Despite the fact that marketers work to gauge the impact of their strategies, new research suggests that there is still room for improvement in terms of determining a return-on-investment (ROI).
DemandGen recently published its “Marketing Measurement and Attribution Survey Report,” and statistics showed that the majority of marketers (39%) believe that their company still “needs improvement” in terms of its current ability to measure and analyze marketing performance and impact. Only 15% of marketers stated that their company’s ability is “excellent.”
In terms of the obstacles getting in the way, most marketers (51%) said it is the inability to connect and analyze data across platforms and applications. About 46% claim that it’s the inability to measure and track activity between specific buyer stages, and the same percentage stated that their data is a mess.
The Primary Challenges of Marketing Attribution
This is not the first time that research has pointed to marketers’ inability to gauge ROI. Previous data suggests that marketers have faced many barriers to success in this area.
Ascend2 conducted its “Revenue Attribution Outlook Survey,” and statistics indicated that data quality (42%), analyzing marketing impact at each buyer stage (40%), and obtaining budget and staff (36%) are the most common barriers to success in terms of revenue attribution.
In terms of the most difficult channels to analyze for ROI, social media marketing (47%) tops the list. This is followed by content marketing (40%), video marketing (35%) and email marketing (33%).