The left hand and the right hand need to talk. The report, “From Metrics to Outcomes,” recently released by Oracle, confirmed that brands are still working under outdated and segregated departments resulting in huge losses.
As part of the survey, Oracle partnered with Coleman Parkes’ 800 chief marketing officers, chief security officers, senior marketers and senior sales executives across France, the Netherlands, South Africa and the U.K. Those who work in manufacturing and high-technology, online retail and telecommunications were polled.
The report revealed that the industry is still slow to address rapid changes in the consumer landscape, despite readily available technology solutions. “Thirty-four percent admit that their sales, marketing and customer service teams work completely independently of each other,” said the report. According to the research, sales and marketing teams are challenged to meet key metrics while attempting to align with the needs of the other department.
The study also showed that companies continue to resist integrating sales and marketing teams. “Thirty percent say their corporate culture makes it difficult for sales and marketing teams to align priorities,” the report said. This is likely due in part to the lack of deploying technologies that will resolve the existing gaps in communication and shared data. The report said, “Thirty-three percent say their current systems and technologies make it difficult for sales and marketing departments to collaborate.
“Customers rely on a mix of online resources, marketing materials and third-party research to inform their purchases, so determining which tactics directly led them to buy takes a more nuanced assessment,” said Daryn Mason, senior director of customer experience applications at Oracle. “It’s time brands align their teams internally and move them away from insular KPIs like impressions, and toward value-based metrics that reflect the way people engage with them through digital channels.”
As the retail landscape continues to diversify, streamlining and promoting integrated workflow — especially communication — is imperative in order to maximize data analysis for improved and well-executed business strategies.
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