In today’s edition of the QT: Marketers taking their eye(s) off the ball, what the Bing/ChatGPT mashup really means, and shifting resources to loyalty. Speaking of loyalty, you’ll want to read Robert Passikoff’s most recent piece on what exactly drives this thing we call loyalty. Until Thursday!
– Mike Giambattista, Editor in Chief
FEATURE: What’s Really Driving Brand Loyalty?
From a measurement perspective it’s defined as the degree to which a brand meets expectations that consumers hold for the Ideal product or service in its category. It’s the answer to the question, “How well does the brand deliver on what consumers really desire?” “Desire” having a lot more to do with emotional values than rational, “price-of-entry” values. which are generally ubiquitous. READ MORE.
MarTech
Marketers Achieve Limited Success with MarOps Investments
Gartner surveyed over 400 marketing operations (MarOps) leaders between August and October 2022 to find that 94% of marketing organizations are formally pursuing operational excellence(e.g., improving processes, building new capabilities). This indicates an acceleration of investment since 2020, when only 49% of marketing organizations surveyed had a dedicated MarOps leader. However, the survey found that 72% of operational excellence pursuits don’t actually demonstrate characteristics that align with success, putting enterprise growth and marketing transformation at risk.
Bing & ChatGPT
Microsoft revamps Bing search engine to use artificial intelligence
More than just offering search results, the new Bing will be able to instantly create an itinerary for a vacation; offer ingredient substitutions in recipes; and annotate search results with links, citations and context on the right side of the search page.
Measurement
Blind marketing: 64% of eCommerce marketers fail to measure customer engagement. That’s according to new data from Customer Engagement Platform SALESmanago, which surveyed 250 eCommerce marketers across Europe to determine whether the measurement of customer engagement elements is being neglected. Worryingly, almost half (48%) don’t think customer engagement metrics are important.
Loyalty Shift
38% of marketers shift strategy from customer acquisition to loyalty. There is also a divide between client-side marketers and agency executives, with 21% of the former group optimistic about Q1 compared to 10% of the latter. CMOs have a habit of expressing a rosier outlook than is potentially warranted by macroeconomic conditions.
