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With pandemic concerns spurring the movement of customer interactions – both B2B and B2C – to digital channels, marketers are increasingly interested in technologies that collect data from those interactions, unify them, deliver insights and enable campaign orchestration.
At Burger King, the guest experience is at the core of everything we do, and we’re always looking for innovative ways to engage with our guests,” said a Burger King spokesperson. “The BK Keep It Real Meals campaign felt like a natural fit to launch this kind of large-scale NFT-based game that would allow guests to engage with our brand and this campaign in a unique, culturally relevant way.
The 2021 CMO Council Survey of Members found that 65% of marketers plan on increasing their marketing spend in the year 2021. Moreover, 69% say that they will be increasing their investment in MarTech (marketing technology) in order to enhance efficiency and effectiveness . There are hundreds of sophisticated tools available at the disposal of the marketers. However, only 58% marketers surveyed actually use their MarTech stack to its full potential .
BrandMaker recently published the “2021 State of Marketing Operations” report, and statistics showed that the majority of CMOs (51%) would like their team to better integrate their martech stack at some point in 2021. The majority of CMOs (42%) also said that they have “pockets of great martech,” but there are gaps that impact their abilities.
What’s more, MarTech helps marketers gather more consumer insights than ever before. “Technology partners are connecting the software, hardware, wayfinding and in-the-moment support to ensure a great experience—and linking it all back to the customer relationship management system,” Mike Whaling, president at 30 Lines, said. And with so many different marketing channels and customer touchpoints, the CRM enables the team to see which MarTech tools are adding value.
But one critical—and overlooked—factor hampers the ability to deliver on these goals: ineffective communication. When communications break down, it creates tremendous costs for marketing organizations by eroding engagement with customers and prospects, decreasing alignment around brand messaging and goals, and preventing productivity and growth. For example, even well before the pandemic, poorly written communication was costing businesses a staggering $400 billion annually in lost productivity.