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Accenture: Marketers hampered by insufficient budgets, skills shortages

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New York—Marketers responsible for driving corporate growth are being hindered in their efforts by insufficient budgets, skills shortages and inadequate tools, according to a new study by consultancy and technology services company Accenture.

According to the company’s report, “Onward and Upward: How Marketers Are Refocusing the Front Office for Growth,” top strategic objectives include improving operational efficiency, increasing profitability and responding effectively to change.

However, respondents said they’re encountering several barriers to success, such as inefficient business practices (cited by 21% of respondents), inadequate funding (17%), insufficient integration with other business functions (15%), a lack of required skills (13%) and lack of access to the customer data they need (6%).

Generally, frustrated respondents reported that changes in customer expectations are impacting their marketing strategies. For instance, 72% said that “most or all” of their customers expect more value for money, 71% said customers have higher product quality expectations than in times past, and 68% said customers have higher customer service expectations.

Accenture’s online survey was conducted from November 2009 through January 2010 and drew 400 marketer respondents from companies with annual revenue of $1 billion or more.

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