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Business Intelligence Marketing Managers struggle to understand the new buying preferences of the customers

Marketing Managers struggle to understand the new buying preferences of the customers

by Valoria Business Solutions May 6, 2021

Website www.valoria.ro

According to the results of the survey on "Trends and challenges in marketing in 2021" conducted by the business consulting company Valoria in collaboration with the advertising agency Mind Shop, 77% of companies put in the first place understanding the new customer buying preferences, while 71% have the challenge of generating results with low marketing budgets.

"In 2020, more than half of the companies have reduced their marketing activity, either because of the temporary closure of the activity or the decrease in demand. However, the year 2021 changes the data of the problem and requires competence and efficiency from the marketing team. But the budgets are affected by the crisis, and getting results is the main goal now. Those companies who did not pay attention to online marketing have a lot to recover and can transition much easier when they turn to specialized support", says Angela Călina, Executive Director of the advertising agency Mind Shop, co-author of the study.

The main challenges in marketing

In 2021, marketing will not be the same as in previous years. Companies will need to focus on their digital marketing strategy. It will be essential for them to create an online experience that captures the attention of every potential buyer and achieves good conversion rates.

In this context, no less than 68% of the responding companies say that they have problems thinking about mobile-first strategies, 68% struggle to obtain engagement on content, 56% fail to create content adapted for the sales funnel, and 49% have problems with increasing brand authority.

The areas that, once optimized, produce the best results

Most companies need to adapt their products and services to respond to new buying behaviors. Currently, in the online environment, on average, approx. 60% -70% of the purchasing process, both in B2C and B2B. Therefore, managers focus on the ability of marketers to truly identify new sales channels, new markets and develop marketing plans accordingly.

According to the results of the study, 59% of companies put in the foreground the ability of the marketing team to identify new sales channels, new markets and to develop plans. This is followed by the ability to increase business and/or business profitability with current customers through cross-selling, up-selling, or effective campaigns (48%) on a par with the ability to permanently generate leads as well as to plan and forecast accordingly the degree/time interval in which a lead ends up generating turnover (48%).

The main types of marketing preferred by companies

Social networks are at the center of attention of B2C and B2B consumers, with an intense development of advertising tools, targeting, presentation of offers, etc. In this context, the quantitative, but especially qualitative difference is the original content created by companies to attract and retain consumers. On the other hand, events (especially hybrid or online), supported by specific participant management tools, are increasingly proving their value.

In the first place, 63% of the responding companies put social media marketing, followed in the second place by 59% who focus on content marketing and 52% who focus on marketing through online events (conferences, workshops, webinars), at equal to the 52% who rely on email marketing.

 

The roles of the marketing manager

Of the responding companies, 48% say that the main role of the marketing manager is that of a business generator, by identifying opportunities, 44% say that it is the link between their team and the other teams they work with, and 37% say that it is the right allocation. of the resources that the team has at its disposal.

Now is the time for Marketing Managers to fully understand customers' preferences, expectations, and new buying behaviors. With this clear information, you need to focus on building the most memorable experiences in all stages of the customer journey.

"Most companies did not focus on building a solid and consistent online presence. That is why the spectrum of own channels is either non-existent or reduced, undiversified, and in an early stage of activation. All this puts pressure on the marketing department, which must now close the gap with the market and competitors and at the same time produce results for the company. That is why many companies have turned to digital marketing agencies to make sure that they reach efficiently the projected results", says Elena Badea, Managing Director, of the consulting company Valoria, co-author of the study.

Conclusion and recommended actions

Because marketing needs to deliver results in the New Normality quickly, consistently, and efficiently, to make the most of the potential of the online environment, as marketers you need to:

  • Identify when consumers want to buy
  • Identify and measure other moments that matter
  • Make sure you are present in the consumer's micro-moments
  • Create relevant content around these moments
  • Allow consumers to find information and convert as easily as possible

 

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About the survey

This research surveys the perceptions of managers and executives regarding the marketing trends and challenges of Romanian companies. The questionnaire, to which 268 responses were received, was applied between 3 March 2021 and 5 May 2021. 15% of respondents come from companies with a turnover of more than EUR 50 million, 7% from companies with a turnover of more than EUR 50 million. business between EUR 20-50 million, 11% of companies with a turnover between EUR 10-20 million, 11% with turnover between EUR 5-10 million, 19% with turnover between EUR 1-5 million, and 37% less than EUR 1 million turnover. 37% of the respondents have the position of CEO/President/General Manager, 22% have the position of CMO/Marketing Director/Head of Marketing, 19% have the position of Marketing Coordinator, 7% are Brand Managers, and 7% have the role of CCO/Communication Director/Head of Communication. This study was conducted in collaboration with the Mind Shop team.

About Valoria

Valoria is a consulting, training, and executive coaching company. Through our services, we help entrepreneurs to grow their business and make success concrete and predictable, without hassle. Most companies turn to us for marketing, human resources, and sales consulting. We often receive requests to train or coach management teams. Competence, trust, innovation, and passion are the values we uphold in everything we do. We build long-term partnerships and collaborations, because we offer guaranteed results and the best quality, at the right price. Find out more on: www.valoria.ro.

About Mind Shop

Mind Shop is the advertising agency where ideas are born and become reality. We are a team of experienced professionals, with a special passion for innovation and creative thinking. We started our journey in 2001, and in the last 20 years we have carried out over 10,000 projects at the local, national, and European levels. We have an integrated approach, offering complete high-quality services. We are proud of the close collaboration we have with our clients until they become part of their team. We are serious, reliable, creative and we put a lot of enthusiasm into what we do. Learn more on: www.mindshop.ro.

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