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46% of marketers 'occasionally' gain insight from company analytics data
MarketingSherpa's first ever Marketing Analytics Benchmark Report has just been released. Packed with insights from marketers in over 1,100 companies, the report outlines what marketers are doing right in their use of marketing analytics and where there's room for improvement.
A significant finding from the report is that just 37% of marketers routinely gain insight from in-house marketing analytics. The majority (46%) only occasionally gain insight while 6% rarely do so, 9% lack the tools, and 2% don't have access to analytics data.
Of those that don't use marketing analytics to make marketing decisions, 42% rely on gut instinct.
Familiar factors are cited as being the biggest barriers to effective analytics use; 21% of participants said lack of resources and 20% said a lack of time. Other factors include a lack of experience or understanding (17%), and budget limitations (15%).
"We find analytics extremely useful, but I don't think upper-management attaches as much monetary value to it as it should have because of their lack of understanding," says participant Matt Seitz, Marketing Manager, ERC.
Other key findings from the report include:
- 25% of companies have significant data on most client interactions and 14% have "vast quantities"; 40% have an average amount of data;
- Generating reports is the most common analytics platform use (48%) whereas 27% use it for gaining deeper insights;
- The most common metrics routinely tracked are open rates (78%), click-through rates (73%), and unsubscribe rates (65%).
According to the report, "It's no longer enough to just use traditional clickstream analytics. Simply measuring page-views and path analysis doesn't lead to action."
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