Insights From Data Still Marketing’s Biggest Challenge
New research: "quick access to actionable insights" is the most important feature of a marketing measurement technology, and brands struggle to find it.
Author: Kimberly Collins
For brands, the most important feature of a marketing measurement technology is “quick access to actionable insights,” yet nearly 40% of survey respondents say that their company analyzes less than 20% of the consumer data available to them, according to new research published today.
A marketing technology-focused study by ClickZ, produced in partnership with Fospha, has found that marketers are largely dissatisfied with their current ability to gain value from their martech stacks: 43% are “likely” or “very likely” to invest in a new marketing measurement technology in the next 12 months.
About the report
The State of Marketing Measurement, Attribution & Data Management is based on a survey of 370 marketing professionals conducted in September 2018. Respondents to the survey were split between brand/client-side marketers (63%) and marketing agency professionals (37%).
First, the study looks at how companies — specifically brands and marketing agencies — are managing their data to get a better view of their current and potential customers. It then analyzes how they are operationalizing this data to generate insights across marketing measurement and attribution to drive business value.
Other key findings include:
- Businesses are using 7 separate technologies to extract insights from their data, on average.
- Just 33% of brands believe that their current measurement solutions perform accurate attribution of all media and data.
- 29% of survey respondents use attribution technology on all digital marketing campaigns.
- 32.5% of businesses have a clear view of the customer lifetime value (CLV) of their customers.
- 9% of marketers believe their organization has an “excellent” understanding of multi-touch attribution.
Sam Carter, CEO of Fospha, commented on the report: “There’s a huge amount of positive momentum around CTLV and incrementality. For the first time, advances in data science and machine learning mean that what can be done is meeting expectations. However, the biggest barrier to entry remains the same: data silos are the enemy of marketing measurement. Overcoming this data management barrier is no longer just strategically important — it’s an imperative.”
The research report is available for download from ClickZ here.