How Beneficial is Your Time Spent Analyzing Marketing Data? [CHART]

by John Stetic on July 21, 2013 in Marketing Measurement

“Look before you cross the street”; “Take in this view”; “Look at this!” We are always being told to look around and watch where we are going.  If you don’t, bad things can happen — just ask the Mayor of Toronto.

But particularly for marketers, if you do take the time to look around and pay attention does it have a net positive benefit?  That’s the question we sought to answer in this week’s chart:  Does the amount of time you spend with your marketing data help you run better campaigns? We analyzed the number of times users who accessed their Eloqua reports and dashboard through Eloqua Insight and noticed some interesting data:

marketingdata

Marketers who spend more time analyzing their programs and taking appropriate action do end up with a pay off. In fact, marketers who perform above the average in response rates look at their marketing analytics 30% more often than those with below average response rates.

Forbes recently ran an article about how CMO 2.0 is Gaining Star Power by being data driven and building on a solid analytical foundation for decision making. The article referenced an IBM study that said half of the 1,700 CMOs surveyed said they were prepared for the transformation that big data was going to bring. The half who are ready are a “new breed” of data-driven CMOs.

So, thank your parents for teaching you to look before you cross the street. That intrinsic habit of paying attention to your surroundings and watching what you’re doing created the foundation for you to be the new breed of data-driven marketers – a breed we all know as Modern Marketers.

 

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