A new study titled “The Data Driven Marketer” released by Bizo earlier this week shows that approximately 68 percent of B2B marketers are using data to analyze their customers. Bizo researchers say their study highlights marketers’ increasing reliance on analytics tools, CRM and marketing automation solutions.
The researchers at Bizo surveyed 852 marketers to complete their study. Most of the respondents had embraced some type of form of data-driven marketing, whether it be marketing automation or website analytics. About 54 percent of respondents use data to measure their own marketing performance.
More specifically, CRM appears to be a tool of choice for B2B marketers, as the Bizo study found that 67 percent of respondents use CRM regularly. Furthermore, 90 percent of software marketers at large companies have CRM systems installed.
“Building a data-driven marketing requires software, and plenty of it,” wrote the authors of the study. “Marketers who responded to this Bizo survey have invested heavily in software, some platforms more than others.”
Other platforms that stood out in the survey were general analytics tools (60 percent), email software (39.8 percent) and social media management tools (37.5 percent).
The Effectiveness of CRM
Although more marketers appear to be turning to CRM to gather data, it is not always the most helpful resource, according to a study published by Corporate Visions Inc. The company found through its research that 80 percent of B2B sales and marketing professionals believe that CRM doesn’t always provide them with the data they need to close big sales.
Corporate Visions polled about 800 respondents to gather its results. About 87 percent of people said they were required by their company to use CRM. However, 79 percent said that they simply “check the boxes” when it comes to using their system, which does not provide them with insightful data for sales.
“The results clearly illustrate the right processes and tools are in place, but there are execution gaps in the areas of differentiation and negotiation conversations – and there’s nothing in their methodologies or technologies to help them with those dialogues,” said Tim Riesterer, chief strategy and marketing officer for Corporate Visions.
CRM did not yield large benefits for respondents in Corporate Visions’ study, but Bizo’s study hones in on the fact that CRM isn’t the main problem – the issue is finding the “gem in the rough” when it comes to marketing resources.
About 30 percent of marketers who replied to the Bizo survey said that they do not have a good handle on attribution, or which tactics perform best when targeting specific parts of the sales funnel. CRM is just one of many resources available to marketers today.
Screenshot via Bizo