B2B Executives Use Marketing Analytics to Boost the Bottom Line
Marketers recognize more internal efficiency and gains in sales due to implementation
More B2B marketers are tapping into the world of marketing analytics in an effort to improve ROI and try to more efficiently allocate their marketing dollars. In fact, as executives at B2B firms increasingly realize, many of these marketing analytics efforts are having a noticeable impact on their bottom line.
Based on April 2016 data from digital marketing organization Regalix, which surveyed more than 500 B2B marketers worldwide, more than 60% said they’ve witnessed a sales increase of between 11% and 50% due to marketing analytics.
When digging more deeply into the benefits marketing analytics, the reasons for the sales boost becomes more clear. As it turns out, the deployment of such analytics tools appears to give B2B marketers better visibility into their marketing spend, allowing them to more efficiently allocate their marketing dollars and identify top-performing channels. Many of the B2B respondents in Regalix’s survey mentioned identifying marketing channels with the best ROI, more effectively allocating marketing spend and optimizing the marketing mix as the key benefits of using marketing analytics.
Although the main benefits of marketing analytics today are mostly focused on efficiency, a growing niche of B2B executives is also using analytics in a “predictive” capacity as they attempt to better understand and anticipate customer needs. One March 2016 study of predictive analytics by Demand Metric found that 44% of B2B marketers were either already implementing or testing such predictive analytics tools in their organizations.