Leaders at the top of the company find marketing analytics data credible.
Vancouver, BC (PRWEB) May 15, 2013
Demand Metric, a marketing advisory firm, announces the release of a report that summarizes its recently completed study on marketing analytics, Marketing Analytics 2013: Benchmarks, Insight and Advice.
In April 2013, Demand Metric conducted a benchmarking study to examine how marketing analytics is being adopted, adding value, and becoming integrated into overall marketing strategy. A survey was used to collect data, and its analysis provides these key findings:
- North American organizations lead the rest of the world in meaningful marketing analytics initiatives
- Large organizations are having more marketing analytics success than SMBs.
- Those who are allocating greater portions of marketing budgets are getting more from their analytics initiatives.
- Analytics data is largely staying inside the marketing department.
- CEOs, presidents, SVPs and business owners have a significantly higher opinion of the credibility of marketing analytics data than do members of the marketing organization.
The study indicates that there is almost universal recognition of the value of marketing analytics, regardless of how effectively an organization is using them. At the same time, most organizations are experiencing challenges where marketing analytics are concerned, and small organizations are experiencing different challenges than large ones.
What’s also clear from the study is that organizations that spend more are getting more, claiming the greatest impact and highest credibility from their marketing analytics efforts. These same organizations are also claiming to make more data-driven decisions as a result.
The report further reveals a troubling divergence of opinion exists between marketing teams and the CEOs, SVPs, Presidents and Owners that lead their organizations. In one area – the challenge of identifying and tracking meaningful analytics – the C-suite respondents recognized this as a far greater challenge than the marketing teams that serve them. In two other areas – transparency and sharing of data, and perception of credibility – the C-suite had a much higher estimation of success than did their marketing teams.
“We believe the results of this benchmarking report are telling us that the barriers to greater success with marketing analytics are largely cultural,” says Jerry Rackley, chief analyst for Demand Metric. “Had this study examined the relationship between the marketing organization and the C-suite, we believe that organizations where trust, empowerment and good communication exists between these groups, marketing analytics are playing a key role in driving and measuring results. Conversely, where there is friction, distrust or poor communication between marketing and the C-suite, we suspect if marketing analytics are used at all, they are used punitively.”
“The study makes clear is that the leaders at the top of the company find marketing analytics data credible,” concludes Rackley. “The issue for marketers is how to best leverage the credibility of this data to improve how marketing communicates with their organization’s leadership. Marketers who do this best understand that marketing analytics is as much about communications as it is about calculations.”
Benchmarking Study Availability
The report, Marketing Analytics 2013: Benchmarks, Insights and Advice is available now on the Demand Metric website.
About Demand Metric
Founded in 2006, Demand Metric is an advisory firm serving a membership community of over 30,000 marketing professionals and consultants in 75 countries with access to consulting methodologies, advisory services, training and a library of over 500 premium marketing tools and templates. Demand Metric resources enable members to complete marketing projects more quickly and with greater confidence, boosting the respect of the marketing team and making it easier to justify resources the team needs to succeed.
Demand Metric members range from start-ups to consulting firms to members of the Global 1000. To learn more about Demand Metric, please visit: http://www.demandmetric.com.