Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Majority of businesses missing sales and revenue as a result of inefficient marketing technology, according to new research by Avanade and Sitecore

Majority of businesses missing sales and revenue as a result of inefficient marketing technology, according to new research by Avanade and Sitecore

A global survey of 1,440 CIOs, CTOs, CMOs and other senior decision makers, conducted by Avanade, the leading digital innovator, and Sitecore®, the global leader in experience management software, reveals that 95% of organizations say their customer experience (CX) is in critical need of improvement.

The research study, “Connect your martech to connect with your customers,” shows more than 60% of marketing respondents believe they are leaving significant revenue and sales opportunities on the table due to their organization’s marketing technology (martech stack).

Key findings from the research include:

Martech is the foundation of great CX – if it is done right. However, most companies find it difficult to achieve. Two-thirds of respondents agreed that their organizations weren’t very mature when it comes to understanding the customer experience, personalization and data analytics.

Problems with martech can impact the entire business. Without an optimized martech stack, companies struggle to deliver a consistent CX, leaving money on the table – a situation reported by more than half of marketing respondents.

Businesses need to rethink their martech priorities, leveraging AI and analytics to rebuild the foundation. These technologies are key to helping identify customer needs, improving customer experiences and making marketing technology future ready. But the majority of respondents have yet to adopt AI or analytics.

Revising team skills, training and hiring can help businesses stay competitive. Along with hiring the best talent, businesses need to focus on working with the best partners to augment skillsets and train employees for collaboration. Today, more than half of marketing respondents say their martech stack is not user friendly, and even more IT respondents say marketing employees do not receive the necessary martech training.

Companies can capitalize on the new roles and expanding responsibilities of the CMO, CIO and chief digital officer (CDO). Lack of collaboration across these key roles was something the majority of respondents cited as hampering their company’s ability to deliver great customer experiences. Balancing technology and marketing needs is becoming a business imperative for companies to connect with their customers.

“Great customer experiences can deliver 3x the ROI to a business, but companies need to invest and optimize their marketing technology to achieve this,” said Stella Goulet, chief marketing officer, Avanade. “Increased collaboration between key IT and marketing leaders is part of the equation, but identifying trusted partners is critical to building strong customer connections and helping these traditional cost centers transform themselves into core drivers of revenue.”

“When there is a disjointed customer experience with a business, there is a lost competitive advantage,” Anil Gupta, executive vice president, program management, Sitecore. “IT and marketing must align to solve this challenge and leverage the right technology and a digital strategy that prioritizes a customer-centric approach, including personalized experiences and a trusted customer relationship.”

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post