To say the past two years have been tumultuous for marketers would be a huge understatement.
Agility, adaptability and permanent innovation are now essential issues for marketing organizations of all sizes, in all sectors.
According to the new Marketing Trends 2022 report from Oracle and Ascend2.
Oracle’s survey of more than 850 marketing professionals in leadership and management positions reveals that 94% believe their marketing efforts in 2021 were successful — and 48%, extremely.
What challenges lie ahead and how do marketers plan to tackle them this year?
Read on to explore the top marketing challenges and solutions marketers think of, as well as the AI solutions they trust, how they plan to replace third-party data, and other key trends to inform your own marketing strategy. .
Top Challenges for Marketers in 2022
Oracle’s survey revealed the top marketing challenges for respondents right now:
- Performance optimization across all channels – 38%
- Ability to change/adapt to circumstances as they arise – 36%
- Deliver exceptional customer experiences – 35%
- Align marketing and sales efforts – 32%
- Audience segmentation and targeting – 32%
- Ability to adapt programs, content, personalization – 31%
- Prove marketing attribution and ROI – 31%
Which performance metrics matter most in 2022?
Data-driven insights are key to solving the above challenges. But what performance metrics are marketing organizations currently using to measure success?
High performing marketing organizations claim that their key performance metrics are:
- Sales and revenue attributed to marketing.
- Customer lifetime value.
- Cost per lead (CPL) and cost per acquisition (CPA).
All other marketing organizations are more likely to track “marketing ROI” and customer acquisition and retention.
Marketing solutions we can’t live without
When it comes to the most important martech solutions powering modern organizations, customer data platforms top the list.
Email marketing platforms, content management systems, marketing automation platforms, and testing and optimization tools round out the top five.
How marketers plan to replace lost third-party cookie data
When asked which first-party data sources would become most valuable as a result of third-party cookie losses, the top five marketers selected were:
- 36%: Customer purchase history
- 32%: social media profiles
- 31%: Website Listings
- 26%: Survey respondents
- 26%: Use of mobile applications
CRM and call center interactions, loyalty programs, user community members, newsletter subscribers and SMS messaging were also on the list.
AI will bring agility and ROI – at least, to those who trust it
Adapting to circumstances as they arise and being able to change course on the fly has been identified as a major challenge, and this is where the AI shines.
Even so, marketing organizations have varying levels of trust in technology.
Smaller marketing teams are less confident in AI, and those on teams of 30 or fewer said they only trust it for scoring leads and writing subject lines.
Across the survey, marketers are most comfortable using AI for ad targeting, real-time content personalization, email send optimization, and estimation conversions.
When asked, which of the following activities would you trust (or already use) artificial intelligence? Traders responded:
Other key marketing insights for 2022
Among their most interesting findings, Oracle revealed that:
- 37% of marketers are confident, 31% are hopeful, and 24% feel excited about their chances of marketing success this year.
- 82% of marketers plan to make changes to their technology stack this year, either by adding, removing or replacing components.
- 24% of marketers said they absolutely couldn’t live without their loyalty marketing solution.
- 40% of marketers want to add customer service information and 36% loyalty information to their marketing program.
- 88% of marketers are confident they will have access to the right data for effective decision making this year.
Download full Marketing Trends 2022 Oracle report to learn more.
Featured Image: Shutterstock/BAIVECTOR