney, Australia – About 91% of marketers in Australia and New Zealand are prioritizing the use of marketing data to improve ROI and marketing efficiency, said a joint study by marketing intelligence platform Salesforce Datorama and marketing research agency The Leading Edge.
The study examined 285 marketers across ANZ on how they integrate marketing data to measure impact and business growth, and almost all of the respondents – 93% – have shifted their priorities to focus on marketing-led growth.
“Marketers are seeing their role evolve as they are responsible for propelling business-wide outcomes. As they become increasingly accountable for operationalizing growth mandates across the entire organization, they need to embrace a data-driven culture and modernize their approach to marketing measurement,” said Jay Wilder, senior director of product marketing at Salesforce Datorama.
The study also showed the biggest barriers that marketers face in driving growth around data, where data mismanagement, lack of a unified view of performance, and lack of real-time insights came out as the top three.
Although 86% of ANZ marketers see the importance of a complete view of cross-channel marketing, they face a number of roadblocks when it comes to integrating their data for that holistic view. According to the study, 69% of marketers still integrate data manually to an extent with the same percentage of marketers revealing that they spend a week or more on harmonizing data from disparate channels.
Aside from such challenges, the study revealed that there is room for improvement when it comes to data analysis and optimization, as 73% of marketers do not have access to real-time insights.
Furthermore, nearly half, or 47% of marketers, experience misalignment across teams on measurement, with reporting sharing and collaborating on data analysis remaining a challenge for 36%.
Marketers are making progress as they move forward in their data journey and shift priorities to focus on business growth. The study showed that there 61% of marketers receive growing support from senior leaders for a stronger uptake of data-driven marketing. Meanwhile, 62% are in firms that have been making investments in marketing analytics technology, while the same percentage have been achieving alignment on the KPIs that matter the most.
“A successful growth marketing strategy requires the strategic alignment of people, processes, and technologies. Bringing together an understanding of key growth priorities and challenges, leadership support, investment, and an aligned measurement strategy will drive ANZ,” said Wilder.
For the month of August, marketing leaders had it big, with the top stories that took most of your attention are those that have spotlighted marketing experts.
One was a retelling of a Filipino corporate communications head’s success story, another was an Asian eCommerce platform’s appointment of a new chief commercial officer, and also, a point-by-point marketing measurement plan authored, none other than by a tenured player in the field.
The latest on virtual and augmented reality also made heads turn this month. The strike of the pandemic made for hardened and limited times, but with tech, it was an opportunity to ride on the connective powers of VR and AR, unleashing the best of the digital experience to carry on a new normal.
Here, we’ve made a run down of all of them. Based on Google Analytics from July 20th to August 16th, these were the top 5 stories for the month:
Top 5: The PR expert of the holy grail chicken brand in the Philippines: Mark De Joya
In the premiere of our interview webisode, #MARKETECHMondays, we featured Filipino marketing expert Mark de Joya who shared the journey he trailed before finally becoming the head of corporate communications of Max’s Group, the company behind the country’s most sought after restaurants.
Although, like any other head start, his first foray into marketing can be said to be “humble,” it is still a stint with that of consumer product behemoth Unilever, its Philippine leg. Since then, what he had was a meaningful immersion to the industry of advertising having worked thereafter with international creative agency McCann Worldgroup.
Truly a self-made man, Mark was revealed to be overflowing with personal formulas and borrowed wisdom from his mentors. One of them, he got from then McCann chief strategy officer Gino Borromeo, which spotlights a different side of creativity, that is, creativity isn’t just being artsy, but the ability to solve problems.
His advice to young marketers, “A lot of people might not feel that they are built for the marketing [or] advertising industry because they don’t think that they are creative enough. I will say, creativity is important, but the one thing that enables that is curiosity. The best marketers I’ve met are also the most curious.”
Top 4: Digging into the ropes of marketing measurement with Salesforce Datorama CMO Leah Pope
From whom is it better to acquire insight into the importance of marketing data than from a marketing maven straight out of the field of extracting marketing insights?
Chief marketing officer of data insights platform Datorama, Leah Pope in July lent her thought leadership piece on this important feature of marketing management, and not just marketing measurement on any normal day, but crafting a strategy at this time of uncertainty.
She imparts four steps: Harmonizing the often siloed marketing data into a single source; setting up a set of standardized data for data hygiene; rechecking goals and benchmarks to track marketing progress amid a new normal; and finally, aligning a single system of record of marketing data to collaborate the now branched out remote setup of marketing teams.
Top 3: Malaysia’s Entropia and manufacturing firm UMW’s virtual museum
To imagine within our thinkable minds a museum of virtual experience will always, for the meantime, send us all in awe. And that is exactly what judges from the fourth International VR Awards have felt with Malaysian tech innovator Entropia’s virtual museum of company UMW, granting them a nomination for the award-giving body’s social impact award.
The immersive experience offers six degrees of freedom to move through manufacturing firm UMW’s artifacts, enabling teleport from one scenario to the next. Users are able to view the very first products UMW had assembled: the Toyota Corolla KE 10 in 1968, the first Komatsu bulldozer, as well as an education on the Rolls Royce engine casing manufacturing and assembly that was accomplished right in Malaysia.
The museum isn’t just nominated for any category, but a social impact category, one described to shine on companies and individuals that produce products that have made a significant social impact on the world around them.
UMW said, “We used VR as a platform [for the company] to impress [and] attract talents both young and old, and above all, [as] a testament on how a corporate legacy can be kept alive using technology.”
Of course, winners of the award will be announced virtually, slated to take place in November.
Top 2: Another Entropia news, but now, an augmented reality car showroom
In latter July, BMW Malaysia unveiled its all-new BMW X5 xDrive45e M Sports model, but that wasn’t the only exciting part. For the first time, the marque in Malaysia ran a model launch via an augmented reality (AR) experience, courtesy of the ingenuity of Entropia’s experience design unit, Entropia Extended Reality (EXR).
Countries’ lockdowns amid the pandemic made it nearly impossible for consumers to visit showrooms, let alone attend a car launch, and this is where EXR comes to the rescue.
EXR Head Ramakrishnan CN said the usage of extended reality (XR) for marketing and advertising is no longer a niche, and that the COVID-19 has definitely accelerated the pace of demand.
Entropia explains how the AR works: “By just clicking the link [on BMW’s app], the users will be able to get a virtually realistic 3D model of the car, and by just tapping the screen, they can reposition the car, [view it] at different angles, pinch and resize it, and slide in any direction for a 360° view.”
Talk about a fusion of innovation.
Top 1: The month of August puts Keepital’s appointment of CCO to top story
For the top story of the month, people news is at the heart of it. By July, congratulations have been in order as Asia-focused B2B eCommerce platform Keepital announced that they have appointed a new chief commercial officer, sales veteran Arthur Ng.
Arthur’s seasoned experience in B2B digital advertising sector matches the core offering of Keepital: bringing together buyers and suppliers in a central location; boasting a directory of B2B sales executives to put through businesses on a forum where they can network with each other.
Arthur has been a staple player in the function of business development since 2008, having worked with companies such as publisher The Green Book, supply chain Singapore Post, online media Purple Click, and the similar-natured Innity.
His responsibilities were as specific as it gets: ownership of the customer and the customer interface with the product or service offering, where he’s charged with making sure that all functions of the organization are aligned to meet strategic commercial objectives
MARKETECH APAC caught up with Arthur and he shared, “My past weeks with Keepital were pretty amazing and fulfilling. [I’ve been] going in-depth to understand the platform’s enclosed system, speaking to SME bosses to understand their marketing pain points and requirements.”
Watch the MARKETECH APAC REPORTS of these top five stories, with exclusive appearance and commentary from the newsmakers themselves.
If you have interesting stories, thought-leadership pieces, and case studies in the area of marketing, technology, media platforms and SME, please send us an email at [email protected]. Who knows your story could be part of our top 5 next month.
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