What is the Marketing Gap?
In the ideal world of marketing, the consumer and the marketer are of the same mind. In other words, there are no gaps in the marketer’s understanding of what, when and how their consumers use, perceive and react to the product or to marketing stimulus.
Yeah…well, that’s in an ideal world.
In the real world, marketers are often playing catch-up to their audiences. Sometimes, what marketers think is going to be a home run actually turns off their customers and prospects. It happens.
The marketing gap is the distance between you, the marketer, and your customers.
But the speed with which today’s market is moving, it makes it harder and harder to keep on top of one’s audience and to have a strong understanding of how new strategies will impact consumers or have the desired impact.
When in doubt, turn to research. It can help to fill-in the informational gaps.
That’s what the Economist Intelligence Unit (EIU) did. It partnered with Lyris to determine the digital marketing trends and to identify the marketing gaps. Specifically, these companies wanted to identify what truly influences consumer purchase and how they prefer to engage with brands. They then compared the consumer data to what various marketing executives ‘think’ consumers want.
The research included over 400 consumers and over 250 marketing executives. Study results identify some alarming gaps and misunderstandings that can greatly impact marketing efforts.
Among consumers, the study showed:
- The most important channel to influence the purchase decision for consumers is email.
- Most consumers view email personalization as superficial.
- Many consumers are very concerned about online privacy.
Yet marketers have a completely different perspective of these issues. Take a hard look at the infographic below to see the marketing gaps.
If you want an edge on your competitors, simply start filling-in the GAPs.
You can find a complete summary of these marketing studies here.