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Lack of Structure, Internal Skills and Partnerships Found as Second Most Common Shortfalls in Marketing Technology Utilization
NEW YORK, Oct. 14, 2013 /PRNewswire/ -- The value that digital marketing technology brings to business has long been proven. Today, Qubit, the Customer Experience Management (CXM) leader, released the findings of the August 2013 commissioned study ("Digital Technology: The Organizational Quandary," conducted by Forrester Consulting on behalf of Qubit) that explores the role of the growing multitude of digital marketing technologies in firms today. Conducting in-depth surveys with 185 digital marketing decision makers from the US and UK, Forrester found that organizations understood the value of their marketing technology assets. However, more than half of the survey respondents reported that their businesses were hurt by ineffective, redundant usage of the variety of tools employed in an effort to better engage with consumers.
According to the study, a staggering 63% of companies own marketing technology that goes unused, and 72% believe these technologies which they employ overlap in their capabilities. Aside from the added costs of licensing technologies with similar or overlapping feature sets, the study also found that 57% of marketers feel that despite these overlaps, gaps still remain in their multi-channel campaign executions. Yet with a fragmented marketplace, and despite the constant shortfalls of solutions on the market, over half of respondents recognize the two most critical needs today are to optimize the digital customer experience overall (50%) and deliver a consistent and improved experience across all channels (36%).
"Businesses have enlisted too many optimization technologies and often don't have the correct skills, organizational structure or partnerships to manage them, which ultimately leads to lost revenue," said Graham Cooke, Qubit CEO. "Finding a single platform with the broadest definition of 'open source' standards, that affords marketers and retailers the ability to customize the platform with the features that work best for them, but also results in the best services provided to their customers, is at the heart of effective real-time retailing today."
To view a copy of the full study, visit here.
For more information about Qubit and its solutions for Customer Experience Management, please visit www.qubitproducts.com.
Qubit empowers businesses to better serve their customers by connecting and enabling fast, informed, and rewarding experiences around what matters most and drives conversions. By better allowing users to act on historical and real-time customer insights, make web optimizations and messaging updates in real time, Qubit is shifting the role marketers and ecommerce professionals play in better positioning their brand reputations.
Qubit's products collect huge amounts of information about users' interactions with a website and analyze this to identify patterns of behavior. They then use this understanding to deliver live personalizations, driving improved conversion rates and increased customer satisfaction.
The company's suite of products brings together visitor analytics, tag management, AB testing and personalisation within a single integrated platform. This allows marketers to optimize and test websites in real time, without the need for specialist IT resource, helping to drive rapid and sustained ROI.
Founded in 2010 by four ex-Googlers, Qubit is headquartered in London with offices in New York. Qubit works with some of the world's leading ecommerce businesses, including Topshop, Uniqlo, L.K. Bennett, Staples, John Lewis, Farfetch and Harveys Furniture. The company received $7.5 million funding from Balderton Capital in December 2012.
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