A new report by Marketo and Sydney-based ADMA (Association for Data-driven Marketing and Advertising) has found that although revenue growth is the top focus for marketers in ANZ, over 50% of marketers admit to guessing the impact of marketing contributions.
The research, which surveyed 444 senior marketers, found that 61% of those surveyed feel like they are fairly or poorly demonstrating their contribution to revenue. In fact, almost a third (31%) do not even measure it.
The study found that some marketers are investing in programs to better demonstrate the value of their work but approximately 13% make no attempt at all to measure the success of their activities at all.
The inability to speak the language of business metrics is influencing the poor perception by non-marketing management peers. Barely 15% of respondents said their peers saw marketing as a primary business driver and revenue generator.
Marketo ANZ senior director of marketing Chris Connell, who services NZ clients from his base in Sydney, said, “It’s amazing to me that attribution remains such a challenge for businesses. Marketers are always talking about data-driven insights and measurable outcomes – yet many marketers don’t practice what they preach.
“Marketers always talk about data-driven insights and measurable outcomes – yet many don’t practice what they preach.”
“Marketers need the right technology to be able to prove their impact. However, without tangible proof they won’t get these necessary funds. It’s a cycle – without attribution there is no real justification for investment in marketing technology.
“In fact, it is still more common for marketers to rely on traditional campaign metrics like clicks, downloads and customer satisfaction ratings, than on the financial metrics that underpin internal company and organisational goals.
“After revenue, the next key goals for businesses are acquiring new customers (21%) and enhancing customer experience (approximately 18%). To achieve this, marketing leaders must improve operational efficiency, invest in new technology and commit to improving the capabilities of their people through education and training.
Marketo, Inc., offers the leading Engagement Platform that empowers marketers to create lasting relationships and grow revenue. Consistently recognised as the industry’s innovation pioneer, Marketo is the trusted platform for thousands of CMOs thanks to its scalability, reliability, and openness. Marketo is headquartered in San Mateo, CA, with offices around the world, and serves as a strategic partner to large enterprise and fast-growing organisations across a wide variety of industries. To learn more about the Marketo Engagement Platform, LaunchPoint partner ecosystem, and the vast community that is the Marketing Nation, visit www.marketo.com
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