Wondering if your digital marketing efforts are matching up to that of the region? Speculating how you benchmark against your competitors? The APAC Digital Marketing Performance Dashboard 2012 was launched today by the CMO Council in partnership with Adobe, measuring the state of digital marketing performance and maturity across APAC. A six-month in-field program comprising quantitative and qualitative surveys, this inaugural study benchmarked the levels of adoption, traction and success of digital marketing in Australia, China, Korea, Singapore, Hong Kong and India. 295 senior marketers from a range of industries took part. Now you can gauge your performance against the rest and get a better understanding of digital marketing in the region!
Several keys points from the report stood out:
- Digital marketers in APAC have high levels of optimism and confidence in the benefits that digital marketing can bring to their business.
- 93% of respondents believed that digital marketing could create competitive advantage for their company
- 52% felt that digital marketing was crucial in helping them form a customer-centric, responsive organization
- 51% felt that digital marketing helped boosts the effectiveness and efficiency of their overall marketing programme
- 63% claimed that customer preferences were driving the move to digital marketing activities
- The greatest obstacle facing APAC marketers is the low investment levels dedicated to digital marketing.
- 53% of respondents cited budget limitations as a significant factor preventing them from undertaking critical activities such as testing and analysis
- 72% are spending less than 25% of their total marketing budget on digital marketing initiative
- Of that group, 37% are spending even less than 10%
- In spite of the current low spend, APAC marketers expect to increase investment in 2013.
- 47% of respondents said they would increase allocation to digital marketing to between 10-24% of their total marketing budget
- 22% said they would increase spend to 25-49%
- Skill shortage appears to be a significant issue across APAC.
- About 49% of respondents said their current marketing teams didn’t have the right skills, experience or talent needed to take on digital marketing strategy
- 38% said they had insufficient budget to bring on the right level of senior talent
- 27% admitted that they were unable to find the right staff with the right skills
- 32% acknowledge that outsourcing is not the solution by saying their agencies’ capabilities were limiting their ability to execute effectively
- Although a majority of organisations in APAC are using analytics and reporting technologies, they are still finding challenges in measuring return on investment.
- 72% of respondents are using analytics and reporting technologies. However, of those, only 3% feel they are excelling in their ability to measure value and return.
What does all this mean for digital marketers in APAC? It stems down to two main meanings. Firstly, marketers are using reporting and analytic technologies but struggling to move beyond basic KPIs. This can be seen in the data where although 72% of respondents are using reporting and analytic technologies, only 19% of those rate their ability to measure ROI as excellent or very good. Secondly, the lack of dedicated resources will continue to make it difficult to demonstrate ROI and develop a strategic approach. The report shows that 74% of respondents rate their current proficiency in delivering a go-to-market digital model as moderate or needing improvement. A staggering 49% say lack of in-house digital expertise is their greatest challenge while 72% are using multiple digital agencies. Both the challenge to move beyond basic KPIs and the lack of dedicated resources affect the ability to measure ROI effectively which in turn leads to the inability to increase budget with the lack of proof.
So then, what are the next steps? There are several recommendations that you can start working on to get improve your digital marketing efforts:
1) Appoint senior digital marketing leaders to own the marketing strategy alignment to key business drivers.
2) Make sure your organization is measuring the right elements in order to demonstrate ROI
3) Boost in-house dedicated, skilled analytics resources to drive the shift from tactical KPI measurement to prove ROI and leverage data for analytic insights
4) Continue investment in measurement and optimization technologies as well as ongoing staff training – up skill your in-house staff today!
To download and read the full report click here
To view the APAC Digital Marketing Performance Dashboard Infographic click here
To view the APAC Digital Marketing Performance Dashboard ROI Measures Infographic click here