More marketers are understanding the value of analytics, but still struggle to analyze their data.
The “High Value Marketing: Connecting Customers Through Technology, Analytics and Collaboration” report from Harvard Business Review and Salesforce found that just 48 percent of developing marketers (those with inconsistent use of advanced tech-enabled marketing practices) claim their marketing technology is easy to use. Only 42 percent stated that they could access the analytics they need from within their marketing department.
About 58 percent of advanced marketers (those with widespread use of advanced tools, analytics, and practices to better leverage data) believe their marketing metrics are consistent across parts of their organization. Only 47 percent of developing marketers could say the same.
Furthermore, 38 percent of marketers said they have the ability to track marketing spend ROI, while 56 percent still need to work on achieving this goal. Just 40 percent of respondents said they can track their lead-to-opportunity conversion rate.
The Use of Predictive Analytics in B2B Marketing
B2B marketers who have turned to predictive analytics, in particular, are now reaping the benefits. Research conducted by Forrester Consulting on behalf of Radius found that 89 percent are now able to identify new opportunities with predictive analytics. About 92 percent have optimized their marketing approach to reach their target audience.
Research also showed that many B2B marketers were looking ahead to integrating predictive analytics. About 37 percent claimed they were interested in doing so, while 61 percent said they had already implemented them. Approximately 83 percent of B2B marketers claimed that they were seeing “considerable” or “very high” business impact through predictive analytics usage.