Reaching new customers remains marketers’ top challenge

Published: March 13, 2018 12:02:21 AM

The 2018 Salmat Marketing Report suggests that for most Australian marketers, reaching new customers remains the top challenge (40%) just like last year, followed by lack of budget (38%) and creating customer loyalty (33%).

marketer, customer, salmat marketing report, marketing investment front, brandwagonThe 2018 Salmat Marketing Report suggests that for most Australian marketers, reaching new customers remains the top challenge (40%) just like last year, followed by lack of budget (38%) and creating customer loyalty (33%).

The 2018 Salmat Marketing Report suggests that for most Australian marketers, reaching new customers remains the top challenge (40%) just like last year, followed by lack of budget (38%) and creating customer loyalty (33%). On the marketing investment front, almost one in five marketers (17%) will increase their budgets significantly this year, while one-third (32%) plan to keep budgets the same with only 7% decreasing their budgets. While 2017 saw marketers balancing their overall investment across online and offline in 2018, Australian marketers will spend 41% of their budgets online. The top channels that marketers will look to invest or use for the first time in 2018 will include social media (15%), email marketing (14%), and SEM and mobile/SMS (13% each). The study also found that while 53% of marketers said they used the four Ps to develop marketing strategies, seven out of 10 (69%) marketers could not correctly name all the four Ps of marketing. The most commonly mistaken P was place, with 46% marketers getting it wrong. Even as the brouhaha over RoI refuses to die, many marketers fail to do this regularly with only about 58% of marketers often or always measuring the RoI on their campaigns. Marketers report lack of time, lack of budget and not having the technical knowhow as the top reasons for not doing it regularly. However, 2018 will see insight-driven marketing becoming the norm, according to the study. A high level of brand choice and price sensitivity has eroded brand loyalty, with 40% consumers stating they do not consider brands when shopping and only 18% are loyal to just one or two brands. Despite 62% marketers believing that online reviews do not sway a consumer to purchase, 40% of consumers said they do, in fact, influence their purchasing decisions. The study clearly reveals the disconnect between what a marketer thinks and how a consumer behaves.

— Ananya Saha

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