A survey of 409 consumers and 257 marketing executives conducted by the Economist Intelligence Unit (EIU) and sponsored by Lyris reveals gaps in marketers’ perception of how consumers want to engage with brands and what influences their purchasing decisions.
Consumers say they appreciate e-mail offers that are customised to their particular needs based on previous purchases. Yet the transition to more sophisticated customisation has been relatively slow and the majority of marketers surveyed by the EIU continue to stress simple personalisation. The majority of consumers (63%) claim that personalisation is now so common that they have grown numb to it, with 33% of consumers citing superficial personalisation as one of their top annoyances.
Marketers’ inability to interpret ‘Big Data’ is a principal stumbling block to more and better customisation--cited by 45% of executives as the biggest obstacle to more effective digital marketing strategies.These were a few key findings from the EIU report, Mind the marketing gap: Sizing up marketer and consumer perceptions, sponsored by Lyris.
Other key findings include:
- Understanding and capturing customer data is a challenge. Data analysis to extract predictive findings from “Big Data” is now seen as the most necessary skill for marketers (37% of respondents)—a significant increase from the 17% who said this was true five years ago.
- Consumers say they most prefer e-mail for initial product research and post-sale follow-up. For an initial introduction to a product, consumers prefer e-mail (37% of respondents) followed by printed catalogues (35%) and personal referrals (33%). E-mail is also a preferred channel for post-purchase follow-up. And yet marketing budgets are still skewed in favour of company websites over e-mail.
- Marketing executives underestimate consumer concerns about privacy. Some 21% of consumers say they are “very concerned” about the privacy of information contained in e-mail communications with vendors; 39% say they are concerned about information tracked by cookies when visiting company websites. In contrast, only 23% of executives say their organisation’s customers are very concerned about the privacy of their information in the company’s marketing databases.
Mind the marketing gap: Sizing up marketer and consumer perceptions
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Notes for editors
About the Economist Intelligence Unit
The Economist Intelligence Unit (EIU) is the world's leading resource for economic and business research, forecasting and analysis. It provides accurate and impartial intelligence for companies, government agencies, financial institutions and academic organisations around the globe, inspiring business leaders to act with confidence since 1946. EIU products include its flagship Country Reports service, providing political and economic analysis for 195 countries, and a portfolio of subscription-based data and forecasting services. The company also undertakes bespoke research and analysis projects on individual markets and business sectors. More information is available at www.eiu.com or follow us on www.twitter.com/theeiu
The EIU is headquartered in London, UK, with offices in more than 40 cities and a network of some 650 country experts and analysts worldwide. It operates independently as the business-to-business arm of The Economist Group, the leading source of analysis on international business and world affairs.
Lyris a leading global provider of digital marketing solutions that help companies engage with customers in more meaningful ways. Lyris products and services empower marketers to design, automate, and optimize data-driven interactive marketing campaigns that facilitate superior engagement, increase conversions and deliver measurable business value. Lyris' high-performance, secure and flexible digital marketing platforms improves marketing efficiency by providing automated digital message delivery, robust segmentation, and real-time social, mobile, and interaction analytics. The Lyris solutions portfolio is comprised of both in-the-cloud and on-premise solutions - Lyris ONE, Lyris HQ, Lyris LM - combined with customer-focussed services and support. More than 5,000 companies worldwide partner with Lyris to manage and execute sophisticated digital marketing campaigns across email, social, Web and mobile channels. More information is available at www.lyris.com (http://www.lyris.com/us-en)