If you’ve been following along with our blog series this month, you probably see the value in new marketing approaches that lead with data. Actually changing your company or department, however, is an entirely different matter. When leaders are accustomed to one approach that’s based in habit, how can marketers convince them change is necessary? The answer is, again, to state your case with data.
Use these statistics to show the importance of data optimization in marketing:
- A recent study of more than 10,000 marketing executives globally about the use of data found that the respondents who said that their organization highly leveraged data and analytics to improve marketing effectiveness grew significantly faster than those that did not.(1)
- Another study showed that companies that use advanced analytics tools enjoy higher win rates. (2).
- In a December 2013 study, Domo found that 87 percent of marketers agree or strongly agree with the statement, “I rely on marketing data to do my job well.” Your competitors are using the power of data, and will pull ahead if you do not follow suit.
- The same report found the 82 percent of marketers “are held accountable for ROI on marketing spend” but only 33 percent had access to the relevant data. The marketers who have, and make use of, data on the outcomes of their work will prove their worth more effectively. On top of this, they will more successfully adapt their future marketing strategies. A gap will quickly emerge and widen between the data-driven marketers and those working by gut feeling.
- According to Adobe, 77 percent of marketers “believe real-time personalization is crucial.” Such personalization requires a rich strategy for analyzing data and putting it to use. Since 60% of marketers “struggle to personalize content in real time,” this is another area in which data-savvy marketers will continue to pull ahead of the competition.
- According to a 2014 CMO survey from Duke University’s Fuqua School of Business, The American Marketing Association and McKinsey & Company, “spending on marketing analytics [is] expected to increase 73 percent in three years.” Again, marketers must move ahead of the curve to use analytics to inform strategy.
What other stats or personal experiences would you cite when making the case for marketing change?
Return Monday for more guidance on how to reinvent your marketing department for a data-driven world.
Photo credit: Duncan via Flickr Creative Commons
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