Marketers, consumers: What's critical in your vertical?

As today's marketer is developing strategy and direction to move business outcomes further, faster, there is a critical need to understand the unique forces and factors that are moulding customer engagement and driving advocacy and loyalty.

The initiative will address the top issues, challenges and strategic priorities influencing marketing decision making, areas of spend, organizational renovation, and performance measurement specific to marketers within the Insurance, Commercial Banking, Utilities and Communication Service Provider industries. A consumer focus will also be included, revealing issues, complaints, opportunities and expectations from a customer-centred point of view.

"Marketers are facing some of the most challenging times for our role and for the office of the CMO as recovery, retention and reactivation all rise to the top of the often unapologetic agenda," said CMO Council Advisory Board member and Vice President of Global Solutions Marketing with InfoPrint Solutions Company, Sandra Zoratti. "Yet we still see some key trends that threaten to derail our efforts to deliver relevance to our audience. In fact, only a fraction of marketers are leveraging data-driven engagements to minimize churn and maximize lifetime value and retention. We need to better understand some of the key challenges and requirements, from customers and marketers, to develop clear strategies to engage in a targeted and timely way with customers."

The latest Precision Promotion program will explore more deeply the forces, factors, shifts and trends impacting marketers by industry, particularly as it relates to:

• Message impact and digital channel transformation
• Customer communication demand shifts
• Acquisition and retention costs and complexities
• Customer experience and lifecycle management
• Market insight and customer intelligence
• Channel changes and opportunity management
• New competitive threats and contenders
• Multi-channel message and content integration.

The research will also tap into consumer mindsets in an attempt to better understand the specific market expectations in the words and views of the customers currently buying services and products within the designated vertical markets. This drive to understand market needs and requirements will also highlight specific challenges being faced within each market ranging from:

• Economic and financial conditions
• Regulatory changes and controls
• Market consolidation and globalization
• Disruptive innovation and invention
• Sustainability and enviro considerations

• Greater accountability and compliance demands.

The end result of the four-part research will be to aggregate best practices across key verticals, but also learn from the challenges faced in industries that are impacted by consumer trends and behaviours, government regulation and oversight and global financial shifts that have changed engagement and business practice. To learn more about the program, visit www.precisionpromotion.org.