Mobile devices and social media mean that for the first time, companies can easily engage with consumers directly, but the learning curve for doing this effectively can be steep.
Although 96 percent of companies are using Facebook and 83 percent are using Twitter, few have an overall marketing strategy that incorporates digital and includes clear metrics for success, according to a new report by The Boston Consulting Group.
The report, "Marketing Capabilities for the Digital Age," presents the findings of a BCG survey of marketing executives at 31 major corporations in Asia, Europe, Latin America, and the U.S. The report presents an overview of the digital landscape, industry-specific guidelines for getting more from digital marketing, and the benefits that leading companies are gaining—such as higher sales, lower costs, and greater brand equity.
The survey revealed that marketing executives are wrestling with a range of issues, including how to reach customers most effectively at each step of the purchasing process, create the right organization design, build a test-and-learn culture and find much-needed talent.
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