A new survey of chief marketing officers suggests that just-in-time marketing is outperforming traditional mass-marketing strategies.
In their survey of more than 500 chief marketing officers from around the globe, Accenture found that mass marketing strategies are proving to be less and less successful. The CMOs said that as little as 20% of customers typically reached using this strategy are interested or able to purchase the promoted product.
However, by adopting just-in-time marketing, CMOs are better able to reach consumers with relevant content at a time when consumers are in the buying mood.
Thirty-eight percent of the companies Accenture identified as just-in-time marketers have grown their annual revenues by more than 25% compared to just 12% of their peers, according to the report, ‘Building the Just-in-Time Marketing Organization’.
As well as delivering a higher return on marketing dollars, just-in-time marketing was also found to increase the ability of marketers to generate customer insight and just-in-time marketing firms had higher digital integration. More than half (58%) of just-in-time marketing firms said their digital and traditional marketing initiatives were “very highly integrated” compared to just 19% of other firms.
“Just-in-time marketing organizations provide more satisfying and engaging customer experiences,” said Rob Davis, managing director, Accenture Interactive. “To deliver on the personalized experience customers expect, they have changed their marketing operating model, for example, by integrating digital and analytics. The winners will be those who balance creative excellence with operational rigor.”
Written by Helen Leggatt