Marketing executives agree that digital tools and technologies are valuable—but most of their companies are pursuing just a few opportunities online, and struggle to analyze online
metrics and capture better data.
Digital media and online tools remain a largely untapped resource for companies, according to a recent survey of marketing executives.1 Most respondents agree that their online presence is important and that digital tools provide their companies with a major opportunity, but few are taking the structural steps required to benefit from selling online or engaging consumers through new technologies such as social media. Indeed, most respondents indicate that companies are still trying to figure out how digital media can meaningfully improve their bottom lines. The survey asked marketing executives from around the world about the digital tools and channels their companies use and expect to use, the challenges they face and actions they have taken in response, and the metrics available to assess performance online.
Exhibit 1
Interacting with current customers
The state of play online
Marketing executives overwhelmingly agree that an effective online presence is very or extremely important for staying competitive—81 percent of them say so. And more than half of respondents say that over the past two years, the increasing prevalence of digital media and tools has changed their companies’ ability to interact with and serve new customer (Exhibit 1). Notably, about half as many cite either the ability to reach new customer segments or the emergence of new business models as one of the greatest effects of digital media’s pervasiveness. Overall, these tools seem to be creating little competitive differentiation. Just over half of respondents, for example, say their companies and competitors earn about the same share of revenue from online sales, with almost equal numbers of other respondents estimating shares above and below [..>]
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