Marketing Analytics Obstacles [CHART]
There’s been no progress in CMOs’ use of marketing analytics, according to the latest edition of the biennial CMO Survey from Duke University’s Fuqua School of Business. If anything, the use of marketing analytics is losing steam: respondents say that fewer than one-third of projects used analytics prior to a decision, down from 37% five years ago.
This seems a puzzling development, given that one of the key benefits ascribed to analytics is better understanding and measurement of ROI, a problem that still hounds CMOs today. Indeed, only about one-third (34.5%) of CMOs are able to prove the impact of their marketing spending quantitatively, a figure that hasn’t budged in several years of the survey.
The study asked respondents to identify factors preventing their companies from using more marketing analytics. The leading obstacle, per respondents, is a lack of process/tools to measure success through analytics, followed closely be a lack of people who can link to marketing practice. Read the rest at MarketingCharts.com.