Four in ten marketers report that they feel unprepared for a digital first future, according to a survey from Accenture.

According to Marketing Week, four in ten marketers report that they feel unprepared for that future, according to a survey from Accenture.

This is interesting as surely since the digital age is already upon us (isn’t it all mobile now already) B2B marketers need to ensure their organizations are ready for this fundamental shift in marketing.

“Marketing executives are growing increasingly concerned that tight budgets and the lack of a clear strategy for implementing digital technologies are hurting their company’s ability to compete in the digital age,” said Brian Whipple, global managing director of Accenture Interactive, in a statement. “There is a clear performance gap between the demands of the marketplace and the ability of marketing organizations to apply the digital technology talent required to be more effective.”

Accenture Interactive’s online survey,Β  “Turbulence for the CMO,” conducted last August and September, polled 405 senior marketing executives in 10 countries. Sixty-three percent of respondents were B2B and 72 percent were CMO-level and above.

The report found that inefficient business practices (19 percent) and lack of funding (17 percent) are the main reasons marketers don’t feel well prepared to meet their objectives. In addition, 70 percent of executives believe that corporate marketing will undergo a dramatic change within the next five years and that their organizations must create a digital plan that will help them achieve higher revenue and increase market share.

But my favourite one – as a digital marketing trainer who specialises in B2B – is that they fear not knowing enough about becoming a digital-first organization.

Many of them are now thinking about how to maximize ROI across multiple channels.

Nearly one in five CMOs score themselves as below average in multichannel attribution, correlating advertising to sales, and measuring media buying effectiveness.

“How can CMOs succeed with customers if they can’t measure the most effective strategies to use with customers who are changing their behaviors and interacting with brands differently?” the report asks.

However, marketing executives are not sitting idly by, twiddling their thumbs.

To prepare for the digital shift, two-thirds (66 percent) of marketing executives will spend at least one quarter of their budget on digital marketing next year, and almost one-quarter (23 percent) said that more than half will be spent on digital marketing.

Also, senior execs plan to invest more in their analytics capabilities. To help retain and grow their customer base, almost half (48 percent) said they will spend more on managing customer data. Forty percent said they will boost spending on web analytics and 39 percent will spend more on marketing analytics.

But will they spend more on actually training their staff on how to use tools like Google Analytics properly? The tool is amazing – and free – so really budget should go on analytical training rather than fancy new platforms πŸ˜‰

Finally, CMOs realize they need new talent and digital innovators to help them reach their goals. Half of the executives said they would begin an internal reorganization to become more digitally focused, and more than half said they would be hiring more people with the necessary digital skills (52 percent) or providing their existing staff with digital training (55 percent).

Which is great for a digital training company like Great Marketing Works, isn;t it πŸ™‚

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