Marketers are constantly looking for ways to link their efforts to company success, and new research shows that they are still struggling to gain insight into how their initiatives are making a difference.
DemandGen recently published the “2019 Marketing Measurement and Attribution Survey Report,” and statistics showed that the majority of marketers (42 percent) believe their company “needs improvement” in terms of its current ability to measure and analyze marketing performance and impact. One year ago, 40 percent of marketers said the same, while 14 percent stated that they are “poor or inadequate.”
Approximately 50 percent of respondents said that their largest challenges in terms of measuring marketing performance is the inability to measure impact across channels/campaigns.
Documented Strategies Help Struggling Marketers
As marketers continue to highlight their struggles in terms of identifying their impact on company success, previous research suggests that having a documented strategy can help.
Coschedule surveyed 1,597 marketers to determine how their marketing strategies are shaping up in the digital age. Most respondents (48 percent) only “somewhat” agreed that their marketing efforts have been successful. However, marketers who have a documented strategy are 538 percent more likely to report success compared to those who do not.
In addition, marketers who document their processes are 466 percent more likely to report success compared to their counterparts. Those who set goals are 429 percent more likely to report success as well compared to those who do not.