LatentView Analytics, a trusted analytics partner to the world’s most recognized brands, today announced the findings of its study in collaboration with Forrester Consulting. The study explores how large U.S. B2C and B2B brands across various industries are embracing full-funnel marketing in reaction to an evolving consumer landscape. The study, titled “Building An Insights-Driven Marketing Engine To Drive Business Growth,” aims to educate marketers on how they can optimize their data analytics to create impactful full-funnel marketing strategies.
A full-funnel marketing strategy involves a comprehensive approach that caters to the evolving needs of a target audience throughout the customer lifecycle. LatentView and Forrester found that a full-funnel marketing strategy should be complemented by an understanding of operational gaps, organizational-wide marketing relevance, and long-term strategic analytical partnerships to maximize benefits.
“Marketers today are aware of the potential value of every customer touchpoint but lack the insight and tools to fully take advantage of delivering personalized experiences,” said Rajan Sethuraman, CEO of LatentView. “This study spotlights a crucial step in the marketing process: leaning on data analysis to understand the operational gaps in executing a successful full-funnel marketing strategy and moving key business initiatives forward.”
The study included responses from 451 senior marketing executives from major US-based B2C and B2B companies operating in the technology, retail, consumer packaged goods (CPG), or financial services sectors. Some key findings from the study include:
- Despite most marketers’ belief that they are executing a full-funnel sales and marketing approach (78%), they still struggle to optimize customer value, particularly in delivering contextual and personalized insights, with only 42% having found it extremely effective in achieving the organization’s priorities and objectives.
- At least half of the study participants noted that their quality of and access to insights have been negatively impacted by a fragmented enterprise view of customer data (53%), organizational silos (51%), a lack of the right technology (51%), and inadequate analytical skills (50%).
- Misalignment in business goals remains the greatest organizational challenge for 41% of surveyed marketers, especially for those in the technology (47%) and financial services (45%) industries.
- Only 37% of surveyed marketers believe they are integrating analytics across all touch points in the customer lifecycle to drive business outcomes and only 29% of surveyed marketers are using predictive analytics and AI to understand their customers.
The full study from LatentView and Forrester can be accessed here: https://latentviewanalytics.com/forrester-opportunity-snapshot/
