New digital channels have precipitated dramatic changes in consumer behaviors and expectations. Businesses must respond by digitally transforming their marketing functions to better anticipate consumer needs.
According to the Adobe Digital Trends report, marketing has changed more in the past two years than in the past 50. Digital has reshaped brand interactions across the purchase cycle. Consumers are increasingly willing to share information, expecting personalized experiences in return, and online competitors are on the verge of taking over customer relationships.
As digital budgets skyrocket, marketers struggle to accurately tie spending back to profits. Those who do are frequently underwhelmed by their digital ROI. Several challenges get in the way: agencies and publishers, compensated primarily on volume, do not have a direct incentive to eliminate wasteful spend; budgets tend to shift away from “top of funnel” tactics that have high ROI but are hard to measure; and becoming data-centric often requires an overhaul of legacy processes as well as adoption of a new technology ecosystem.
BCG’s personalization and digital marketing offering plays a unique role in transforming the capabilities of advertisers across industries and around the world. We see that a scientific approach, with thoughtful testing and close coordination between advertiser and agency, is essential to elevating performance. We bring experience that spans the breadth of strategy, marketing operations, marketing tech stock, and digital optimization in order to tackle our clients’ challenges with pragmatic and implementable solutions. Our unmatched personalization program creates a self reinforcing cycle of truly 1:1 customer experiences and deepening brand engagement, delivering value for both customers and the business. We do it by reshaping the way companies operate, to enable unprecedented cross-organizational collaboration.
Advertisers that raise their digital game report cost savings of up to 30% and revenue increases of as much as 20%.
“Camera marketing” using augmented reality is a fast-rising wave. Marketers need to move quickly.
Consumers expect an exceptional multichannel experience in exchange for their personal information. Decluttering the technology stack can help marketing organizations deliver.
Cleaning, matching, and structuring big data can feel like an insurmountable task. Meet BCG’s answer: MSP Catalyst. This tool gives companies a broad-based capability to analyze and control their marketing spending at every level of the organization.