Skip to main content

Marketing Metrics and Myopic Usage of Analytics


Most U.S. marketers are using analytics. They recognize the importance of measuring marketing effectiveness, especially when they are asked to justify their spending. However, according to a report by eMarketer, there is room for improvement in formalizing approaches and communicating results.

According to a survey of senior marketing executives by Forbes Insights and MarketShare Partners, nearly seven in ten said they used analytics to measure marketing effectiveness. Marketers with large budgets were significantly more likely to do so than those with spending of less than $1 million. But, many in that group planned to adopt analytics in the future.

Many marketers still take an informal approach to measurement. Among those with budgets over $1 million, while 85 percent said they used analytics, 71 percent said they had a formalized way of doing so.

Marketers focused most on internal resources to measure the success of their programs, with 86 percent using internal data, 74 percent relying on internal teams and 52 percent on internally developed tools.

In comparison, 58 percent used third-party data and only 35 percent employed outside professional services.

Much of this effort is directed toward justifying marketing programs, but the marketers surveyed often lacked an effective way of communicating the success of their campaigns to other executives. While three-quarters of marketers begin initiatives with clear goals set out, only 56 percent have a system for assessing the campaign's business impact.

I wonder what percentage of marketers actually use analytics reports to make ongoing changes to their marketing practices. I suspect that most companies only look at the historical data to assess past performance. Few use it for forward-looking projections, or as a basis for realigning marketing spending.

Popular posts from this blog

Mobility-as-a-Service Creates Disruptive Travel Options

Building on significant advances in big data, analytics, and the Internet of Things (IoT), more innovative transit service offerings aim to increase public transport ridership and reduce emissions or congestion within metropolitan areas. By providing these services through smartphone apps, the transit services also significantly increase user convenience, providing information on different human mobility offerings -- including public transport, ridesharing, and autonomous vehicles. Mobility-as-a-Service Market Development According to the latest market study by Juniper Research, Mobility-as-a-Service (MaaS) subscribers will generate $53 billion in revenue for MaaS platform providers by 2027 -- that's rising from $5.3 billion in 2021. Let's start with a basic definition. MaaS is the provision of multi-modal end-to-end travel services through single platforms, by which users can determine an optimal route and price. The study identified a monthly subscription model as key to incr

Robocall Mitigation Solutions to Halt Criminal Threats

If you answer the phone and hear a recorded message instead of a live person, it's likely a robocall. A robocall is a phone call that uses a computerized autodialer to deliver a pre-recorded message. In 2020, the U.S. Federal Trade Commission (FTC) received 2.8 million consumer complaints about robocalls. Offering solutions to robocalling and associated fraudulent business practices, computerized mitigation platforms are an integral part of the solution. Platforms that are focused on actionable systems to disrupt unsolicited and potentially criminal phone calls help telecom service providers and industry regulators. Issues of whether one-size-fits-all developments are sufficient to be effective across the spectrum need to be addressed, and whether a single telecom network operator working unilaterally with a third-party platform could compromise desired or mandatory industry-wide standards. Robocall Mitigation Market Development According to the latest worldwide market study by Jun

Secure Digital Workspace Apps Enable the Future Enterprise

In early 2020, as the world responded to the COVID-19 pandemic disruption, many organizations were forced to rapidly transform their communications networks and IT infrastructure to support an unprecedented shift to remote work. Before the pandemic, approximately 38 percent of employees were remote full-time or had a flexible work arrangement where they split time between home and office locations. During the pandemic, the percentage of remote workers that CIOs had to support reached almost 72 percent. Future Enterprise Technology Market Development Enterprise leaders have been forced to adapt to a new state, shifting from traditional office-based operations to distributed workforce environments that must still provide the same level of connectivity, security, and efficiency across the organization. According to the latest worldwide market study by International Data Corporation (IDC), addressing connectivity across geographies and transforming networks to become more virtual and agile