10 Informative Marketing Analytics Statistics to Know

Statistics about analytics to improve your marketing functions

When you run a marketing campaign, you don’t throw out some ads and wait for them to drive results. On the contrary, you should be constantly assessing your campaigns and gathering insight from the results they drive.

That’s the idea behind marketing analytics. Your marketing will encourage certain customer behaviors and provide you with insightful data about your audience, allowing you to further improve your marketing down the road.

But what makes marketing analytics so valuable? 

Below, we’ll look at some useful statistics about analytics to help you see how it can benefit your marketing. Keep reading to find out more.

Then subscribe to Revenue Weekly — our email newsletter — to get more digital marketing tips from the agency with over 29 years of experience!

10 marketing analytics stats for your business to know

Analytics is all about gaining insight from the data you collect. And we have some data on hand about marketing analytics — data that can help you see the value in analyzing your current marketing campaigns.

Here are 10 marketing analytics facts to know!

1. 44% of marketers say that the data they have on their target audience is high-quality.

The first stat on our list indicates the importance of high-quality data. 44% of marketers say that their audience data is high-quality, and your competitors are probably among those businesses. If you want to stay ahead of the curve, you need to make sure your data is equally high in quality.

So, how do you ensure that your marketing data is high-quality? Firstly, make sure you’re acquiring it via trustworthy tools and sources. Secondly, be sure to filter through all of the data you collect and weed out any inaccuracies or repeated data points.

2. 87% of marketers identify data as the most underutilized asset at their companies.

According to 87% of marketers, their most underutilized asset is marketing data. In other words, these marketers have access to data on their customers and campaigns, but the vast majority fail to take full advantage of that data.

You can learn from this by avoiding the same mistake. There’s so much you can find out about your campaigns by simply examining the data they generate. Take advantage of that opportunity to learn about your marketing and improve it as a result!

3. 79% of leading marketers say that marketing analytics will be the key to success in the future.

The marketing landscape won’t stay the same forever. That shouldn’t be surprising — just look at how it’s changed over the past few decades. If you want to keep ahead of your competitors, you need to stay on top of all the changes in the marketing world.

Among other things, that means you need to really focus on your marketing analytics. As this stat shows, the current consensus among marketers is that analytics will be the key to victory in the years to come. If you neglect your analytics, you’ll be setting yourself up for failure.

For that reason, put in the effort to build your campaigns around data-driven insights you pull from your analytics.

4. 54% of businesses have considered using cloud computing and business intelligence (BI) technology in their data analytics.

One thing you definitely don’t want to do is fall behind the curve technologically with your marketing analytics. The same goes for most other businesses, which is why 54% of them have considered using tools like cloud computing and BI technology.

BI refers to a type of software that processes large amounts of business data and helps you generate reports from it. Depending on how much data you manage, a BI platform might be a very helpful tool for you. Cloud computing, meanwhile, makes it easy to access your data from multiple locations and devices.

5. When businesses use customer relationship management (CRM) software, their report accuracy can increase by up to 42%.

There are a variety of different tools you can use in your marketing analytics, but one of the best ones is a CRM platform. A CRM unifies all your customer data in one place and lets you organize it, and many CRMs come equipped with analytics features too.

If you’re unsure whether you should use a CRM, this stat might make the choice easier. CRMs can majorly boost the accuracy of your marketing reports, and that’s not even to mention the other benefits (for instance, some CRMs come with email marketing automation features).

6. Data governance is a top priority for 60% of businesses.

Data governance refers to the process of ensuring that your data is high-quality, secure, and readily available. Without data governance, your analytics will suffer. After all, if your data is contaminated or hard to access, you won’t have an easy time getting insights from it.

That’s why the majority of businesses say that data governance is one of their top priorities. If you’re not among those businesses, you definitely should be.

As you compile data for your analytics, spend time evaluating it to make sure that it meets your standards and doesn’t contain any errors. Then be sure to store it somewhere you can easily access it, and where it’s secure against hackers and bots that might try to get at it.

7. 68% of chief data officers say they want to improve the way they use data insights and analytics.

Many businesses have a chief data officer (CDO), someone whose entire job is dedicated to managing data analytics. You’d expect those businesses to be the ones who are ahead of the curve on data use, but surprisingly, the majority of CDOs feel like they need to improve the way they use their data.

Of course, that doesn’t mean they’re not using their data well. It just means they want to find ways of using it even better in the future. That’s a good mindset to have, and it’s one you should share. If you don’t consistently look for better ways to take advantage of your data, you’ll end up falling behind your competitors.

8. 82% of businesses use CRMs to manage their sales reporting.

We’ve already seen one stat demonstrating the helpfulness of CRMs in marketing analytics. But here’s another one: The majority of businesses use CRMs for their sales reporting. That means most of your competition uses CRMs, so you’ll definitely want to as well.

The other takeaway from this stat is that CRMs are useful for reporting on sales as well as marketing. That shouldn’t be surprising, since marketing and sales go hand-in-hand, but it’s worth being aware of.

9. 32% of sales representatives spend over an hour per day on manual data entry.

This stat gives you an idea of how important it is to use automated tools in your marketing analytics. As you can see, it can be very time-consuming to manually enter all your data into your desired platforms. The more time you have to spend on data entry, the less you can spend on actually analyzing that data.

But when you take advantage of automation, you can take a load off your shoulders. The right tools can automatically transfer all your data, and some can even automate the organization and analytics processes, too. Many CRMs and CDPs have these automation features built in.

10. Only 22% of companies are satisfied with their current marketing analytics capabilities.

A surprisingly small percentage of businesses feel that their existing marketing analytics is getting the job done. Most companies feel that they need to do more to improve their analytics efforts. Given that so many businesses feel that way, there’s a good chance you do, too. And if not, maybe you should.

It’s worth taking the time to assess your current analytics and determine if they’re as effective as you’d like them to be. If not, there are many ways to upgrade them, from using different tools to acquiring new data sources.

Whatever you choose, the main takeaway from this stat is that you shouldn’t settle for subpar marketing analytics.

WebFX can help you drive results through your marketing metrics

Ready to use what you’ve learned from these marketing analytics statistics to propel your marketing campaigns forward? WebFX would love to help you! We’ve earned over 1,100 client testimonials over the years from the businesses we’ve partnered with, proving that we know how to craft campaigns our clients love.

When you partner with us for our marketing analytics services, your marketing will receive a major boost. Additionally, you’ll receive a dedicated account representative to keep you in the loop about everything we do for you.

To get started with us, just call 888-601-5359or contact us online today!