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27.12.2010 Marketers adapt approach after the recession

The most successful brand owners are prioritising innovation, consumer engagement, customer analytics and streamlining their operations, a study by Accenture has argued. The consultancy surveyed 400 marketers worldwide, 71% of which agreed shoppers now demand greater value, while 69% suggested price sensitivity has grown and 68% said expectations about service were higher. Over 60% of executives revealed these shifts had exerted a "very large" impact on strategic planning thus far. Elsewhere, 72% reported product quality was increasingly key, 66% believed respecting the fact individuals and families are time-poor is vital, and 63% cited a need for enhanced convenience. Although 58% confirmed popular spending habits have changed and consumers seem more "self-directed", only 39% thought loyalty levels had decreased. The same number asserted it was harder to reach the desired demographics via traditional channels and 53% added that forging a personal connection should be considered a main concern.

Approximately 59% have adopted tailored approaches in certain countries, and 52% were seeking to meet the preferences of varying age groups. Innovation is another differentiating factor, as 60% of the sample advocated generating goods with unique features. However, less than 12% of those polled intend to heighten the funds allocated to marketing initiatives this year, including 11% "streamlining processes", and 9% supporting digital advertising and other online programs.

B.L. 27.12.2010