What Marketing Analytics Means for B2B Marketers
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1 ON24 RESEARCH What Marketing Analytics Means for B2B Marketers
2 Executive Summary The research conducted by ON24 and Redshift Research demonstrates how B2B marketers are: LEVERAGING MARKETING ANALYTICS USING DATA FOR BETTER DECISION-MAKING PRIORITIZING TECHNOLOGY INVESTMENTS LEVERAGING SMALL DATA TO DRIVE MEASURABLE RESULTS Click through to learn more about the latest in analytics and data-driven marketing and how to implement best practices in your organization. 2
3 About ON24 and Redshift Research ON24 is the world s leading webinar marketing platform for demand generation, lead qualification and customer engagement, and Redshift Research is a leading provider of targeted research information for consumer and business sectors. The research examined in this project will help users understand webcasting as part of a larger marketing ecosystem and how marketing analytics derived from webinars can enable more effective decision-making that drives results. 3
4 Who We Surveyed and Why Redshift surveyed 221 B2B marketers of products and services at U.S.-based firms with more than 100 employees, ranging from SMBs (Small-Medium Businesses) to Fortune 500 firms. Key qualifications were that their primary job function is marketing and that they use marketing analytics. MORE THAN 220 B2B MARKETERS ACROSS MULTIPLE INDUSTRIES IN THE U.S. 4
5 WHAT WE WANTED TO LEARN Key Questions HOW ARE B2B MARKETERS LEVERAGING MARKETING ANALYTICS? HOW DO B2B MARKETERS USE DATA FOR BETTER DECISION-MAKING? HOW ARE B2B MARKETERS PRIORITIZING TECHNOLOGY INVESTMENTS? HOW CAN I DRIVE MEASURABLE RESULTS WITH SMALL DATA? 5
6 Marketers are beginning to implement sophisticated, metricsdriven marketing campaigns but still have room to grow. Most marketers believe that marketing analytics make them more successful, and 87 percent of marketers plan greater investment in analytics in 2015 and beyond. Most marketers (83%) see marketing analytics delivering tangible results helping increase product and brand awareness, generate leads, enhance performance measurement and drive strategic decision-making. WHAT WE LEARNED PLANNING TO INVEST MORE IN MARKETING ANALYTICS SEEING RESULTS FROM MARKETING ANALYTICS 92% 50% Most of the Time 87% 33% Always 82% 17% Sometimes 1% Rarely YES TOTAL YES YES % 40% % companies see marketing analytics ALWAYS delivering tangible results DENOTES SIGNIFICANTLY HIGHER PROPORTION AT THE 95% LEVEL OF CONFIDENCE 6
7 Today s marketers base campaigns nearly equally on intuition and experience, combined with hard data. RESULTS FROM USE OF MARKETING ANALYTICS WHAT WE LEARNED Ability to make more strategic decisions 52% 56% 59% Better performance measurement 54% 56% 58% Increase in awareness of the products or company 43% 50% 57% Marketing is more organized and transparent 48% 47% 48% Each marketing component is easier to evaluate 37% 47% 55% Improved lead generation/ qualification 38% 47% 55% More complete picture of target market 39% 44% 48% Increased ROI 42% 44% 46% TOTAL DENOTES SIGNIFICANTLY HIGHER PROPORTION AT THE 95% LEVEL OF CONFIDENCE 7
8 Enterprises have embraced analytics, and SMBs are learning fast both are integrating web, social and webcast data for customer and prospect insights. WHAT WE Analytics users also make extensive use of webinars and marketing automation tools, nearly 80 percent in large enterprises and nearly 70 percent in SMBs. Webcasts and social channels are becoming central to marketing campaigns, but greater opportunity remains to use them for gathering customer data. LEARNED USE OF MARKETING AUTOMATION PLATFORMS USE OF WEBINARS/WEBCASTS IN MARKETING CAMPAIGNS 79% 77% 73% 71% 66% 64% YES TOTAL YES YES YES TOTAL YES YES DENOTES SIGNIFICANTLY HIGHER PROPORTION AT THE 95% LEVEL OF CONFIDENCE 8
9 Businesses can quickly execute on analytics and technology with previously untapped small data. This low-hanging fruit can help generate faster results. Ease of use, easily understood data and speed of execution are the most widespread demands from marketers in terms of marketing technology. IMPORTANT ATTRIBUTES FOR MARKETING TECHNOLOGY EXECUTION ON MARKETING TECHNOLOGY IS THE NEED AND ACTIONABLE Data is easy to understand 60% 59% 60% SMALL DATA Quick to implement 51% 53% 55% CAN HELP. Easy to use once it s set up 44% 53% 61% Cost 49% 52% 54% Provides customized reports 50% 49% 50% Integrates with other marketing software 40% 48% 54% Provides reliable customer/tech support 37% 44% 50% Uses most advanced technology 26% 36% 44% 9 DENOTES SIGNIFICANTLY HIGHER PROPORTION AT THE 95% LEVEL OF CONFIDENCE TOTAL
10 Using existing tools and marketing collaboration with IT are important, while big data is a bit further away. PRACTICAL CONSIDERATIONS AROUND Most survey respondents said that collaboration between IT and marketing is needed for marketing technology and analytics to work. Big data is an aspiration, rather than a reality, for most marketers, and 77 percent believe it hasn t realized its full potential. A majority don t need much in the way of new marketing technology; they just want to learn to use current tools more effectively. MARKETING TECHNOLOGY 86% 83% 88% 77% 82% 71% 52% 49% 55% AGREE TOTAL AGREE AGREE AGREE TOTAL AGREE AGREE AGREE TOTAL AGREE AGREE DENOTES SIGNIFICANTLY HIGHER PROPORTION AT THE 95% LEVEL OF CONFIDENCE TOTAL
11 How marketers are using analytics: 97 percent of respondents believe that using marketing analytics has made their business more successful The vast majority of respondents (87 percent) plan to increase their investment in marketing analytics HOW ARE B2B MARKETERS LEVERAGING 97% 87% MORE SUCCESSFUL INCREASED INVESTMENT MARKETING ANALYTICS? 40 percent of enterprises see tangible results from marketing analytics, compared to 24 percent for SMBs Most respondents (56 percent) say marketing analytics tools enable them to make more strategic decisions 40% Enterprise 24% SMBs TANGIBLE RESULTS 56% MORE STRATEGIC DECISIONS 11
12 How marketers are using data: Webcasts deliver higher-quality customer data (35 percent) than marketing or social media (31 percent each) 35% Webcast 31% 31% Social 77 percent of respondents said that big data remains a promise, not a reality, but most (65 percent) said they have just the right amount of data to be useful 77% A Promise 65% Right Amount HOW ARE B2B MARKETERS LEVERAGING MARKETING DATA? SMBs rely less on hard data (31 percent) than their enterprise counterparts (48 percent) when making key decisions, turning instead to intuition and past experience A significant majority (88 percent) of B2B marketers are able to measure how customers are interacting with their content 48% Enterprise 31% SMBs 88% CAN MEASURE CONTENT INTERACTION 12
13 Priorities in marketing technology investments: While they are planning to spend more on technology specifically analytics marketers are less concerned with getting the most sophisticated technology (36 percent) and more focused on getting easy-to-understand data (60 percent) and a solution that is easy to implement and use (53 percent). HOW ARE B2B MARKETERS PRIORITIZING TECHNOLOGY INVESTMENTS? Easy-to-understand data 60% 36% Most sophisticated technology Easy-to-implement & use solutions 53% LESS CONCERNED MORE FOCUSED 13
14 Additional Conclusions: Leveraging Small Data and Implementing Best Practices THE SURVEY RESULTS INDICATE THAT B2B MARKETERS ARE BECOMING INCREASINGLY SOPHISTICATED IN THEIR UTILIZATION OF MARKETING TECHNOLOGY. WHETHER THE GOAL IS MAKING MORE STRATEGIC DECISIONS, MONITORING PERFORMANCE, IMPROVING LEAD GENERATION OR RAISING OVERALL COMPANY AWARENESS, ANALYTICS ARE INFORMING THE DECISIONS TODAY S DATA-DRIVEN MARKETER MAKES. MARKETERS WANT TO KNOW HOW TO BETTER LEVERAGE SMALL DATA AND ANALYTICS TO DRIVE BUSINESS VALUE MAKING THE MOST OF ACTIONABLE CHUNKS OF DATA. 14
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