The results of the 11th annual Marketing Performance Management Survey are out. Allover we can see that the CXOs are not in sync with there marketing departments. Marketers have a hard time delivering data which can give them indications for decision making process.
More than 400 business and marketing professionals from over 200 companies completed the survey, which was designed to assess Marketing’s performance: specifically, how marketers use data, metrics, and analytics.
Some of the key findings…
- Just 40% of marketers say measuring Marketing’s value and contribution to the business is very important or critical.
- However, less than 10% of senior executives are relying on marketing data to make decisions.
- The C-suite can’t relate marketing activity-based metrics to business outcomes.
- The “A” marketers are ahead because they know what their key stakeholders care about.
- These “A” marketers are actually moving two of the most important business outcome needles: market share and customer satisfaction/loyalty.
It is a proven fact that only a handful of senior executives are relying on marketing data. From sales executive only 16%, business units or division leaders only 13%, CEO’s even only 9% and CFOs 6%. The difficulties can be found in the way marketing data is presented. Marketers have difficulties to present metrics which their peers require to make a decision.
Only 45% of marketers are confident enough to understand metrics and present the relevant data to decision-makers.
Check out the following infographic which summarizes key findings from the Forrester/ITSMA/VEM joint study to learn how “A” marketers are measuring business outcomes and using analytics: