39% of Marketers Cite Lack of Data as a Top Marketing ChallengeMarketing has reached a point in its growth where the concept of marketing measurement isn’t an “if,” but rather a “when” and a “how well.” Big Data is already a popular topic of discussion, so metrics aren’t an abstract idea known only to some. Yet in Ifbyphone’s 2013 State of Marketing Measurement Report, 39% of marketers cited lack of data as one of the top challenges faced by their organization.
At first glance, this paints a different picture of the state of marketing measurement than we were expecting from what seems to be such a data-centric zeitgeist. But if you look at the rest of the report, things make a little more sense.
39% of marketers cite lack of data as a top marketing challenge. Another stat in the report states that 45% of those marketers also report increased marketing budgets. Big deal, right? It’s not really, until you look at one more piece of data from the report: 20% of marketers report plans to invest in marketing automation solutions, and another 20% report plans to invest, more specifically, in voice-based marketing automation solutions. One more telling stat? Another angle the marketing report tells us is the importance of the growth hacker to marketing teams, whose sole purpose is to generate growth from data and technology. 25% of marketing teams now have one, and more want one.
So what does all this tell us?
It tells us that data is hot, and it’s not cooling off.
Look at the data. First we have marketing teams that complain of too little data. Then we see an increase in marketing budgets. Then we see plans to invest in marketing measurement technology, as well as a rise in the number of marketing organizations who have a growth hacker.
The pattern is clear: metrics and data are musts, and more and more marketing teams are realizing this is one trend that they can’t stay on the sidelines for. If you’re ahead of the curve and are already using voice-based marketing automation tools to close the gaps in your marketing strategy, rest easy. If not….you might want to download the 2013 State of Marketing Measurement Report to see what your marketing peers are planning.
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