Sales & Marketing
What are Sales and Marketing Analytics?
As defined by SAS, “Marketing analytics comprises the processes and technologies that enable marketers to evaluate the success of their marketing initiatives by measuring performance (e.g., blogging versus social media versus channel communications) using important business metrics, such as ROI, marketing attribution and overall marketing effectiveness. In other words, it tells you how your marketing programs are really performing.” Wordstream defines Marketing Analytics as, “The practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). Understanding marketing analytics allows marketers to be more efficient at their jobs and minimize wasted web marketing dollars. Beyond the obvious sales and lead generation applications, marketing analytics can offer profound insights into customer preferences and trends. Despite these compelling benefits, a majority of organizations fail to ever realize the promises of marketing analytics. According to a survey of senior marketing executives published in the Harvard Business Review, ‘more than 80% of respondents were dissatisfied with their ability to measure marketing ROI.'”
Why do I need Sales and Marketing Analytics?
According to IBM, “Marketing analytics provides marketers with the insights they need to gain superior results. It helps them understand which actions will build more profitable relationships with customers, how to generate better ROI from marketing programs, and how to transform the flood of social media data into successful marketing strategies. Marketing analytics helps marketers of all roles make smarter decisions and improve outcomes.”
And, according to McKinsey, “The benefits [of integrating sales and marketing analytics] can be enormous: [McKinsey’s] review of more than 400 diverse client engagements from the past eight years, across industries and regions, found that an integrated analytics approach can free up some 15 to 20 percent of marketing spending. Worldwide, that equates to as much as $200 billion that can be reinvested by companies or drop straight to the bottom line.” . . . “The pressure on business leaders to demonstrate return on investment from a diverse portfolio of marketing programs is only increasing. The data to make smarter decisions are available, as are the analytical tools . . . Taking an integrated analytics approach is the key to uncovering meaningful insights and driving above-market growth for brands.”
Why Choose Competitive Analytics for my Sales and Marketing Needs?