Are You Investing in Data-Driven Marketing?

In today’s business marketing is about creating great data and content. Businesses who know how to use that data for their marketing will enjoy a long successful future.

The world of marketing has changed significantly over the past 10 years. The Internet has transformed this realm into something truly amazing. The level of insights we have access to now is far out and those who know what to do with all the data are the ones who succeed. Brands and companies rarely have the skill or knowhow to pull this off, so they hire an L.A. SEO service to do it for them. Expert SEO services can help improve your local or national company by increasing traffic and converting more prospects into customers.

Brands that are looking to achieve these goals are struggling with filling the gap between the information obtained and actionable insights required to propel their businesses forward.

Where it All Started

This gap didn’t appear out of thin air. According to one survey done by The CMO and Duke University’s Fuqua School of Business, marketing analytics spend was down. This is troublesome because CMOs themselves predicted their marketing analytics spend would increase over the next few years. The trend is crawling at a slower pace than anticipated.

Since 2012, the amount of projects utilizing marketing analytics have dropped. So what is causing this tepid year-over-year progression? Maybe CMOs aren’t understanding how valuable marketing analytics can be. Or maybe they find it’s not worth spending money on.

What Insights Show

According to an MIT Sloan Management Review study, neither of these assumptions are true. MIT collaborated with the SAS Institute on this study, which revealed that CMOs, senior management and global executives actually want to use analytics more.

About 2/3 of executives surveyed said they relied a lot on the experience of management rather than actual data. A small amount said they had the data needed to make insightful business decisions, but didn’t. If CMOs want to use data, but aren’t – what’s the hold up?

Actions Speak Louder than Words

A whopping 75 percent of those surveyed said they had plenty of actionable data at their disposal. They even said their access to this data has increased and are also better able to capture and leverage it – just not at the pace they’d like.

Only a minority (1/8) of them considered themselves analytical innovators. This is the term used to identify those that are being encouraged by senior management to foster their analytical skills. This culture is more strategic about how they use the data they collect. There are also more and more SEO companies in L.A. now offering analytical services.

With only an eighth of companies saying their company culture thrives on analytics shows how much work businesses need to put in. This is strange because many of them state that taking insights from data was a top priority.

Research performed by Marketo also shows that successful businesses will excel over the next five years and beyond, just by investing in actionable data.

In a survey, it showed that marketing analytics was third on the list of top technologies to invest in within the next three to five years, behind mobile marketing and social media. Businesses understand the importance of marketing analytics and the value it holds.

Apparently, data is being collected, it’s just not being put to good use. This is where the term “action speaks louder than words” come into play. If your company is also collecting large amounts of data, but not really putting it to use, then it’s time to get the right help. You can hire internally, or seek the assistance of an expert from an SEO service in L.A.

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