A new study has highlighted the scale of disruption brought by emerging technologies on established brands, with 95% reporting marketing challenges as a result.
New techniques such as AI-based search are forcing marketers to adapt their strategies with only a rarefied few successfully making the transition, with the vast majority left out of step with this new normal.
The research, Brand Control in the Age of AI, compiled by digital knowledge platform Yext, collated the views of 400 US marketers to alight on its findings.
These include the striking fact that a mere 8% of marketers had confidence in the complete effectiveness of their company’s brand management strategy, with respondents concerned that just 35% of their brand information in the digital realm is correct.
As a consequence, 28% fret that they lack sufficient visibility on search engines. Overall just 6% reported having a fully comprehensive marketing strategy with the vast majority (81.3%) admitting they still had deficiencies to address.
Yext chief strategy officer Marc Ferrentino said: “This research helps us see where brands are excelling and where they’re struggling to catch up. What we’re seeing is that many businesses have a long way to go in providing perfect information and a great customer experience everywhere.
In fact, we found that brands believe only 35 per cent of the information about them available online is correct, on average. At the same time, brands everywhere are recognizing that taking control has serious revenue implications.”
Such issues come despite brands allocating 16.63% of global annual revenue to their annual marketing budgets.
Last year Yext partnered with Amazon Alexa to hand businesses full control over their data.
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