In a webinar hosted by CMS Wire on Sept. 23, Amit Varshneya of Demandbase and Holger Schulze of eG Innovations sat down to discuss the results of the “Trends and Challenges of B2B Marketing Analytics in 2014” survey. Schulze, who led the research initiative, looked at responses from 500 marketing professionals. He found that 54 percent of people claim that a lack of systems integration was a big challenge for marketers this year.
Additionally, Schulze discovered that 44 percent believed poor data quality was a marketing hurdle, and 34 percent said that a lack of resources presented issues. However, 46 percent of marketers expect their analytics budgets to grow, and there is an evident shift toward data-driven marketing. About two-thirds of respondents said that the spreadsheet is their most commonly used technology in terms of data analytics, while dashboards were cited by 54 percent of people.
The Move Toward Big Data
In a report released by Bizo this past August titled, “The Data-Driven Marketer,” researchers were able to determine that 54.8 percent of marketers use data to measure their marketing performance. Additionally, 68.2 percent of marketers are using data to analyze their customers.
Software and technology is also helping marketers in their goals to use more big data, according to the survey. About 67.7 percent of respondents said that they use CRM systems, while 31.3 percent claimed that they use marketing automation software. However, it isn’t just all about technology – having data-oriented employees is a part of the big scheme as well, according to the report.
“The survey indicated that marketers are hiring more data experts and mathematically-oriented people as marketing organizations change to meet the demands of data-driven marketing,” wrote the authors of the study. “Almost 30 percent of respondents (29.6 percent) said they plan to hire more data-oriented employees in the marketing department. That’s twice as many as those who said they planned to hire fewer (14.5 percent). Similarly, more than a third of respondents (33.7 percent) said they planned to hire more mathematically-inclined employees, while just 17 percent said they planned to hire fewer.”