data driven marketingAs we mentioned in a recent post, marketing can’t really survive without data. It’s how you figure out what works and what doesn’t, and how you prove those findings to the rest of your company. I think marketers are starting to figure that out, or it’s becoming more important to them, because we can’t seem to stop talking about data.
But data is still a big problem for online marketers. And as we know, the first he first step to solving any problem is identifying it. That’s why I was glad to notice an email about a month ago with the subject line “New study: Marketers disconnected from data.” I normally gloss over this type of email, but I knew this one should have some interesting insights, and it did.
The study was on the state of data-driven marketing in 2013, conducted by Domo, a SaaS business intelligence company, and addressed all kinds of problems with marketing data that marketers are having, from knowing how to prove ROI to finding the time to take a look at reports.
Here are a few of the statistics from the study, which surveyed over 300 marketers, that stood out to us:
- When asked to grade their relationship with data, marketers averaged a B-
- Only 34% feel they can handle the volume of marketing data available for analysis without feeling overwhelmed
- One third of those surveyed checked business intelligence solutions daily, making it the most frequently checked data source
- Most marketing data sources aren’t checked daily
- 69% of participants said they would consume more marketing data if they had more time to analyze it
- 66% of participants agreed they would consume more marketing data if they could see it all in one place
- 87% of marketers surveyed agreed that they rely on data to do their jobs well
- Only 45% reported that they have access to the marketing data they need
- Half of the participants said their marketing reports lack key information
- 40% of marketers surveyed stated that ROI is missing from their marketing reports
- 89% of participants felt it important to see marketing data from all sources in a single dashboard
- 62% of marketers are frustrated by how long it takes to create reports on marketing data
- Email is the most popular method for sharing marketing data
- Only 33% of participants have access to marketing contribution to revenue, even though 82% are held accountable for ROI on marketing spend
- 3 out of 4 marketing executives are unable to calculate social media ROI
What are your data problems as a marketer? Share in the comments!
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