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B2C CMOs are all about performance. In 2020, with budgets tight and the economy in flux, that’s not necessarily a bad thing. But as we found out in a recent survey of 500 top B2C CMOs, that leaves a massive, untapped opportunity at the top of the funnel.
In our just-released report, Accept No Limits: B2C Marketing in 2020, we examine major obstacles and growth opportunities in the B2C industry. One of our more intriguing findings was this: while over half of B2C CMOs acknowledge the top of the funnel is a big challenge, they’re leaving plenty of room for competitors to address the challenge first.
First, the stats: asked where they’re experiencing difficulty in the funnel, CMOs most frequently cited awareness (55%), interest (49%), and consideration (43%). And asked for their top KPIs, CMOs named organic growth (40%) first on the list. Yet elsewhere in the survey, CMOs showed relatively little interest in customer journey analytics or traffic & abandonment rates.
Marketers without customer understanding will have a hard time building positive brand awareness, and marketers who don’t connect the dots from traffic to growth won’t have much luck re-allocating budget to the top-of-funnel initiatives. With so many consumers up for grabs and so few CMOs dedicating resources to begin engaging them, room for differentiation abounds.
We explore this and other insights in the full report, which you can download here.