As online marketing continues to boom, recent data shows media executives still need to take greater initiative. Kristina Knight of BizReport reports a new survey conducted by Accenture shows that 91% of senior executives in media and entertainment admit to not taking full advantage of customer data which could improve engagement by offering more relevant information, while 95% admit to not having sufficient customer relationship management software in place to help manage customer information.
Other survey findings include the fact that 57% of high-level executives report their firms are ‘making continued progress’ in the digital conversions, while 55% report having a ‘clearly defined’ social strategy in place. A mere 38% of execs using social media as part of their marketing strategy are using it to engage customers/build intimacy, and only 17% are using social to build conversions.
Marco Vernocchi, global managing director of Accenture’s Media & Entertainment industry group, told Knight that providing personalized, consumer-driven content to individual consumers via the right platform is the key to revenue growth within the industry.
“Although some companies have made more progress toward achieving the goal of distributing content via any channel, in any format, to any device, most still need to form a holistic view of their digital consumer so they can monetize their content,” Vernocchi explained. “This change in focus from the mass-market audience to an audience of one requires a complex shift from mass media to mass technology.”