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80 % of marketers rank customer satisfaction as top priority
New research by Precis Digital , and leading global research company , Forrester Consulting , has found that 80 % of marketers rank customer satisfaction as the number one most important outcome for their marketing programmes . However , only 49 % indicate that they would go beyond what regulations require to adopt more ethical marketing practices for the customer .
In a survey of over 150 senior marketers , respondents shared their strategies and challenges in relation to data privacy , consumer expectations , transparency , algorithmic bias and inclusivity and representation in advertising .
According to the report , marketing ethics is a high priority in many marketing departments , with more than two-thirds ( 67 %) of the respondents stating that marketing ethics helps to achieve the dual objective of building customers ’ trust and driving long-term performance . More than three-quarters ( 76 %) go as far as to say that they are making marketing ethics a high or critical priority for their organisation . But even though the respondents state they have ethics as a high priority , the study also shows that they struggle to do what it takes to live up to their own ethical ambitions .
As the marketing industry has become more technologically advanced , the complexity faced by marketers has also increased . If brands want to get their message heard , they are largely dependent on the ad-tech industry to reach their audiences . Criticism has mounted in recent years , both within and outside the industry , about the increasing reliance on models and algorithms in ad-tech . Designed to increase performance and efficiency , the models are often ' black-box ' ( not transparent in their exact workings ) – a fact that more and more advertisers are starting to worry about as they fight to tighten up their understanding of data flows and how users are targeted with adverts .
According to the study , this is at the top of mind for many marketers . More than three in five ( 63 %) say that they struggle to reduce bias in models , citing explainable AI and so-called black-box models as important topics . The topic is even the most popular priority moving forward . Eight in 10 marketers ( 80 %) answer that reducing bias in advertising models is a main priority for their company in the upcoming 12 months .
“ Complying with current regulatory standards is far from enough ,” said Rhys Cater , Managing Director , Precis London . “ If you want to make marketing a good experience for the consumer , it requires a concerted effort to make all engagements with marketing positive and fair , to treat data with integrity and act transparently .” x www . intelligentcxo . com
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