Marketing is a battle of resources and data, with the latter informing how the former are used at all times. As the economy is picking up better than previously projected, a number of marketing executives are finding that the deep cutbacks of last year are resulting in budget surpluses going into the last half of 2011. So where should you invest the money for the best ROI?
A recent KPMG survey found that retail executives, at least, are choosing to put their money on better analytics over expansion. 47% of respondents said they plan to invest in back-end information technology. With more than 70% of executives reporting that cash-on-hand is above forecasts, they’re opting to invest for long-term potential by improving their understanding of consumer behavior, with the expectation that resources can be better directed in the coming months if they have better data.
If you’re one of those folks with more cash than information at your fingertips, consider the effectiveness of learning more about your consumers, and how to handle them, to give you a boost for your next marketing fiscal cycle.