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Can we still say that we live in challenging times? Or is this the new normal and do companies just have to get used to turbulent economic and social developments? There is probably little else to do than move along and try to keep up. For marketers, there is an additional challenge. As professionals, we not only feel the constantly changing market conditions, but we also have to anticipate and interpret that movement from our professional field. What are new angles, where do business opportunities and challenges lie in such a dynamic world?
SurveyMonkey recently conducted research into the world of marketing professionals in 2023. What do marketers see as the biggest challenges and most important opportunities for this year? The research revealed three topics that marketers find most exciting: the volatile landscape in which companies operate, the fine line between rising expectations and unattainable goals, and too little autonomy and control. At the same time, they also see this, after all, as marketers, as excellent conditions to differentiate themselves and create new audiences and markets for themselves and their customers. I’d like to take you through the top 3 challenges and opportunities according to marketers.
1. The turbulent environment
Nearly half of marketers (49%) say the state of the economy is the most important factor in their organization’s success. That’s a worrying number in times of economic instability like these. Furthermore, 53% are experiencing more competition this year than last.
Inflation is still high, the labor market is tight, and the financial turmoil is also spreading to banks . Such developments usually mean that companies are paying closer attention to their budgets and that there is less room for new initiatives. At the same time, the boardrooms are looking to marketers to maintain demand, market and growth. That seems unrealistic, but even in these times there are opportunities. Turbulent times and disruption mean that the market is shaken up and that cracks appear in the status quo. And as Leonard Cohen wrote: There is a crack in everything, that’s how the light gets in.
The majority of marketers in the study do see scotland email list 13234 contact leads that light. 56% plan to take more risks this year and see opportunities to stand out more, be more distinctive and connect even better with customers. Platforms like TikTok, which have become interesting for the business market, also offer the space to take (strategic) risks right now.
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Also read: Marketer, don’t you have entrepreneurial DNA? Forget it!
2. Higher expectations and unachievable goals
Less than a quarter (22%) of marketers say that error 522 (‘connection timed out’): how to fix this problem all set goals will have been achieved in 2022. Yet 80% indicate that expectations for 2023 have been further increased. Apparently, economic instability has little effect when it comes to the expectations (or perhaps better: requirements) that marketers must meet. Organizational leadership sets the bar high and always higher. There is nothing wrong with ambition, but setting aob directory unachievable goals is usually counterproductive, for both marketing professionals and other employees in the organization. What message do you send when goals are repeatedly not met?
In situations like this, the importance of data is highlighted once again. If you can discuss data in meetings, not only about your own performance, but also about general and industry-specific market conditions, you have a strong argument for keeping objectives ambitious but also realistic. Sound market research forms the basis for achievable goals and realistic expectations. Good market research also ensures that you continue to address the right target