Credit by Sapna Chadha
Brands that reach full digital marketing maturity see an average increase of 11% in revenue and 17% in cost-efficiency. At that stage, they’re able to harness data in a way that makes every consumer interaction — across different channels, platforms, and ad formats — a highly personal, relevant, and meaningful experience.
The ultimate goal of digital marketing maturity? Maximizing the lifetime value of the customer. Achieving such levels of returns and efficiencies — the holy grail of marketing — has led us to wonder how more companies can achieve this.
We partnered with the Boston Consulting Group (BCG) to look at the digital marketing maturity of more than 30 brands across seven industries in Indonesia, Malaysia, Singapore, Hong Kong, and India.1 The results were eye-opening.
BCG segmented the surveyed brands into four levels of digital marketing maturity:
Surprisingly, while the brands share a number of success factors at different levels, not a single brand reached multi-moment, the highest degree of maturity.
0% of APAC brands surveyed are reaching their full marketing potential
Aligning on the steps to digital marketing maturity — both organizationally and technically — is crucial to setting a company and its campaigns up for success. Today’s consumers expect every online interaction with a brand to be fast, seamless, and relevant. If that expectation isn’t met, they’re happy to look elsewhere. This has put more pressure than ever on marketers to ensure they’re connecting meaningfully with consumers at every opportunity. It’s essential for every brand ... so why weren’t any doing it well?
While every brand’s approach to creating better ad experiences may differ, we believe that data and technology should always play a central role. So, based on the research study, BCG mapped out a plan to help brands — including Google — move up the digital maturity curve.
A road map toward multi-moment maturity
Leaders aiming to reach the multi-moment level of maturity need to start by taking an honest assessment of where they are on the maturity scale. Then they can focus on taking the steps to move their companies up the curve.
Brands at the nascent level need to set the foundation.
Brands at the emerging level need to build connections.
Brands at the connected level need to make every moment matter.
The path to digital marketing maturity
Set the foundation
Getting both internal and external alignment and support right from the beginning will go a long way. Organizationally, identify support from executives and enroll partners to help fill any capability gaps. From a technical standpoint, brands need to understand what data is available and use website analytics and tags to harvest customer insights. That will ultimately help carve out the most relevant content and audience segments to focus on.