Market managers: Compare your digital maturity with other companies.
How can you increase profitability and take the digitalisation to the next level?
Among our interviewed companies, the majority were in two phases, which we chose to name the applicant and the insightful phase. Only a few companies scored high in all areas. We found that the most important factor for success is a clear strategy, transformed throughout the organisation where all areas are evaluated and optimised.
How are you in digital maturity? Are you among the 'seekers' or 'the driven' companies in digitalisation?
There are many marketing departments working for traditional companies that currently have a profitable business but have only just begun its journey to change. Many companies have begun or completed the strategy but have had difficulty in creating a process of change.
The major challenge is that the current business requires a clear focus on maintaining profitability while recognising that there will be major changes in the organisation’s current way of working in order to continue to be successful. Marketing managers are unsure of what they need in system support or data, and therefore have difficulty setting up requirement specifications, even if they have the opportunity.
Here, many of the tech companies are categorised, many of whom had just left the start-up phase behind them. Even traditional companies that have set up separate digital departments are positioned here. The companies have system support in place and work in customer workflow processes. Marketing focusses large on a digital approach.
Even though marketing leaders feel they are on the right track, they feel significantly less confident in terms of Martech strategy, processes, data and analysis than companies in the search phase do. Some also express concerns that the company will be outrun by competitors or that other parts of the company do not understand the level of investment required.
A few companies put themselves high in all areas. A distinctive mandate for all these companies was a clearly implemented strategy and a focus in all areas.
Their organisations were clearly changing and with great confidence. Their technology was referred to as an enabler and often an advantage over their competitors. Often these marketing managers also had sales responsibility for the business, controlling both business and customer benefit to maximise profitability.
Read more about the four key areas to achieve profitability and take the digitalisation to the next level.
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