Customer understanding 'top marketing strategy' in 2008

Customer understanding top marketing strategy for 2008-01-02 The new year will see a greater emphasis on customer understanding and engagement from Marketing professionals, according to a new study.

Research carried out by Next Level SMG found that 28 per cent of companies regretted their failure to invest more in identifying customer requirements in 2007.

Some 21 per cent said they hadn't branched out from familiar marketing tactics but in 2008, 18 per cent said they planned to take more risks with online and offline marketing strategies.

For 16 per cent of the firms polled, creativity in reaching out to target audiences was a priority over the coming year.

"The study sheds light on the key growth strategies pursued by marketers in 2007, provides candid assessments of what marketers could have done better in 2007, and what strategic initiatives they are planning for 2008," the report said.

A recent study from Marketing Charts revealed that 79 per cent of business-to-business marketers intend to increase spending on Online Marketing in 2008.

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