Navigating Blind Spots: The State of Digital Marketing
The rate of digital adoption (users and usage) by consumers grew exponentially in 2020 forcing marketers to react with more speed and precision than ever before. This was challenging given they aren’t satisfied with the quality and speed of their customer insights.
Customer insights limitations exposed several blind spots where marketers weren’t able to spot changes in business quickly. These are a result of poor data (inadequate, fragmented, delayed), business as usual analytics and limited analyst support.
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As consumers continue to reshape their expectations,
enterprises must contend with a uniquely challenging landscape.
The consumer technology landscape is forever changing.
From Pinterest to TikTok, WeChat to Instagram, new experiences can rapidly gain consumer adoption and relevance.
From augmented reality to voice, smartwatches to chatbots, consumers are constantly embracing new interaction paradigms.
Commoditized convenience is eroding loyalty and margin.
Consumers expect convenience. If you can't deliver it, they'll go elsewhere - e.g. next day shipping becoming the new standard.
Walmart will reportedly lose USD 1 billion on eCommerce revenue of USD 21 billion this year as it faces challenges in its bid to complete against Amazon – from trouble integrating its DNVB acquisitions to impact on margin from its next-day delivery operations.
Consumers value experiences that are curated to fit their lives better.
They want to engage, be served, and transact at their time, their pace, their place. They have little patience, infinite choice and the freedom to swipe left at the slightest hint of friction.