What are the most popular challenges, opportunities, mar-tech solutions, and performance measures right now? See the results of Oracle’s poll.
It would be an understatement to say that the previous two years have been difficult for marketers. Agility, adaptability, and continuous innovation are now standard operating procedures for marketing firms of all sizes and in all industries.
According to Oracle and Ascend2’s latest Marketing Trends 2022 report, providing an amazing customer experience is a top priority and the most ubiquitous problem for marketers right now.
According to Oracle’s study of over 850 marketing directors and managers, 94% believe their 2021 marketing activities were effective – and 48% believe they were extremely successful.
What difficulties do marketers expect to face this year, and how do they plan to address them?
To help you plan your own marketing strategy, read this article to learn about the top difficulties and marketing solutions on marketers’ minds, as well as which AI solutions they trust, how they aim to replace third-party data, and other relevant trends.
Marketers’ Top Challenges in 2022:
According to Oracle’s poll, the following are the respondents’ top marketing challenges right now:
- Increasing performance across all channels – 38%
- Ability to change/adapt to changing situations – 36%
- Delivering outstanding client experiences – 35%
- Marketing and sales efforts should be aligned – 32%
- Audience segmentation and targeting – 32%
- Scalability of program, content, and personalization – 31%
- demonstrating marketing attribution and ROI – 31%
In 2022, which performance metrics will be most important?
To address the issues, data-backed insights are required. However, which performance metrics are now being used by marketing businesses to assess their success?
The top performance measures for successful marketing firms are –
- Sales and revenue related to marketing:
- The lifetime value of a customer.
- CPL and CPA stand for cost per lead and cost per acquisition, respectively (CPA).
Other marketing companies are more likely to track “marketing ROI” and customer acquisition and retention.
Most important marketing tools to have:
Customer data platforms are at the top of the list of the most significant martech solutions that power modern-day enterprises.
The top five include email marketing platforms, content management systems, marketing automation platforms, and testing and optimization tools.
How Marketers Plan To Replace the loss of Third-Party Cookie Data:
Marketers’ top five choices when asked which first-party data sources will become the most useful in the wake of third-party cookie losses were:
- Customer purchase history (36%),
- Social media profiles (31%),
- Website registrations (26%),
- Survey responders (26%), and
- Mobile app usage (26%).
Interactions with CRM and call centers, loyalty programs, user community members, newsletter subscribers, and SMS messaging were also included.
Will AI brings agility and scale with high ROI?
At the very least, those who trust AI will benefit from its agility and return on investment.
A top problem was identified as being adaptable to changing conditions and changing its course on the fly, and this is where AI excels.
Despite this, marketing companies have different levels of confidence in the technology.
Smaller marketing teams are even less confident in AI, with those on teams of 30 or less saying they solely use it for lead scoring and subject line creation.
Marketers are most comfortable using AI for ad targeting, real-time content personalization, optimizing email sends, and estimating conversions, according to the survey results.
As asked, which of the following activities would you trust artificial intelligence to perform for you (or currently do)? Marketers’ responses were as follows:
Other Marketing Insights for the Year 2022:
Oracle reported the following as one of their most noteworthy findings:
- 37% of marketers are optimistic, 31% are hopeful, and 24% are enthusiastic about their possibilities of marketing success this year
- This year, 82 % of marketers intend to update their tech stack by adding, eliminating, or changing components.
- 24% of marketers said they couldn’t imagine their loyalty marketing strategy without it.
- 40% of marketers want to incorporate customer service insights into their marketing strategy, and 36% want to incorporate loyalty insights into their strategy.
- This year, 88 % of marketers believe they will have access to the right data to make informed decisions
