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Put simply, analytics are critical for marketing success, at least according to business-to-business (B2B) marketing execs polled worldwide by Regalix. The February 2015 study surveyed more than 300 senior marketing executives and business leaders around the world and found that 86% of respondents viewed marketing analytics as being very important to marketing success.
Similarly, in September 2014 research by Salesforce Marketing Cloud and LinkedIn, 82% of US senior-level B2Bs said marketing analytics were absolutely critical or very important—the highest response rate out of technologies studied.
Regalix found that 84% of B2Bs were investing in marketing analytics. What did they look for when determining which tools to spend on? Demand was high for a cross-channel view of results, at 82% of respondents. Predictive and prescriptive analytics came in second place, cited by nearly seven in 10 B2Bs, while dashboards rounded out the top three.
A look at the marketing tactics used by respondents gave more insight into why a cross-channel view was so important. Usage was high across the board. All respondents said they used and analyzed email marketing, while 86% said the same about content marketing. Just over eight in 10 implemented and leveraged social media marketing or search engine optimization, and websites and paid search were each used by over three-quarters of respondents. Even second-to-last-place display and banner ads were cited by more than seven in 10 respondents.
Among Econsultancy and LinkedIn respondents, marketing analytics ranked as the second most effective technology, with 41% of senior-level B2B marketers saying so, trailing only content management. But despite marketing analytics’ huge potential, Regalix found that they grabbed a small share of B2B spending. Fully 87% said they allocated less than 10% of their marketing budgets toward marketing analytics, vs. 13% who put between 10% and 25% toward such efforts. However, 56% of respondents expected their analytics budget to increase over the next 12 months, vs. just 11% who foresaw a decrease.
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