New research from RSW/US, a leading outsourced agency new business firm for marketing agencies, newly released the RSW 2021 Marketing Technology & Agency New Business Tools report, which uncovers concerning differences between what marketers say they will focus on relative to their marketing efforts, and what their agency counterparts are (not) doing.
The firm asked marketers to define the marketing challenges that worry them most. The top responses focused on optimizing marketing spends, personalizing experiences, and looking at experiences in a more holistic way:
- “Tracking marketing effectiveness and media spend.”
- “Getting a holistic view of customers across all interactions.”
- “Personalizing the customer experience without violating customer privacy.”
And when asked which marketing technology platforms their companies would likely adopt in the next 1-2 years, either via help from their agency, or on their own, the top responses were:
- “General audience analytics”
- “Site content and experience optimization”
- “Online retargeting”
- “Cross-channel measurement and attribution”
The good news for agencies is marketers are spelling their needs out pretty clearly
It is all right there, plain as day—now agencies just need to execute against it. The bad news is only a small handful of agencies are steeped in the technology areas marketers seem to need most.
The tools least used by agencies are things that directly help address the needs and challenges of marketers:
- Only 57 percent of agencies are using audience analytics tools.
- Only 17 percent are using cross-channel measurement & attribution tools.
- Only 14 percent are using predictive modeling tools.
- And only 13 percent are using cross-channel audience identification tools.
Without a doubt, the marketing and advertising world is getting more complex by the day. The need for marketing agencies to add value beyond the scope of what they produce for their clients is also growing by the day.
Marketing clients are being put under increasing pressure to deliver returns on their investments, faster than ever before. And that investment includes their agencies. So define your clients’ needs, prioritize, and invest.