When it comes to developing a cohesive, effective digital strategy, new research suggests that marketers who come from larger companies may have an easier time doing so.
PROS recently published an eBook titled, “The Future is Now: Technologies Shaping Commerce” and found that 87 percent of companies that make an excess of $5 billion annually streamline the buying experience for customers. This was compared to just 81 percent of $1B-$5B companies, and 75 percent of $500M to $1B companies.
About 82 percent of companies in the $5B realm also enable coordinated experiences across channels. This is compared to 80 percent of $1B to $5B companies, and just 70 percent of $500M to $1B companies.
“Larger companies lead the way with driving digital transformation, likely as a result of budgets that allow them to do so,” wrote the authors of the eBook. “Regardless of company size, organizations should take the time to research which elements of digital strategy are most important when it comes to meeting customer needs.”
Marketers Predict a Rise in Budgets
Despite some of the challenges associated with having a strapped budget, previous research suggests that marketers have come to expect a rise in their budgets to achieve their initiatives.
When “The CMO Survey” from Deloitte, The Fuqua School of Business at Duke, and the American Marketing Association was published in February 2018, statistics showed that B2B product marketers expected a 9.3 percent increase in their marketing budget over the following 12 months. B2B services marketers foresaw an 8.5 percent increase.