Wharton Customer Analytics
Recalibrating Your Customer Analytics Strategy
The pandemic-induced recession is the tipping point that is forcing businesses to accelerate the digital transformation of their commercial models. New research from The Wharton School in collaboration with Forbes confirms business leaders are shifting their budgets and management focus in digital channels to gain access to buyers, support virtual selling, and replace traffic and eyeballs from face-to-face trade shows, events, and storefronts.
The research into the strategies and spending patterns of 352 CMOs confirmed the pandemic is accelerating efforts to make the go-to-market model more digital, data-driven, and measurable. 88% of CMOs view the pandemic as a big opportunity to change the way they reach and engage customers. This is something they have been pushing their boards to do for years and now they are actively reshaping their budgets to achieve this. 81% are increasing investment in digital technologies to improve market coverage and client engagement. And over 80% are investing more in digital channels, media, and the content to support them at a time when two-thirds of companies are cutting growth budgets overall.