Measuring your marketing efforts goes hand in hand with the mission that marketing is no longer a cost center. 2018 marketing arrived to be recognized as a profit center. However, Marketing Measurement and Attribution will get key in 2018.
The main reason for creating a measurement and attribution strategy is to show a direct relationship between pipeline and revenue. Involving the complete team in the dialogue and define what to measure and how to implement measurement across all campaigns and programs is key to success, according to the infographic.
Putting the right tools in place can assist marketers to measure the impact of their efforts. The infographic points out that 51% of marketers use only Excel spreadsheets. None of them implemented a CRM, marketing automation tools, or a dedicated attribution platform, according to stats the graphic.
Data analysis and understanding those are still key to successfully reach your goals. And no, web analytics is not a marketing measurement tool, which the graphics point out correct, even if 68% of marketers still rely only on them. The market can improve here, only 20% use a proper attribution platform.
Making the digital marketing department to a profit center is key to success in the future.
If you want to ensure your job don’t wait longer to implement the right measurement techniques. Top level management recognizes the importance of marketing and they put quotas tied to revenue, with three-quarters of all marketers responsible for lead-based, revenue-based, and/or account-based quotas.
To see the full state of marketing attribution and determine how your company measures up, check out the infographic “The Current State of Marketing Measurement and Attribution ” below. Let us know in the comment section below how you level up, or share with us your experience, is your companuy seeing marketing as a profit center?.
I fully agree that digital marketing is a key point in making an impact on a relationship between pipeline and revenue, and the measurement of marketing efforts is an important aspect of the overall business analysis. I was surprised to learn from your article that up until now marketing was still not recognized as a profit center. I thought this was a prooved fact for at least 5 years, or even longer. Thank you for the interesting statistics used in your publication.
interesting info
Great article. I agree that most marketers want to measure their results better, but I think the problem is that sometimes the results are so hard to measure. Especially where there is no direct ROI. How do you measure brand equity for a small brand? It may be improved but can be hard to measure. Often it takes so many marketing touch points for the marketing to have an effect, and one single form really doesn’t provide any ROI. I think businesses see more value in marketing nowadays though.
Very interesting and detailed information. I liked the statics and the presentation of this subject. Thank you
The way you presented your charts/information was incredibly easy to read. Also, the way marketers analyze information is actually incredibly surprising. I didn’t know web traffic was such a priority.