According to new research from global CRM leader, Salesforce, four out of five Australian and New Zealand marketers say their work is increasing in value despite macroeconomic and labour headwinds.
The eighth edition of Salesforce’s State of Marketing Report surveyed 325 marketing leaders from across ANZ, which found that despite their optimism, marketers face an uphill battle.
Almost a third (31 per cent) cite budgetary constraints as a challenge in the year ahead as companies tighten their belts in anticipation of rising inflation.
Eighty-seven per cent of marketers agree they must continually innovate to remain competitive. To help meet the moment, they are focusing on improving and modernising their use of tools and technologies, balancing personalisation with comfort levels, and complying with privacy regulations as third-party cookies phase out.
Paul Voges, senior vice president of Specialist Solutions at Salesforce ANZ said, “As businesses reexamine their budgets in the face of economic headwinds, marketers will play an increasingly strategic and valuable role in the success of their business by building and growing long-lasting and meaningful customer relationships.”
Additional key findings revealed that ANZ marketers are investing in channels and technologies to reach audiences in new places and build lasting relationships. Despite TV/OTT seeing the most significant increase in usage over the past 12 months, email marketing remains dominant, accounting for over 80% of all outbound marketing messages, according to the trillions of messages sent globally from Salesforce Marketing Cloud.
“While marketers are optimistic about the future, they must prioritise driving as much value as possible from existing tools and technologies, as well as focus on new investments in automation to boost productivity and efficiency,” Voges added.
Additionally, marketers are increasingly automating processes with 90% using AI to automate customer interactions and data integration. Additionally, two-thirds (67%) say that their marketing attribution model has shifted from manual to an automated process.
“Those that double-down on digital technologies and data capabilities will be better placed to build trust, infuse personalisation at scale and meet evolving customer expectations for hyperpersonalised experiences that recognise their customer’s unique needs and desires,” Voges said.
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Top image: Paul Voges