Sydney, Feb. 15, 2024 – Sitecore®, a global leader in end-to-end digital experience software, today unveiled an Australian research report in tandem with Deloitte Access Economics and Deloitte Digital which estimated that large businesses that collaborate internally between marketing and technology teams and align to business objectives gain productivity benefits of an average AUD$110 million per year.

The ‘Digital Bridge Building’ report surveyed 300 marketing and technology leaders in Australia. The research showed that collaboration between marketing and technology functions is critical to making the most of digital investments. When collaboration is centred around customer needs, businesses leading the way in collaboration forecast an additional 11% revenue growth in the next year.

One watch-out highlighted in the report warned that a major challenge to success was that bad projects require more management time to course correct, resulting in diversion from other business matters. The survey found that 62% of business leaders who experienced negative impacts of technology investments saw this as a problem. Key challenges mentioned by survey respondents included integration difficulties, money wastage, and loss of innovation.

Joey Lim, Sitecore’s APAC and Japan president said: “Challenges to collaboration can make the case for further digital investment difficult and add to executive resistance to transformational initiatives. Sitecore’s commitment to offering choice through its leadership in both on-prem and SaaS digital experience software uniquely places it as a powerful collaborator when overcoming internal resistance by offering multiple solutions that merge marketing and technology.”

According to the report, the top two priorities for business leaders over the next five years are scaling existing digital solutions and broader digital transformation. Surprisingly, these priorities rank higher than traditionally important objectives like revenue generation and customer retention. Of the business leaders surveyed, 98% consider digital investment pivotal to business strategy.

The report recommends that business leaders should develop co-investment strategies to overcome budget barriers, remove organisational barriers to promote collaboration, align marketing and technology teams on business strategy and priorities, and create clear, structural accountability for shared focus areas. 

Adds Lim: “Sitecore can help brands unlock the potential $110M AUD that is on the table. As a digital experience software provider with years of leadership and understanding in the space – and one that boasts an extensive partner network with focused experience overcoming internal and stakeholder blocks to innovation, Sitecore is uniquely placed to help brands achieve success. We look forward to working with brands to understand the impact innovation can have on their customer experience provision and the benefits that marketing and technology collaboration can provide in helping firms become more agile and engaging now and into the future.”

Troy Outtram, Partner at Deloitte Digital says: “As brands continue to invest in their digital transformation, the benefits for teams that work in harmony are becoming more apparent, with ruthless alignment to the businesses goals the key to success for major projects.”

The report can be downloaded here. 

About Sitecore

Sitecore is a global leader of end-to-end digital experience software. Unifying data, content, commerce, and experiences, our SaaS-enabled, composable platform empowers brands like L’Oréal, Microsoft, and United Airlines to deliver unforgettable interactions across every touchpoint. Our solution provides the cutting-edge tools brands need to build stronger connections with customers, while creating content efficiencies to stand out as transformation and innovation leaders. Experience more at sitecore.com.

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