Returning for a second year, our Marketing Transformation report in partnership with Accenture Interactive explores three insights to guide your transformation journey, drawn from our 2021 awards.
Here's a foreword to the report from Michele McGrath, Managing Director, Accenture Interactive. You can view the report here or download the PDF below.
Marketing's transformation story
Accenture Interactive is passionate about raising the bar for marketing and we're delighted to be supporting The Marketing Society Awards again this year. It's especially rewarding to be able to celebrate marketing excellence after such a challenging year of COVID-19 lockdowns and restrictions.
The pace of digital transformation has been unprecedented to the extent that, today, every business is a technology business. Our lives have been turned upside down during the global pandemic, and marketing teams across all sectors have boldly stepped up and risen to the challenge of reimagining new experiences for their customers. Brands have had to be agile, responding to customers' new, often unmet, and constantly evolving needs: making lives more convenient, healthier, safer, greener, more rewarding and more productive. It was this 'customer obsessed' approach that caught the attention of the judges in the entries for the 2021 Awards.
The entries that shone through for the judges were those which successfully elevated their brand experience, embedding it at the heart of their entire business strategy. Successful brands realised that to build loyalty and win market share, they need to do more that just deliver great products. They need to bring joy, and design exceptional experiences for their customers no matter the circumstances.
Research conducted by Accenture Interactive and Adweek reveals that 80% of brands think they deliver a superior customer experience but only 8% of their customers agree. In addition, a study by Oracle found that while 86% of buyers will pay more for a better brand experience, only 1% feel that companies consistently meet expectations.
These missed expectations impact the bottom line, equating to reduced profits, market share and customer loyalty, whereas brands that provide stand-out experiences reap huge rewards. The strong calibre of shortlisted entries in this year's Awards truly validates our belief that great marketing closes the gap between consumers' expectations and brands' ability to deliver.
The Marketing Society Awards highlight that, when marketing talent can make sense of the complexities of delivering outstanding experiences and respond to new trends with agility and speed, sustainable growth is achieved and recognised. Our team at Accenture Interactive is dedicated to supporting this great platform as we are passionate about creating powerful, new experiences from scratch and then scaling these rapidly through smart, digital operations.
As marketers in an unpredictable world, we must continue to embrace change. We must experiment, reimagine customer experiences and be bold in transforming them.
As we begin to plan for 2022, the marketing that will matter most will combine deep human and business insights with the creativity that technology can unlock. It's our hope that you will be inspired to constantly innovate to deliver memorable experiences and keep your customers at the core of your organisation's strategy to achieve sustainable growth. Until then, we continue to celebrate the phenomenal marketing talent being recognised this year and we look forward to seeing the great work you and your teams submit to The Marketing Society Awards in 2022.
Michele McGrath, Managing Director, Accenture Interactive