A new study conducted by Forrester Consulting on behalf of TransUnion has revealed significant challenges faced by many marketing teams.
These challenges primarily stem from the complexity of their marketing technology (martech) stacks.
The study found that a substantial 70% of marketing leaders struggle to effectively identify and reach their target audiences across various channels.
This difficulty arises from the fragmented nature of their martech systems, often involving a multitude of tools.
Two-thirds of the marketers surveyed reported using 16 or more martech solutions, significantly increasing the complexity of their operations.
This complexity presents several critical obstacles for marketing teams. These challenges include difficulties in personalizing customer journeys, scaling marketing efforts effectively, integrating AI capabilities, and ultimately, wasting valuable marketing budgets.
In a press release, Matt Spiegel, executive vice president and head of TruAudience marketing solutions at TransUnion, said,
“Marketing leaders know what they need to do—they’re just stuck juggling 16 or more martech solutions, creating overwhelming complexity.”
He added,
“It’s not about changing your stack but leveraging identity and data tools to connect these disconnected tools. Without that connection, inefficiencies become significant concerns. We hear from teams every day struggling to bring it all together. But when they do, the difference is massive.”
However, the research also highlights a promising solution: The utilization of identity resolution tools. By integrating their fragmented data sets through these tools, organizations can significantly improve their marketing outcomes.
The study revealed that organizations leveraging identity resolution are more likely to meet or exceed their customer experience and understanding goals, improve customer insights, and make more data-driven decisions.
What Else Can Marketing Leaders Do?
Beyond identity resolution, marketing leaders can employ several strategies to effectively identify and reach their target audiences across various channels.
Data-driven segmentation plays a crucial role. Instead of relying solely on demographics, marketers should utilize a wider range of data points, such as purchase history, website behavior, social media engagement, and interests, to create highly targeted audience segments.
Customer data platforms (CDPs) can be instrumental in this process, as they unify customer data from diverse sources, providing a single, comprehensive view of each individual, which enables more precise segmentation and personalized messaging.
Omnichannel marketing is essential for a seamless customer experience. Marketers should ensure consistent messaging and experiences across all touchpoints, including email, social media, website, mobile apps, and physical stores.
Utilizing cross-channel retargeting, where customers who have interacted with the brand on one channel are reached through targeted ads on other platforms, can significantly enhance reach and engagement.
Search Engine Optimization (SEO) offers strong tactics for marketing leaders to identify and reach their target audiences such as conducting audience research and learning more about the audience that searches for a keyword, uses words in their bio, or visits a website.
Additionally, focusing on high-quality, original content – this content should address the specific needs and interests of the target audience while incorporating relevant keywords naturally. Lastly, prioritizing user experience (UX), not just for Google, but also to satisfy the user.
Content marketing is another powerful tool for marketing leaders to embrace. This requires conducting in-depth audience research and developing buyer personas and gathering direct feedback from their target audience.