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1、1 Survey conducted by CommerceNext and sponsored by Oracle Customer Experience (CX) Cloud How Leading Retailers and Direct-to-Consumer Brands Are Investing in Digital A benchmark report based on a survey of ecommerce marketing executives. 2 LETTER FROM COMMERCENEXT Thanks, Allan, Scott and Veronika
2、CommerceNext Co-Founders Ecommerce marketing is an ever-changing discipline. What works one year may not work the next. The best ecommerce marketers are always studying the customer, the platforms and channels, and what their competitors are doing. We at CommerceNext understand better than most that
3、 you need data to better determine whether youre focusing on the right things. That was the intent with this report: to provide a useful benchmark by which online retailers can measure their own priorities and evaluate which technologies deserve a larger or smaller portion of the budget. For this re
4、port, “How Leading Retailers and Direct-to-Consumer Brands are Investing in Digital” we surveyed 100 top marketing decision-makers at leading brands in two major camps: the traditional retailers and multi-brand merchants that began as brick-and-mortar retail outlets and now also sell online; and the
5、 digital-first DTC brands who are transforming the entire ecommerce industry. The research tells us that both traditional and DTC brands point to acquisition marketing, personalization and gaining a unified view of the customer as key prioritiesand challenges. But the survey also delineates the diff
6、erences in how these two camps invest in tools and roll out initiatives around these priorities. We hope these findings inspire you to closely evaluate your marketing priorities for the rest of the year, including the upcoming holiday shopping season. We look forward to diving into a deeper conversa
7、tions about the results of this survey with you at CommerceNext, July 31-August 1 in New York City. Dont forget to check out our CommerceNext blog as we get closer to the big event for real-time updates on the speakers and the full agenda. 3 TABLE OF CONTENTS LETTER FROM COMMERCENEXT EXECUTIVE SUMMA
8、RY METHODOLOGY PART I: THE CHANGING LANDSCAPE OF DIGITAL COMMERCE Page 2 Page 4 Page 6 Page 8 PART II: THE CHASM BETWEEN DIGITAL-FIRST DTC RETAILERS AND TRADITIONAL BRANDS Page 18 PART III: AN EYE TO THE FUTURE: MARKETING INVESTMENTS FOR THE 2019 HOLIDAY SEASON Page 27 4 EXECUTIVE SUMMARY Digital re
9、tail marketers today face an endless number of priorities and initiatives when it comes to investing in the technologies, channels and strategies to grow their businesses. Every year, the debate rages on: marketers know that the emphasis should be on acquiring new customers, but how much focus shoul
10、d be on retaining the ones they have? And while all ecommerce marketers agree that personalization is the key to attracting and retaining customers, what are the right tools to enhance personalization? Investment decisions are never easy, and marketers are feeling the pressure like never before to m
11、ake the right choices, execute quickly and show results. In fact, 30% of our survey respondents admitted that “executing quickly enough on marketing initiatives” was a top barrier to achieving their ecommerce marketing goals in 2018, and 42% expect this to be a barrier in 2019. A 2017 survey of U.S.
12、 marketers by Walker Sands Communications and Chief Marketing Technologists found that 29% of respondents believed their company had not invested the right amount in marketing tech in 2016.1 This CommerceNext survey, sponsored by Oracle Customer Experience (CX) Cloud, was conducted to provide a benc
13、hmark by which digital retailers can compare their investment levels and product priorities to those of their peers. The results reveal how the new generation of digital-first DTC brands are leading a shift with more investment in acquisition marketing, as well as technologies like AI-driven persona
14、lization and customer data platforms. The report provides valuable information, gleaned from senior marketers at the worlds top-performing brands, to help inform technology decision-making in 2019 and beyond. It also provides a comparison between how traditional retailers with both ecommerce website
15、s and physical stores are approaching investments compared to their digital-first DTC counterparts. 5 KEY LEARNINGS INCLUDE: Comparing 2018 to 2019, ecommerce marketing budgets are on the rise across all retail business models; however, digital-first DTC brands are increasing budgets at a higher rat
16、e. In 2018, 81% of ecommerce marketers cited acquisition marketing as their top priority. Satisfied with the results of their investments, marketers are spending even more on acquisition in 2019. Most marketers are not satisfied with their efforts to create a single view of the customer and personal
17、ize the customer experience. In 2019, the top innovation investment priority for all ecommerce marketers, regardless of business model, is in customer data platforms. Digital-first DTC brands are approaching marketing spending differently than traditional retailers with brick-and-mortar locations. F
18、or example, DTC brands are passing over the use of promotions in favor of other channels such as programmatic TV to attract new customers. For the 2019 holiday season, brands across the board are increasing their investment in technology to enable personalization, such as AI and customer data platfo
19、rms. Digital native brands are earmarking more budget for these investments than their traditional retail competitors. This holiday retail season is projected to be even bigger for ecommerce brands than last year. As we head into the 2019 holiday shopping season, use this benchmark report to evaluat
20、e your investment priorities and make adjustments as needed. 6 METHODOLOGY The breakdown of respondents by annual online revenue. $50 million to $99 million Less than $10 million $10 million to $49 million $500 million+ $100 million to $499 million 19% 22% 8% 26% 25% Our 12-question online survey po
21、lled 100 digital retail senior leaders. Of the 100 participants, three were selected for follow-up interviews that examined in more detail the impact of investments on their 2019 marketing plan. RESPONDENTS BY REVENUE 7 RETAIL BUSINESS MODEL OF RESPONDENTS The breakdown of how these retailers sell t
22、o consumers: RESPONDENTS BY TITLE Head of Ecommerce/Ecommerce Leader Chief Marketing Officer/Head of Marketing Marketing Director/Marketing Leader Chief Digital Officer Other * 31% 20% 19% 9% 7% *Other includes such titles as Head of Data however, brands still need to master the fundamentals. Succes
23、sful personalization starts with reliable, holistic customer data that is accessible to the marketer. Across the board, ecommerce marketers are not satisfied with their efforts to create a single view of the customer and personalize the customer experience. Charlie Cole, Chief Digital Officer of the
24、 Tumi + Samsonite brands, reflects on his experience of creating a unified view of the customer. “Weve done a great job on personalization with people we know, using first-party data on existing customers. The thing were still exploring is how to execute on marketing to people we dont know, with sec
25、ond or third-party data. Our next evolution at Samsonite is to graduate to a phase where there are 100 different versions of our website depending on who lands there. Personalization will help us get there.” Charlie Cole Chief Digital Officer, Tumi + Samsonite Given this struggle to achieve a unifie
26、d view of the customer, its no surprise that in 2019, the top two innovation investment priorities for all ecommerce marketers, regardless of business model, is in customer data platforms and personalization technology. We found that 65% of respondents have increased budget in 2019 on customer data
27、platforms (CDP) and 52% are increasing investment in personalization technology: 13 Q: How will your marketing department invest in each of the emerging technologies listed below in 2019 compared to 2018? Decrease in investmentSame level of investmentIncrease in investmentNo investment 1% 2% 2% 2% 3
28、% 3% 25% 22% 22% 17% 30% 35% 22% 17% 65% 45% 52% 34% 47% 16% 13% 15% 9% 31% 24% 47% 20% 49% 62% 63% 1% 2% 2% 2% 3% 3% 5% Customer data platform Chatbots executing quickly enough on marketing initiatives (30%); the inability to get a unified view of the customer (27%), and aging technology systems (2
29、3%). Q: In 2018, what were your greatest barriers to achieving your ecommerce marketing goals? Managing integrations of technology solutions across the marketing stack 39% Executing quickly enough on marketing initiatives 30% Inability to get a unified view of the customer 27% Aging technology syste
30、ms 23% Finding and retaining top talent 22% Org structure misalignment 19% Lack of consistency across customer touchpoints 19% Achieving profitability in scale 18% Securing budget approval from the C-suite 15% Managing omnichannel marketing initiatives 9% Attribution 7% Managing mobile ecommerce 5%
31、Determining ROI on technology investments 21% THE NEED FOR SPEED: MARKETERS NEED TO EXECUTE FASTER AND INTEGRATE THEIR TECH STACK 16 Its no surprise that brands are grappling with the complexities of technology integration across the marketing stack. The sheer volume of marketing technology solution
32、s expands yearly. The average marketing stack consists of applications and platforms to manage CRM, marketing automation, personalization, social media marketing and management, and so on. Getting the various point solutions to work together is a tall order that often takes longer than expected. Ang
33、ela Hsu, Senior Vice President of Marketing and Ecommerce for Lamps Plus, notes that managing integrations involves several data sources across an ever- growing number of channels. “Obtaining a unified view of the customer remains a tremendous but worthwhile challenge that provides numerous benefits
34、 from customer satisfaction to minimizing costs and simplifying business processes. Multiple devices, walled gardens like Facebook, and disparate systems (external and internal) have created a fractured customer view. Linking all of this data together to get a better understanding of our customer is
35、 key.” Angela Hsu SVP Marketing however, we can see that other challenges are creeping up in importance. For example, “Achieving profitability at scale,” at 25% for 2019, has replaced “inability to get a unified view of the customer” (now at 21%) in the top three barriers for 2019. Nonetheless, mark
36、eters will need to ensure their efforts are able to profitably deliver on a strong customer lifetime value to combat these challenges. Q: In 2019 what do you expect your greatest barriers to be in relation to achieving your ecommerce marketing goals? Executing quickly enough on marketing initiatives
37、 42% Managing integrations of technology solutions across the marketing stack 30% Achieving profitability at scale 25% Org structure misalignment 23% Finding and retaining top talent 22% Inability to get a unified view of the customer 20% Securing budget approval from the C-suite 19% Managing omnich
38、annel marketing initiatives 19% Aging technology systems 17% Lack of consistency across customer touchpoints 11% Managing mobile ecommerce 21% 9% Attribution 5% Determining ROI on technology investments However, for 2019, managing tech integrations is less of an expected barrier than in the previous
39、 year. Instead, 42% of retail marketers are more focused on executing more quickly: 18 PART II: THE CHASM BETWEEN DIGITAL-FIRST DTC RETAILERS AND TRADITIONAL BRANDS Theres little doubt that digital-first, DTC brands have shaken up the ecommerce industry and displaced some traditional brands. With th
40、eir “avoid the middle- man” approach, lack of aging legacy technologies, and obsession with data, digital-first DTC brands are wooing consumers away from traditional retailers and legacy ecommerce brands alike. This is happening even in categories that have been difficult to convert online, such as
41、furniture, mattresses and other high- ticket items. For example, DTC “bed-in-a-box” brands have doubled their U.S. market share since 2016 to about 10%, while an incumbent mattress brands such as Tempur Sealy, with their own chain of brick-and-mortar outlets, recorded an overall decline in sales of
42、4.6%.2 Consumers have more than doubled the amount of time they spend on DTC brands websites over the last two years.3 DTC brands have established themselves in the U.S. and are now setting their sights on global targets, including China.4 There are an estimated 22,000 companies in the digital-first
43、, DTC retail category and this number increases every year.5 Some are even experimenting with setting up brick-and-mortar outlets, in a time when incumbent brands are struggling for in- store foot traffic. For the purposes of our research, we have defined DTC brands as an ecommerce retailer created
44、in the digital age that sells directly to its consumers via its own online channels, whether through subscriptions or other sales, while seeking to provide an end-to-end brand experience. Some of the more mature brands in this space may now have physical stores or pop-up retail outlets, but they wer
45、e founded as online outlets and the majority of revenue comes from online customers. The respondents in our survey self-identified as digital-first brands. Digital-first trailblazers are spending more, and diversifying their marketing strategies 19 DTC BRANDS ARE OUTSPENDING TRADITIONAL RETAILERS Ec
46、ommerce marketing budgets are generally on the rise among all brands, but its worth noting that digital-first DTC brands are spending more than their counterparts. In 2019, DTC brands marketing budgets were a larger percentage of their companies annual online revenue: Q: Using your best estimate, wh
47、at is your 2019 ecommerce marketing budget as a percentage of your companys annual online revenue? TRADITIONAL RETAILERS DTC brandsTraditional retailers 0% 10% 20% 30% 40% 50% Less than 1%1% to 4%5% to 9%10% to 19%20% to 29%30+% 20 Digital-first DTC brands have increased their 2019 marketing budget
48、more than incumbent brands have: Q: In 2019, how has your ecommerce marketing budget changed when compared to 2018? In 2019, DTC brands are increasing their marketing budgets at a higher rate than incumbent retailers - 78% indicated that their 2019 budget is higher than the one they had in 2018. Tha
49、ts a dramatically higher rate than traditional retailers whose budgets increased (60%). Fewer DTC brands decreased their budgets as well: 7% compared to nearly 11% of traditional retailers. DTC brandsTraditional retailers Decrease in budgetSame budget as last yearIncrease in budget 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 21 FREE FROM AGING TECH, DTC BRANDS FOCUS ON PROFITABILITY Founded on principles such as data-driven decisions, nimbleness, customer- centric operations and experimentation, DTC brands are evolving rapidly. Fueled by venture capital investment, these