Not all marketers have seen their investment in data and analytics pay off, but new research suggests that they aren’t ready to give up on it just yet.
Gartner recently conducted the “Marketing Data and Analytics Survey 2020,” and statistics showed that 54% of senior-level marketers believe that analytics hasn’t had the influence that they expected, and about 37% of mid-level marketers said the same. Only 27% of senior-level marketers stated that marketing analytics has had the influence that they expected.
Despite the challenges that marketers have come across, it does not appear that they are giving up on data and analytics altogether. According to the survey results, the majority of respondents (44%) said that they will grow their marketing analytics team over the next two years. Approximately 38% stated that they will at least stay around the same size over the same time period, suggesting that marketers are still willing to give analytics and data a chance.
Marketing with Analytics for the Future
In the coming months, previous research indicates that marketers will be increasingly turning to analytics to achieve their primary objectives.
Forrester and Google published “The Future of Analytics” report, and data suggested that most marketers (17%) intend to make improving their use of analytics a top priority over the next 12 months. This was followed by acquiring more customers (14%), increasing customer lifetime value (11%), improving marketing alignment with other departments (11%), and improving the ROI/effectiveness of media and advertising (11%).
Overall, the majority of respondents (43%) believe that their current digital analytics technology has helped them improve the customer experience.