Data-Driven Marketing Survey, by Domo

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Data-Driven Marketing Survey, by Domo

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As a marketer, you’re busy. We get it. You have a lot of priorities to juggle: ...

As a marketer, you’re busy. We get it. You have a lot of priorities to juggle:

• How many leads are you bringing in?
• Which channels are providing the most leads?
• Is your budget running low?
• How are leads converting down the funnel?
• How can you get the most accurate measure of ROI?

At every turn, you need data—and lots of it. But in the past decade alone, marketers’ trouble with data has gone through a dramatic shift: instead of being too difficult to obtain, data is now too difficult to maintain.

In fact, IBM reports that 71% of CMOs feel unprepared to handle today’s “data explosion,” saying that “most CMOs are struggling in one vital respect—providing the numbers that demonstrate a return on investment (ROI) for marketing.”

This survey report reveals marketers’ troubles and successes with data, and it reveals important trends that are defining the data-driven marketer.

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  • This is very well presented! It's sad to know that only 33.33% are using business intelligence tools which really help in understanding data. As a provider of data visualization through mapping, we at Mapline encourage the use of BI tools to help organizations make informed decisions from their data.
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  • 1. As a marketer, you’re busy. We get it. You have a lot of priorities to juggle: • How many leads are you bringing in? • Which channels are providing the most leads? • Is your budget running low? • How are leads converting down the funnel? • How can you get the most accurate measure of ROI? At every turn, you need data—and lots of it. But in the past decade alone, marketers’ trouble with data has gone through a dramatic shift: instead of being too In fact, Forrester Research reports that 49% of marketers cite the use of analytics to guide marketing decisions as the biggest weakness of their marketing organization. This survey report reveals marketers’ troubles and successes with data, and it reveals important trends that How We Did It… Our survey sample included 301 respondents. You can read more about our methodology at the end of the report, or click here to read it now. DATA-DRIVEN MARKETING SURVEY *Results based on Q4 2013 survey data.
  • 2. RELATIONSHIP WITH DATA Marketers’ impressions of how data applies to their daily routine
  • 3. MARKETERS GIVE THEMSELVES A PASSING GRADE. When asked to grade their relationship with data, marketers averaged a
  • 4. DESPITE GRADING THEIR RELATIONSHIP WITH DATA AS A B-, PARTICIPANTS ARE STILL CONFIDENT IN THEIR GENERAL MARKETING ABILITIES. Here’s how participants responded to the statement, “I’m confident in my abilities as a marketer”: 44%STRONGLY AGREE 46%AGREE 8%DISAGREE 2%STRONGLY DISAGREE
  • 5. MARKETERS THINK THEIR CEOS ARE CONFIDENT IN THEIR ABILITIES. Here’s how participants responded to the statement, “My CEO is confident in my abilities as a marketer”: 35%STRONGLY AGREE 54%AGREE 11%DISAGREE 0%STRONGLY DISAGREE
  • 6. ALMOST TWO THIRDS OF MARKETERS ARE OVERWHELMED BY THE AMOUNT OF DATA THAT’S AVAILABLE FOR ANALYSIS. Here’s how participants responded to the statement, “I am able to handle the volume of marketing data that’s available for analysis without feeling overwhelmed”: 6%STRONGLY AGREE 28%AGREE 48%DISAGREE 18%STRONGLY DISAGREE
  • 7. MOST MARKETING DATA SOURCES AREN’T CHECKED DAILY. Of the participants that report checking the following data sources, here’s the percent that report checking them daily: 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Business Intelligence Solutions 33.33% CRM 26.40% Marketing Automation 25.45% Social Media 23.95% Pay-Per-Click (PPC) Advertising 23.47% Other 20.00% Affiliate Marketing 15.79% Web Analytics 14.38% Corporate Blog 14.13% Banner Advertising 11.76% Email Marketing 9.47% Surveys 5.69% Webinar Platforms 5.19% Video 3.88%
  • 8. ACCESS TO DATA How well marketers can access the data they use to make decisions
  • 9. 69% of participants agreed they would consume more marketing data if they “had more time to analyze the data.” 66% of participants agreed they would consume more marketing data if they “could see it all in one place.” 44% of marketers agreed they would consume more marketing data if they “had more time to collect the data.” 40% of marketers agreed they would consume more marketing data if they “could see it on any device.” 40% of marketers agreed they would consume more marketing data if they “could see it in real time.” TOP 5 REASONS MARKETERS AREN’T CONSUMING MORE DATA
  • 10. MARKETERS RELY ON DATA TO DO THEIR JOBS WELL—BUT THEY HAVE A HARD TIME GETTING THE DATA THEY NEED. Here’s how participants replied to the statement, “I rely on marketing data to do my job well”: Here’s how participants replied to the statement, “I have access to the marketing data I need”: Strongly Agree Agree Disagree Strongly Disagree 28% 59% 11% 3% 7% 38% 46% 9%
  • 11. MARKETERS FEEL THAT IT’S IMPORTANT TO HAVE ACCESS TO REAL-TIME MARKETING DATA—BUT THEY AREN’T GETTING IT. Here’s how participants replied to the statement, “It is important to have access to real-time marketing data”: Here’s how participants replied to the statement, “I can access the marketing data I need in real time”: Strongly Agree Agree Disagree Strongly Disagree 26% 57% 15% 2% 5% 32% 50% 13%
  • 12. MANY MARKETING REPORTS LACK KEY INFORMATION—INCLUDING ROI. agreed with the statement, “The marketing reports I receive lack key information.” Of those lacking key information, 40% state that ROI is one of the missing pieces.
  • 13. MARKETERS ARE MISSING A WIDE ARRAY OF INFORMATION IN THEIR REPORTS. When asked what information was missing from their reports, marketers provided their own written feedback. Here are the top responses: ROIREAL-TIME DATA NEED MORE DETAILS CONSISTENCY SALES INFO LEAD FUNNEL CONVERSION RATES DEEPER ANALYSIS CUSTOMER DATA CAMPAIGN-SPECIFIC RESULTS CLOSED LOOP MARKETING INFO MARKETING CONTRIBUTION TO SALES REVENUE FROM MARKETING ACTIVITIES DETAILS ON SEGMENT PERFORMANCE INCREMENTAL VOLUME A/B TESTING RESULTS
  • 14. MARKETERS WANT THE FREEDOM TO ACCESS DATA ON ANY DEVICE THEY’RE USING. Here’s how participants responded to the statement, “It is important to have access to marketing data on all my devices (e.g., computer, tablet, phone)”: STRONGLY DISAGREE: 3.5% AGREE: 44.22% STRONGLY AGREE: 23.11% DISAGREE: 29.14%
  • 15. MARKETERS WANT TO CONSUME DATA ON MOBILE DEVICES MORE OFTEN THAN THEY CURRENTLY DO. Here’s the comparison between the percent of time participants currently consume data on the following devices, and the percent of time they would ideally consume data on those same devices: 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 83% CURRENTLY 66% IDEALLY 7% CURRENTLY 20% IDEALLY 10% CURRENTLY 14% IDEALLYSMARTPHONE TABLET DESKTOP/LAPTOP
  • 16. MARKETERS FEEL THAT IT’S IMPORTANT TO HAVE THEIR DATA IN A SINGLE DASHBOARD— BUT MOST ARE OPERATING WITHOUT ONE. Here’s how participants replied to the statement, “It is important to see marketing data from all our disparate sources in a single dashboard”: Here’s how participants replied to the statement, “I can see marketing data from all our disparate data sources in a single dashboard”: Strongly Agree Agree Disagree Strongly Disagree 31% 58% 10% 1% 5% 14% 56% 25%
  • 17. MARKETERS ARE REGULARLY FRUSTRATED BY HOW LONG IT TAKES TO CREATE MARKETING REPORTS. Here’s how participants responded to the statement, “I get frustrated by how long it takes to report on marketing data”: 10%STRONGLY AGREE 52%AGREE 33%DISAGREE 5%STRONGLY DISAGREE
  • 18. MARKETERS ARE OFTEN FRUSTRATED BY HOW LONG IT TAKES TO RECEIVE MARKETING REPORTS. Here’s how participants responded to the statement, “I get frustrated by how long it takes to receive reports on marketing data”: 7%STRONGLY AGREE 52%AGREE 35%DISAGREE 6%STRONGLY DISAGREE
  • 19. EMAIL IS THE #1 METHOD FOR SHARING MARKETING DATA. Here’s how participants responded to the statement, “I report marketing results through…”: EMAIL• In-Person Meetings: 72.92% • Spreadsheets: 66.67% • PowerPoint Presentations: 62.5% • Printed Reports: 58.33% • A Dashboard: 29.17% • Other: 4.17% • Don’t Report Marketing Results: 4.17% 83.33%
  • 20. RETURN ON INVESTMENT What marketers are doing—and what they wish they could do— to measure the effectiveness of their marketing activities
  • 21. AT EVERY LEVEL OF THE ORGANIZATION, MARKETERS ARE UNDER MORE PRESSURE TO TIE NUMBERS TO THEIR EFFORTS. Here’s how participants responded to the statement, “My boss expects me to provide data-driven results”: AGREE » 47.92% DISAGREE » 12.5%STRONGLY DISAGREE » 4.17% STRONGLY AGREE » 35.42%
  • 22. MARKETERS STILL STRUGGLE WITH CALCULATING ROI ON COMMON MARKETING TACTICS. Here’s how participants responded to the statement, “Our team knows the return on investment (ROI) for the following tactics”: EMAIL MARKETING ················· BANNER ADS ···························· LIVE EVENTS ······························ SEO·············································· SOCIAL MEDIA··························· 72% 54% 51% 51% 37% 28% 46% 49% 49% 63% Know ROI Don’t Know ROI
  • 23. THE MAJORITY OF MARKETERS ARE HELD ACCOUNTABLE FOR ROI— BUT NEARLY HALF CANNOT MEASURE IT. 82% are held accountable for ROI on marketing spend— but only 33% have access to marketing contribution to revenue. That puts 49%of marketers in a pretty tough spot. Are held accountable Have access to marketing contribution revenue 82% 33%
  • 24. 44% OF EXECUTIVES CANNOT EASILY ACCESS MARKETING’S CONTRIBUTION TO SALES REVENUE. Here is how executives responded to the statement, “Our team can easily access sales revenue from marketing activities”: 10%STRONGLY AGREE 46%AGREE 23%DISAGREE 21%STRONGLY DISAGREE
  • 25. ROI FACTORS INTO THE COMPENSATION OF THE MAJORITY OF MARKETING EXECUTIVES. Here’s how executives responded to the statement, “I am compensated by marketing ROI”: 4%FULLY 50%PARTIALLY 46%NOT AT ALL
  • 26. 3 OUT OF 4 MARKETING EXECUTIVES ARE UNABLE TO CALCULATE SOCIAL MEDIA ROI. Here’s how executives responded to the statement, “Our team knows the return on investment for social media”: 14.71% Strongly Disagree 61.76% Disagree 14.71% Agree 8.82% Strongly Agree
  • 27. CONCLUSION
  • 28. THIS REPORT REVEALS TWO IMPORTANT ASPECTS OF MARKETERS’ DAILY LIVES: THEY KNOW THEY NEED DATA, AND THEY OFTEN CAN’T GET IT. IT’S AN UPHILL BATTLE AND THEY’RE FIGHTING A GOOD FIGHT—ALL THINGS CONSIDERED. BUT WITH MORE ACCESS TO THE RIGHT DATA, THEY COULD DO BETTER. SPONSORED BY DOMO Domo connects to any source of data and brings it into an intuitive dashboard. This helps marketers get the right information at the right time, and make better data-driven decisions. To learn more, visit www.domo.com.
  • 29. ABOUT THE SURVEY The participants, their roles and select characteristics
  • 30. SURVEY PARTICIPANTS We surveyed a spectrum of marketing professionals. The total number of participants was
  • 31. TITLES AND ROLES At all levels of a marketing organization, marketers deal with data. Participants in this survey cover the full spectrum of marketers, so the responses reflect strengths and weaknesses at all levels. 34%DIRECTORS 19%VP/SVP/EVPMANAGERS 23% 8%ASSOCIATE 6%CONSULTANT 6%OTHER 5%CMO 34%DIRECTORS 19%VP/SVP/EVPMANAGERS 23% 8%ASSOCIATE 6%CONSULTANT 6%OTHER 5%CMO
  • 32. POPULAR TECHNOLOGIES Here are the most popular marketing technologies by percentage adoption: 83% 74% 68% 55% 54% 52% 46% 42% 40% 36% 25% 18% 16% 5% EMAIL MARKETING SOCIAL MEDIA WEB ANALYTICS CRM SURVEYS BANNER ADVERTISING VIDEO PPC CORPORATE BLOG WEBINAR PLATFORMS MARKETING AUTOMATION BUSINESS INTELLIGENCE AFFILIATE MARKETING OTHER 10%20%30%40%50%60%70%80%90%100%
  • 33. COMMON WATERING HOLES Here are the most popular sources for industry information, listed by percentage of marketers that use them: Top Websites: LinkedIn, MECLABS, MarketingProfs Top Newsletters: HubSpot, MarketingProfs, SmartBrief Top Blogs: MarketingProfs, Mashable, Content Marketing Institute Top Associations: AMA, DMA, WMA Top Events: AMA, Dreamforce, Marketo User Conference Websites Newsletters Blogs Associations Events 92% 77% 67% 58% 52%