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Over the last two years, the average tenure of an American chief marketing officer has dropped by six months, according to consulting firm Spencer Stuart. Today’s CMO lasts just 42 months — or three and a half years — on the job. The reason for this? CMOs are tasked with disruptive growth more than any other member of the C-suite.
Marketing is at the helm or in the hot seat, depending on your level of readiness. Marketing executives are three times more likely to lead strategic growth initiatives in 2016 than they were in 2012, according to Gartner. Corporate strategies increasingly focus on customer experience as the last and best bastion of differentiation, and mobile is the only screen that can del ...
Mobile engagement is the fastest moving target marketers have ever faced. Its pace of adoption is growing exponentially faster than any technology that’s come before. Just five years ago, mobile apps were a nascent and unproven market. Now, apps are ushering in a new paradigm of customer interaction, accounting for 86% of the time spent using mobile devices.
It was only a year ago that many businesses we work with saw the mobile majority arrive, which meant that they began seeing half or more of their digital traffic originate from mobile devices. Now, in holiday forecasts and surveys galore, mobile devices are projected to account for 53% of online shopping (IBM’s Quarterly Retail Forecast).
We’ve all heard the adages that 80% of your revenue comes from 20% of your customers or that it’s 5-10 times more expensive to acquire a new customer than to retain and sell to an existing one. One of my favorites is from Bain & Company, stating that increasing customer retention rates by 5% boosts profits by 25% to 95%.
With the holiday season quickly approaching, retailers are putting the finishing touches on digital properties, from mobile websites to native apps, striving to cash in on mobile’s growing influence. As mentioned in my previous column, digital interactions will influence 50% of in-store sales by the end of 2014 – up from 36% in 2013 – with smartphone adoption accounting for ...
Retailers are juggling a complex new landscape as their physical, online and mobile worlds converge. Customers are adopting mobile faster than anything that has come before; yet, some retailers lack urgency in meeting new consumer expectations of getting what they want in their immediate context and moment of need.
Location-based marketing has been described as "the intersection of people, places, and media." This evolving new capability centers around the idea of understanding your customers' context — such as their current location, their location history and their current or historical beacon proximity — to deliver more relevant, timely content as a result.