Marketers in Hyperdrive: Webinar with The Drum
Last Thursday, we hosted a webinar with The Drum alongside Callcredit Information Group to discuss the impact that rapid changes in the marketing industry were having on senior marketers, as well as the key challenges that marketing departments are facing and what can be done to overcome them.
Understanding the challenges
Marketers are dealing with both internal and external challenges, resulting in an environment of constant pressure. The findings of our research report, The Breathless Business, show that 65% of marketers are feeling more stressed than this time last year.
In the first part of the webinar, we introduced the main challenges that are making marketers breathless:
- Innovation & keeping up with the latest marketing tools
- Competitive pressures and how to stay on top
- Business uncertainty and budget-related issues
Marketers are facing change from all different directions. With so many new marketing tools around, figuring out what’s genuine innovation and what’s hype is steering marketers off track. But, as Angela Richmond, MD of Loudhouse commented, “obsessing about this and the competition is proving to be a distraction and won’t necessarily stop the competition disrupting you. Focusing on getting to know your customers better will be more constructive because it means you can be the one that is noticed”.
Responding to the challenge of innovation, Rick Lamb, Head of Digital Operations at Callcredit revealed that technology was actually the strongest area of discipline for 46% of marketers surveyed in its report, The Data Dilemma. However, many marketers are struggling to use data to drive performance. With an abundance of data available, marketers often feel overwhelmed and struggle to use it efficiently. Rick advised that “less is more” when it comes to data – focus on your critical customer data and the data that is going to help you define customer segments and the overall customer journey.
Take a deep breath
We also explored ways that marketers can work more efficiently in order to get their breath back. Billy Hamilton-Stent, Client Strategy Director at Octopus Group advised marketers to prepare a clear and concise marketing strategy because, he says, “ultimately, it’s the strategy that will bring the wider organisation on board, which will help marketing to be recognised as a strategically important function in the business”.