Marketing Analytics Statistics


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Marketing Analytics Statistics 2023: Facts about Marketing Analytics outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Marketing Analytics, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Marketing Analytics Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Marketing Analytics Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 25 Marketing Analytics Statistics on this page 🙂

Marketing Analytics “Latest” Statistics

  • Only 1.9% of marketing executives said their businesses had the skills to use marketing analytics, according to the CMO survey.[1]
  • 72% of marketers think that content improves client retention.[2]
  • In Google Analytics, it allows to look at data across platforms (web and app). It also allows to cut out reporting time by 50%.[2]
  • A recent Google surveyed showed that over 70% of people described themselves as channel-agnostic, meaning they were more flexible about whether they buy offline or online.[3]
  • According to the AMA’s 2021 CMO survey, the marketing environment is also getting increasingly digital, with digital marketing accounting for close to 60% of marketing spending.[3]
  • The US Bureau of Labor Statistics predicts that during the next eight years, total employment for advertising, promotion, and marketing managers will increase by 10% annually, producing 31,100 new positions.[4]
  • About 99,800 openings for market research analysts are projected each year, on average, over the decade.[4]
  • 57% of marketers are probably deriving the wrong conclusions from data by erroneously interpreting it.[5]
  • Data analytics are vital, according to 66% of marketers, and 63% agree that data literacy is important.[5]
  • In the next two years, 81% of marketers say they anticipate competing mostly or exclusively on the basis of customer experience.[5]
  • About 3 out of every 4 marketing leaders surveyed (76%) base decisions on data analytics.[5]
  • Despite the fact that many firms are beginning to see the benefit of marketing analytics, 37% of marketers believe that one of their top three issues is demonstrating that value.[5]
  • Leaders are 53% more inclined to believe that machine learning helps marketing teams analyze data to determine the intentions of consumers.[5]
  • Making up their biggest campaign related line item, marketers spend 15.9% of their advertising expenditure on branding.[5]
  • With 16% of their yearly expenditures going toward it, marketing analytics is the most expensive investment for marketers.[5]
  • Paid search represents about 39% of a business’s total marketing budget.[5]
  • The amount of effort spent manually gathering and preparing data was deemed to be a hindrance to team effectiveness by 37% of respondents in Gartner’s latest Marketing Data and Analytics Survey.[5]
  • 32% of marketers said that competition and marketing analytics were the most crucial elements supporting their marketing initiatives during the previous 18 months.[5]
  • About 57% of marketing research analysts have a bachelor’s degree and 39% have a master’s degree, according to O*NET OnLine.[5]
  • The demand for market research analysts is projected to grow 22% from 2020 to 2030.[5]
  • Over 80% of marketers claim that nowadays, the majority of their choices are informed by data.[6]
  • With the Ericsson Mobility Report, smartphone analytics predicts a 25% increase in mobile traffic by 2025.[7]
  • Leading marketers are 1.6 times more likely than average to think that greater company success is a result of open data availability.[8]
  • Leading marketers are 72% more likely to invest in the quality and/or volume improvements of the first party data they collect than the general public.[8]
  • Employment of market research analysts is projected to grow 19% from 2021 to 2031, much faster than the average for all occupations.[4]

Also Read

How Useful is Marketing Analytics

Marketing analytics allows companies to collect, analyze, and interpret data from various sources such as sales, social media, and online interactions to understand how consumers engage with their brand. By examining patterns and trends in this data, companies can make informed decisions about their marketing strategies and campaigns, ultimately driving better business results.

One of the key benefits of marketing analytics is its ability to provide companies with a deeper understanding of their target audience. By analyzing data on customer demographics, interests, and buying behavior, companies can tailor their marketing efforts to better meet the needs and preferences of their customers. This targeted approach not only helps companies attract new customers but also ensures loyalty and repeat business from existing customers.

Furthermore, marketing analytics can also help companies identify the most effective marketing channels and strategies for reaching their target audience. By tracking the performance of different marketing campaigns and channels, companies can optimize their marketing budgets and allocate resources to channels that deliver the best return on investment. This data-driven approach can result in significant cost savings and improved marketing effectiveness in the long run.

In addition to improving marketing strategies, marketing analytics can also inform product development and innovation. By analyzing customer feedback and preferences, companies can gain valuable insights into what products and services resonate with their target audience. This information can be used to develop new products, refine existing offerings, and create more personalized experiences for customers.

Marketing analytics can also help companies stay ahead of market trends and competitors by monitoring industry trends and benchmarks. By tracking key performance indicators and benchmarking against competitors, companies can quickly identify opportunities for improvement and stay agile in a rapidly changing business landscape.

Despite its numerous benefits, some critics argue that marketing analytics can be overwhelming and complex for some businesses to implement effectively. From choosing the right tools and technologies to interpreting the data correctly, there are potential barriers that may prevent companies from fully leveraging the power of marketing analytics.

However, with the advancements in technology and the availability of user-friendly analytics platforms, companies no longer need to be data experts to benefit from marketing analytics. Many marketing analytics software solutions now offer intuitive interfaces and easy-to-understand dashboards that allow businesses to visualize data and derive actionable insights without the need for advanced technical skills.

In conclusion, marketing analytics has undoubtedly become an invaluable tool for businesses looking to gain a competitive edge in today’s fast-paced business landscape. By harnessing the power of data, companies can make informed decisions, optimize their marketing strategies, and ultimately drive better business results. As technology continues to evolve and data becomes more accessible, marketing analytics will only continue to grow in importance as a key component of successful marketing strategies.

Reference


  1. hbr – https://hbr.org/2018/05/why-marketing-analytics-hasnt-lived-up-to-its-promise
  2. mailchimp – https://mailchimp.com/marketing-glossary/marketing-analytics/
  3. martech – https://martech.org/marketing-analytics-what-it-is-and-why-marketers-should-care/
  4. uchicago – https://professional.uchicago.edu/find-your-fit/certificates/marketing-analytics-turning-data-insights
  5. marketingevolution – https://www.marketingevolution.com/knowledge-center/50plus-data-driven-marketing-and-personalization-stats-marketers-need-to-know
  6. sas – https://www.sas.com/en_nz/insights/marketing/marketing-analytics.html
  7. smartinsights – https://www.smartinsights.com/mobile-marketing/mobile-marketing-analytics/mobile-marketing-statistics/
  8. thinkwithgoogle – https://www.thinkwithgoogle.com/marketing-strategies/data-and-measurement/marketing-analytics-performance-statistics/
  9. wikipedia – https://en.wikipedia.org/wiki/Analytics
  10. google – https://marketingplatform.google.com/about/analytics/
  11. amazon – https://www.amazon.com/Marketing-Models-Multivariate-Statistics-Analytics/dp/1502901870
  12. bls – https://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm
  13. mastersindatascience – https://www.mastersindatascience.org/careers/marketing-analyst/

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