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.
Marketing as a profit center is getting real, 91% of marketers agree that measurement of their efforts is a top priority. Yes, the fact is, only 13% rank their measurement capabilities as “excellent,” according to an infographic by B2B marketing attribution experts BrightFunnel.
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?.