What’s Keeping Marketers Up at Night
Internet, mobile and social channels have changed just about every aspect of marketing, and it’s only the beginning. A recent Adobe survey revealed 76% of marketers believe marketing has changed more in the last 2 years than the last 50. With all of that transformation, it’s no wonder the marketing department is feeling stressed.
The same survey put numbers behind “what’s keeping marketers up at night.” We pulled out statistics from the survey that are most revealing about where marketing is now…and where it needs to be.
1. 76% believe marketing measurement is important while only 29% believe they are performing well in this area.
Problem: There is nothing more frustrating for marketers than the inability to prove their efforts are paying off. Yet, in the new age of digital marketing, the pressure to measure and show return on marketing spend is growing. Quarterly presentations or weekly reports won’t cut it. There is more demand to show early wins and faster results.
Solution: In order to measure performance and define KPI’s, marketers need to capture data at relevant points. They also need to develop consistency in metrics across channels and networks. For example, what value do you give social interactions like shares, twitter favorites and facebook likes? Can that value be measured consistently across channels? Once you assign value to multiple touchpoints along the buyer’s journey, you can track activity and eventually uncover opportunities to optimize marketing spend.
2. Only 9% of marketers agree with the statement “I know our digital marketing is working.”
Problem: Most marketers struggle with analyzing data from multiple sources and channels.
The inability to see a complete picture in real time makes it difficult to confirm the effectiveness of digital marketing efforts.
Solution: Pulling data together and analyzing the marketing funnel from start to finish is the only way to accurately measure results and predict future opportunities. Doing this manually is challenging, if not impossible. The best solution is a platform that centralizes all of your raw marketing data, giving you the ability to analyze and monitor marketing performance.
3. 61% of marketers think that digital marketing approaches are in a constant cycle of trial and error.
Problem: Many marketers still rely on analyzing historical reports to determine “what worked and what didn’t”. The truth is, in today’s hyper-competitive and rapidly changing digital landscape, there is simply no time to waste on trial and error marketing. With increased scrutiny on marketing performance (see #1!), there will be very little tolerance from clients and the C-suite for this outdated approach.
Solution: At the recent 2015 Gartner Digital Marketing Summit, research director Martin Kihn pointed out to marketers, “the most powerful data you have is something you are sitting on that no one else has.” Transforming that data into insights is critical in order to understand the performance of your marketing activities and predict what will work moving forward. Ask yourself, for example, what kind of insight am I really gaining from a report on last week’s unique website visitors? Data driven insight will allow you to focus on what you know is working and eliminate trial and error all together.
Marketing Intelligence to the Rescue
Of course, the solutions to these marketing challenges require a lot of time and energy. That’s why more marketers and agencies are turning to a marketing analytics platform to help overcome the daily stresses described in the Adobe survey.
Analytics platforms and toolkits for marketing can automate your time consuming tasks, integrate multiple data sets for a holistic view and provide accurate insight into performance.
There are several solutions on the market, including Glew, that put the power of data analysis in the hands of the marketer, no IT help required! And if digital marketing continues to change as rapidly as it has in the last two years, you don’t want to waste time considering a software platform that can help you keep up.
Want to learn how top ecommerce stores maximize their product bundles? Download our free guide!
A Guide to Product Bundling: Tips for Ecommerce Success
How to Take Advantage of Facebook’s Value-Based Lookalike Audience
January 4, 2018
4 Ecommerce Challenges Facing the Hemp Industry
December 21, 2017
Multi-Channel Analytics for Enterprise
December 20, 2017