As we are gearing up for the new year, it is essential to pinpoint the new set of marketing challenges that marketing executives & business owners will face in order to know what kind of strategies they need to create as a counter-measure.
Here we reveal the top 4 marketing challenges for 2018-2019:
- Lack of Budget
The top challenge that marketing executives face that will negatively impact performance is lack of budget, as shown in the diagram below.
In 2017 – 2018, the top challenge was having the right talent so it is clear that “lack of budget” is a new challenge for marketing executives for 2018 – 2019. In some cases, it will be finding new streams to increase the budget but in other cases, it will be the redirection of budgets from underperforming channels to better-performing ones.
- The Amount of Data in MarTech Stacks
Last year, marketing executives were surveyed whether they felt overwhelmed by the amount of data in their tech stacks and 53% agreed.
This year, the number increased to 56% with marketing executives focusing on investing in marketing technology that can break down large amounts of data to create actionable approaches. This is why Sandbox specialises in providing sets of data that can be broken down easily resulting in rapid, actionable and impactful decision making.
- Success in Organic Marketing
Did you know 1 in 4 marketing executives cannot connect organic marketing success to specific actions by team members?
In 2019, marketing executives will be focusing on determining whether they have the right talent or partners and if they are spending their budget in the most effective way possible. Trackability of new channels makes this change really accessible for any decision maker.
- Measuring Marketing Efforts on a Global Scale
Despite the increase in global consumerism, only 51% of marketing executives agree that it is easy to analyse their marketing efforts on a global scale.
If a business wants to step foot into the global market, measuring marketing efforts on a global scale will be one of their top marketing challenges.
To summarise, 2019 will bring upon 4 new challenges for marketing executives:
- Shift towards content and organic marketing
- Increase their spending on marketing technology
- Focus on organic search being their top traffic driver
- Introduce new technology to analyse marketing efforts
- Scale the good performing channels whilst reducing or stopping the underperforming ones.
What is your opinion about these new marketing challenges for 2019? Do you agree?
Related Tag: Digital Marketing Consulting
