National Marketers Looking to Localize Their Efforts Finds CMO Council Study
• Just 27 percent of marketers have embraced local marketing automation platforms, resources and tools compared to 62 percent who either don’t have or only now evaluating these options.
• A significant 24 percent of marketing respondents allocate over 50 percent of their marketing and merchandising budgets to local programs; another 42 percent spend between 20 and 50 percent of the budgets on local marketing.
• Only 36 percent of marketers have a formalized process or system for tracking the impact of national brand advertising on local market development and customer acquisition. Some 61 percent either don’t measure this or have an ad hoc system for tracking national advertising effectiveness.
• Cable and broadcast television, local magazines, and radio reportedly deliver the least return on spend compared to top performers like local events, direct mail or FSIs, local partner or channel web sites, social networks and electronic messaging.
• Factors that most influence localization of marketing messages include demographic (45 percent); geography/location (43 percent); socio-economic (30 percent); psychographic (27 percent); cultural (22 percent); shoppergraphic or buying history and behavior (20 percent); as well as language (19 percent).
• Major obstacles or challenges to marketing localization include understanding local market dynamics or variables (31 percent); finding knowledgeable local market resources or experts (23 percent); and determining the right cost/benefit models when it comes to spend (23 percent).
• Top benefits and competitive advantages from localized marketing strategies and programs include: 1) greater customer relevance, response and return (67 percent); 2) better customer conversations and connectivity (40 percent); 3) improved loyalty and advocacy (29 percent); 4) brand differentiation, distinction and preference (27 percent).
“The CMO Council’s Localize to Optimize findings are in exact alignment with the advantages that our breakthrough ‘human kiosk’ solution delivers,” said Simon Wilson, CEO of The MediaTile Company. “We deliver the fusion of interactive digital signage and remote expert agents available for live face-to-face consumer engagement: a brand solution for localized, personalized and interactive marketing.”