Millward Brown Vermeer will today reveal the findings of a global study that looked at how marketers and organisations approach insights and data, at the AANA RESET conference in Sydney.
Of more than 60 attributes the report looked into, it identified 10 that drive significant difference for organisations. Marc De Swaan Arons, CMO of Vermeer, told AdNews earlier this week ahead of revealing the findings that those 10 drivers can make a significant difference between over and underperformance.
“The traditional reasons for competitive advantage are over and now it’s who is the most connected. It comes down to customer centricity. Does it lead to business growth? The short answer is yes. But what are the drivers of it and how do businesses achieve it?”
It comes down to over performing businesses operating with a sense of purpose that is engrained throughout everything and use data and insights to serve that. Underperforming businesses operate in legacy frameworks and hold data in silos.
For instance, 80% of over performing businesses have a purpose that is linked to everything the organisation does. Just 32% of underperforming businesses make the same claim.
Almost three quarters (73%) of over performing businesses say that they create customer experiences based on data, while just 31% of businesses underperforming say the same.
Customer centricity is a top priority for 91% of leaders in over performing firms while only 48% of CEOs in underperforming companies agree.
Risk is another factor that differentiates over-and under-performing organisations – 40% vs 13%.
“Instead of thinking about products and services, brands should start thinking about the total experience, across touch points. And in leveraging data, instead of focusing on the detail of the data – focus on the actionability,” he advised.
The Insights 2020 report is a follow up to Millward Brown’s Marketing 2020 report last year. More than 10,000 respondents globally in more than 60 countries including more than 300 in-depth qualitative interviews.
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