Previous research has shown that marketers are turning to analytics to learn more about their customers and prospects, but a new study highlights the need for further integration. Forrester Consulting released data indicating that just 26 percent of marketers’ analytics tools are well-integrated and work seamlessly together.
Marketers with at least five tools said they were 39 percent more likely to see an improvement in the overall performance of their marketing strategy. However, 60 percent of the respondents said that marketing analytics tools can be challenging to use for other stakeholders in their organization.
The data shows that 87 percent of sophisticated marketers are able to demonstrate the value their marketing analytics tools contribute to the business. Just 26 percent of less-sophisticated marketers claimed that they were able to do the same. The researchers defined less-sophisticated respondents as those who were least likely to excel across dimensions such as content relevancy, customer personalization and marketing program management.
A Growing Confidence in Marketing Analytics
The “Global Review of Data-Drive Marketing and Advertising” report produced by the Winterberry Group and the Global DMA at the end of 2015 found that marketers were becoming increasingly confident in the use of analytics. About 80 percent said that data was important to their efforts.
Last year, 36.7 percent of U.S. marketers claimed that they had seen a moderate increase in their data-driven marketing and advertising spend. Approximately 39.1 percent said they expected this amount to rise again in 2016.