As businesses follow consumer audiences to the various digital outlets they use, understanding how or if these marketing efforts are impacting purchases is a major challenge faced by businesses big and small. This fragmented digital landscape introduces a plethora of data for marketers to collect, analyze and understand.
During last week’s webinar, representatives from TapClicks, a marketing reporting and analytics adtech company, explored the many challenges faced by today’s marketers when it comes to marketing data. In addition, they explored ways technology and automation can help overcome “data overload.”
They shared some interesting stats and insights around the current state of marketing analysis such as:
- Three main challenges introduced by influx of marketing data: 1. scattered silos of data, 2. difficult to analyze overall performance, and 3. hard to create unified client reports
- Campaigns integrating 4 or more digital channels outperform single or dual-channel campaigns by 300%
- 21% of marketers spend more than 10 hours a week on marketing reporting and 45% spend at least five hours
- Extensive users of analytics are more likely to outperform the market
- 75% of marketers say measuring marketing performance is important but only 25% of marketers say they do a good job of measuring marketing performance
- A medium-sized agency spends about $200k per year on marketing reporting
For more, check out the entire webinar presentation below.
For access to all of LSA’s past webinars, visit http://bit.ly/LSAwebinars.