Todays sophisticated analytics tools can accurately measure which marketing strategy or tool is generating revenue, which tool is working exactly at which stage, and which tools either need to be optimized or discarded. In digital marketing, analytics tools such as big-data analytics can track and monitor all marketing efforts from start to finish.
The unfortunate news is that some marketers are still not making use of big data analytics.
The infographic by Ciceron below offers a strong business case for all those marketers who are still to realize the benefits of big-data analytics in marketing. The infographic presents a treasure trove of analytics platforms and tools available for digital marketing. The graphic shows that data-driven analytics can get around information that isnt easily accessible, and make monitoring and tracking marketing data easier.
The infographic is built around the proof of concept model; so the presented data indicate the top three contenders for marketing activities, marketing activities by marketer type, coping strategies, social media tools, and content marketing tools.
The important findings in this infographic are:
- Marketing analytics are mainly used to report marketing performance (64%), justify marketing budget (66%), and allocate marketing budget (52%).
- Majority of marketers seem to be focused on ROI only with 41% already reporting positive ROI.
- 53% of marketers plan to increase their marketing analytics budget in 2014.
- Analytics and content marketing feature high on marketing strategy lists.
- 66% of marketers believe in the positive outcome of big-data analytics, and 93% have been forecasted to join this trend in future.
- More than 66% marketers cite performance improvement as top reason for data-driven analytics.
- Only 45% of CMOs seem confident about their knowledge of business outcomes derived from analytics.
What these findings seem to indicate are:
- Content creation is becoming one of the essential marketing strategies.
- A solid digital marketing plan can build consumer trust, establish your domain expertise, and increase brand awareness.
- Marketing perception has shifted from a broadcast mentality to an interaction (communication) mentality.
Though this infographic largely points towards the importance of content marketing in establishing and promoting brand awareness, in reality, many B2B companies have not yet implemented a content marketing strategy, or are not even sure if one is necessary. The lack of understanding about the relevance of content marketing in overall digital marketing efforts can eventually reduce the impact of a brand in the marketplace.