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Mind Wide Open: A wake-up call to Slovenian marketing

Together with the partners Pristop conducted Mind Wide Open research about the state of marketing in Slovenia.

At Pristop, highly qualified experts assist the customers in creating a competitive advantage for several years now. Together with our partners we designed and implemented the first Slovenian research of its kind MWO, and invited 350 Slovenian companies, which recognize the function of marketing and who at the same time significantly co-shape the Slovenian economy, society and the environment, to participate. 120 companies whose revenue is at least 3 million euro and have at least 50 employees have responded.

The most successful Slovenian companies understand the role of strategic marketing in company’s business operations.

Their marketing activities are as regularly as possible measured with business, sales and communications metrics and thus successfully display the added value that marketing creates in the company. Among the respondents there are unfortunately only 29 % of such companies which we call winners. The others are still looking for the right combination of knowing the buyer and the impact on the four P’s of marketing. In most companies, the use of new technologies is still in its early stages, however, the fact that half of the respondent companies measure the efficiency of digital marketing is certainly pleasing. The vast majority of company’s directors (81%) expect explanations for investments into marketing, but only a third of marketing directors actually calculate the return on marketing investment (ROMI).
The results have shown that less than half of respondents are prepared for challenges of the digital marketing environment, while almost half of the surveyed (49%) are prepared for the multichannel approach in marketing. Unfortunately, half (50%) of them are still not aware of the impact of social networks on a brand. Slovene companies are still slightly reluctant towards the use of new technologies, since mobile advertising is used by less than a third of respondents (30%), and mobile applications by 38 percent of them. The management of online campaigns is used by a third of respondents, and predictive tactics by 26 percent of them. Despite the fact that the vast majority of marketing directors expect explanations for investments into marketing, less than half of respondents (49%) measure the efficiency of digital marketing. Furthermore, one cannot overlook the fact that the most frequently used matrix for measuring the efficiency is sales (92%), followed by customer satisfaction and market share (both 74%).

The following year, the MWO shall expand to the South-east region

The most recent research Mind Wide Open, MWO for short, is this year implemented for the first time in Slovenia. In the research, the minds were wide open by the practice, the experts and the academia, since the research is the result of productive cooperation and knowledge of Pristop and the company Bisnode, the Faculty of Economics in Ljubljana and the DMS. However, the MWO is not yet completed with the obtained answers because next year it is expanding to the region of South-eastern Europe, whereby the Slovenian knowledge and marketing profession shall be examined of its identity and development once again.