EIU Executive Summary Highlights Industry Perspectives on Channel Effectiveness
The Economist Intelligence Unit (EIU) conducted two Lyris-sponsored surveys in Spring 2013 asking marketing executives and consumers in the U.S. and U.K. about the effectiveness of different marketing channels. The executives were from six key consumer products industries – retail, banking, travel, media, entertainment, and automotive – and the consumers had used digital channels to research purchases from each of these industries.
Mind the Marketing Gap: Sizing up Marketer vs. Consumer Perceptions by Industry
This report provides new insights and perspectives on gaps between what marketers might think their customers want and what really matters to them. Key findings include:
- 75% of retail consumers say pricing and promotions are what they want most from company channels, somewhat higher than the all-industry average of 67%.
- 42% of banking marketers cite customer retention as their top marketing goal, much higher than the all-industry average of 28%.
- 70% of travel industry executives report relatively high increases in the use of online channels to drive sales, versus an all-industry average of 66%.
- 33% of media marketers allocate more than one-quarter of their budgets to email, a proportion that is second only to the automotive industry.
- 27% of entertainment executives rate as important deep analysis of consumer data to target offers, up from 19% five years ago.
- 30% of automotive marketing executives cite deep analysis of consumer data as their top marketing strategy, up from 13% five years ago.
Learn how to bridge the gap with actionable insights into how consumers prefer to engage with brands, what influences their purchase decisions, and much more.
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