BETHESDA, Md., May 10, 2021 (Newswire.com) - MarketBridge announces the release of "A CMO's Guide to Land and Expand Success in the Subscription Economy," a Technology industry benchmarking report aimed at understanding the challenges, priorities, and go-forward actions of Technology Marketers as they transition to subscription solutions.
Based on surveying and interviewing some of the fastest-growing technology companies and industry leaders, MarketBridge was able to uncover the strategies businesses are taking to drive subscription revenue. The new report distills the most important priorities for Technology CMOs and their teams. From a tactical level, it reveals strengths, weaknesses, and needs in positioning, messaging, partner programs, customer experience, and post-acquisition analytics.
"Technology vendors have aggressively moved away from an on-premise hardware and software selling motion to a subscription-based recurring revenue model. This pivot has transformed how Marketers successfully reach, engage, and convert new buyers more than any other trend in the past 20 years," says Mike Kelleher, Senior Vice President of the Technology Sector at MarketBridge. "Our research shows that 73% of companies believe subscription models are significant or essential to success over the next two years, so we set out to understand how and why this move is causing complexity for marketers."
Select insights from the report include:
- 86% of companies say their marketing efforts have become more complex with the pursuit of subscription revenue
- Challenges range from aligning sales and marketing, adjusting investments, applying analytics, and penetrating new markets
- 50% of respondents are reworking channel programs and compensation while up-skilling partners
- 73% of respondents struggle with landing new customers, frequently as a result of the need for diverse, persona-based messaging
- 43% of companies plan to increase focus on measurement and analytics in the next 12 months
"Today's Tech Marketers are not just tasked at landing new clients but extending usage volume for active users and expanding subscription footprint," explains Brice Chaney, SVP of Accounts at MarketBridge. "This proves even more challenging as they navigate a growing set of stakeholders along with more data and intent signal than ever before; all of which can be used to inform marketing decisions. Our report covers just how complex marketing in this new economy really is but most importantly, the steps needed to drive competitive advantage."
Access the report here.
MarketBridge is the leading provider of rapidly scalable, innovative go-to-market solutions for Marketing, Sales and CX leaders. Our proprietary approach, Go-to-Market Science, uses analytics, insight, and data to drive revenue growth and customer value.
Katie Artz, Director of Marketing
Source: MarketBridge Inc.