Top 10 Marketing Trends to Dominate 2014 [INFOGRAPHIC]
At the onset of a new year, there are marketing trends thought to dominate the coming year. You can bet that data will be in the mix of many of these emerging trends in 2014. Nearly 50 percent of marketers agree that data is the most underutilized asset in their organization.
It’s time for data to grow up. Marketers are trying harder to gather data, and 80 percent of customer data will go unused. There are clear immature enterprise data ‘value chains.’
This lack of maturity is costly in terms of building brand awareness, increasing sales and creating customer loyalty. The silos must be torn down—immature data won’t stop marketing from becoming more data-driven. Nearly 65 percent of marketers agree that silos within their marketing department prevent from having a holistic view of their marketing campaigns.
It’s not easy moving toward use of platforms that have integration capabilities. There must be close collaboration with I.T.
Companies need prime analytics talent. To be able to compete, the following are crucial: data discovery, hypothesis development and testing of different approaches. Big data will form the DNA of understanding customers and consumer choices.
Analytics superstars will be able to understand how customers make emotionally based and deeply rooted purchasing decisions. Data scientists will uncover the influences inside the brain. Data sources are increasing. As consumer data access increases, so does the potential to switch brands. Only 18 percent of marketers say they have a single, integrated view of customer actions.
It’s important to recognize that big data is a river, not a lake. Big data will be refined as non-stored data and will migrate to massive streams of data that are noted but never stored.
Over 71 percent of marketers say they plan to implement a Big Data Analytics solution within the next two years. Customer experience management is the new CRM in 2014. Marketing will take over most of customer relationship management. Traditional CRM systems haven’t been architected to manage the sources and amounts of data necessary for the new role of marketing.
When it comes down to it, the goal of every marketer needs to be a unified customer experience that doesn’t require difficult integration and customization.
To understand more details about all the emerging marketing trends set to dominate 2014, check out the full infographic below!