Challenges faced by marketers
Marketing Leaders are facing new challenges with historic pressure to deliver more value with less resources. From decreasing budgets, to changing consumer behaviors, the stakes have never been higher for leaders to make smarter, faster marketing decisions. Here are the biggest challenges faced by marketers today.
Top Marketing Challenges
- Decreasing Budgets: Average Marketing budgets fell from 11% of revenue in 2020 to 6.4% in 2021
- Move To In-House: CMOs are reporting that 29% of work previously executed by agencies has moved in-house.
- Changing Consumers: 56% of consumers report spending less time in-stores, while digital spending grew by 55%
- Great Resignation: In November 2021 a record 4.5 million workers left their jobs as part of the great resignation.
With all of these competing priorities, it can be hard to determine where to invest your team’s time and resources, or even get a full understanding of how your performance compares to your industry and competitors.
Challenges of digital marketing
In today's ultra competitive “digital-first” world, best-in-class marketing leaders understand that there is no longer a difference between digital marketing and traditional marketing. It’s all marketing. Unfortunately, teams are struggling with creating and executing on effective digital marketing strategies.
At our firm we see a lot of new and experienced marketing leaders flying blind, making budgeting and resourcing decisions based on their guts or half baked data built on assumptions.
Marketing Leaders need reliable benchmark data to help act as a guiding light for making better decisions, faster.
RELATED: Digital Marketing Audit and Benchmarking Your Brand's Performance
How do you overcome marketing challenges?
Our Digital Marketing Benchmark Audit with competitive intel helps leaders prioritize digital investment according to their biggest digital marketing opportunities.
When combined with our Five Ps Framework assessment and team survey, marketing leaders can get a 360 degree view of their marketing strategy and operational effectiveness. Your audit will unlock the answers to questions around competitive benchmarking, budget allocation, team development, strategic roadmapping, and transformative growth.
If you’re looking for an expert, unbiased, outside perspective based on real benchmark data, that can reduce the audit process from several months to several weeks - Fratzke is the partner for you. Visit our Digital Marketing Benchmark Audit page to learn more, and submit a contact form. We look forward to connecting with you.
GET STARTED: Schedule a call to learn about our Digital Marketing Benchmark Audit
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