As marketers continue to leverage data and analytics to reach their key objectives, new research suggests that those who are exceeding their goals trust in the accuracy of this information. Additionally, they have a more robust view of their customers and prospects.
Demand Metric recently partnered with Align BI to publish “The State of Marketing Measurement” report, and researchers compared “Star Performers” — those who exceeded their marketing goals in 2022 — to “Core Players” (marketers who met achieved goals) and “Under Performers” (marketers who missed their goals). The majority of Star Performers (49%) claimed that they had “significant trust or confidence” in the accuracy of their marketing metrics. This was compared to just 29% of Core Players and 13% of Under Performers who said the same.
As a result, most Star Performers (47%) claimed that they have a “near complete” ability to develop a complete 360-degree view of their customers. In comparison, just 24% of Core Players and 17% of Under Performers could say the same.
Improving Business Outcomes with Marketing Data
While data and analytics have proven useful to marketers, previous research indicates that not everyone is confident in how it could potentially improve business outcomes.
Ascend2 released its “Outlook on Marketing Data Quality” report, and statistics suggested that most marketers (60%) are only “somewhat confident” in their organization’s ability to improve business outcomes by leveraging its collected data.
That being said, the majority of respondents (49%) believe their leadership team is “fully” committed to improving the quality of their marketing data and analytics. About 44% stated that ensuring data security will be critical to success in this area.