Study Reveals Enterprise Marketers Lack the Technology to Deliver Personalized Advertising at Scale
RevJet, creator of the first comprehensive platform to power personalized advertising experiences for Fortune 500 marketers, announced the results of “The Personalized Advertising Confidence Gap.” The October 2018 commissioned study, conducted by Forrester Consulting on behalf of RevJet, evaluated marketer readiness and capacity to deliver advertising creative that is personalized, meaningful and at scale. To create the study, Forrester surveyed 109 decision-makers at companies with at least $1 billion in annual revenue, who are involved in their company’s marketing strategy.
According to the study, in the new era of “customer-obsessed marketing,” companies must deliver relevancy and value in their digital advertising, which is projected to amount to almost a quarter trillion dollars in 2018. However, today nearly 70 percent of enterprise marketers lack confidence in their ability to create and deliver personalized advertising. In order to meet the growing challenges and expectations of consumers, marketers will have to select and deploy technologies that effectively deliver data-directed, personalized and relevant experiences. Enterprises are ready for these capabilities, according to the study, but lack the technology required to execute them.
According to the Forrester study: “This personalization confidence gap means that too many firms run the risk of getting too heavily reliant on advertising technology’s hyper targeting capabilities and so not exploring the power of personalized creative to connect with consumers through delivering valuable, relevant ads.”
Key findings include:
- Only 4 percent of respondents said they had all the digital advertising capabilities they wanted today
- A majority of companies struggle to keep up with the frenzied pace of their customers’ experiences with 55 percent requiring at least a month to optimize their messaging strategy
- Nearly 70 percent of marketers admit they lack confidence in their ability to create and deliver personalized advertising
- Firms who want AI capabilities were 65 percent more likely to lack the needed technology than to say they lack the necessary skills and 50 percent less likely to say that their data is low quality
- Firms who want dynamic creative optimization were 17 percent more likely to lack technology than average, and 69 percent more likely to lack technology than to lack skills
- The top capabilities marketers hope to gain are AI, real-time ad assembly and real-time versioning
“In my view, Forrester’s research shows that for Fortune 500 companies to stay ahead of the competition and quickly respond to customers’ constantly shifting needs, they must embrace modern technology that delivers personalized, meaningful ad experiences,” said Mitchell Weisman, RevJet founder and CEO. “This aligns perfectly with RevJet’s mission to provide a comprehensive enterprise platform for entire marketing teams to deliver relevant, effective and timely advertising experiences seamlessly, at scale.”
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