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Small-to-medium (SMB) sized companies are quickly adopting modern-marketing techniques to engage customers, drive revenue, and deliver better customer experiences according to a new survey conducted by Oracle Eloqua and BtoB magazine.
The global study surveyed 204 executives from companies with revenue ranging between $25 million and $200 million.
SMBs are faced with a complex set of marketing challenges as they look to drive the best customer experience, understand and engage their audiences, accelerate sales cycles, and deliver the fastest time to revenue, the report says.
Overall, the study revealed that SMB marketers need to implement modern marketing practices to demonstrate the value of their marketing activities and drive revenue for their businesses.
Here are some of the survey’s key findings:
The business value of modern marketing techniques: 72% of SMB marketers believe modern marketing solutions that facilitate targeting, engagement, conversions, analysis, and marketing technology will result in better sales
Tracking marketing ROI is driving a shift to modern marketing: When asked about the most important changes that have contributed to the formation of the modern marketer, 64% of SMB marketers identified the ability to track ROI. The maturation of digital demand generation and lead nurturing (53%) and the emergence of social media (52%) also are prominently noted
SMB marketers rely on vendors to support the transition to modern marketing: 55% of SMB marketers believe that the most important benefit that vendors can provide is communicating the value of their investment in technology. This critical element was followed by the importance of easy-to-use software (51%), and the need to reduce red tape and make it easy to do business (41%)
SMB companies are accelerating their transition to modern-marketing practices: In assessing the marketing state of their companies in 2012, 30% of SMB marketers indicated they were “strong” or “complete” adopters of modern marketing capabilities. For 2013, that estimation rises to 49%, and in 2014 to 74% of SMB marketers.
“Modern marketing techniques are enabling SMB companies to improve targeting, engagement, conversions, and analysis across digital, social and mobile channels through the use of technology,” Andrea Ward, VP of Marketing at Oracle Eloqua, said in a press release. “As this survey showed, the majority of SMBs are in the process of accelerating their transition to modern-marketing practices. At Oracle we are committed to helping our customers drive the best customer experience, understand and engage their audiences, accelerate sales cycles, and deliver the fastest time to revenue.”
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