Marketing Analytics Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

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.

Please read the page carefully and don’t miss any words.

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

At its core, marketing analytics involves collecting and analyzing data from various sources to evaluate the performance of marketing campaigns and strategies. This data can include customer demographics, purchasing behavior, website traffic, social media engagement, and more. By crunching the numbers and identifying patterns, marketers can gain valuable insights into what is working well and what needs improvement.

One of the key benefits of marketing analytics is the ability to track the ROI of marketing efforts. By measuring key metrics such as customer acquisition costs, conversion rates, and revenue generated from each campaign, companies can optimize their marketing spend and focus on strategies that deliver the best results. This not only helps improve overall efficiency but also ensures that marketing efforts are aligned with business objectives.

Furthermore, marketing analytics can help companies understand their target audience better. By analyzing customer data and behaviors, marketers can create more targeted and personalized communications that resonate with their audience. This can lead to higher engagement rates, increased brand loyalty, and ultimately, more successful marketing campaigns.

Another important aspect of marketing analytics is the ability to measure the impact of various marketing channels. With so many different platforms available to marketers today, from social media to email marketing to traditional advertising, it’s crucial to understand which channels are driving the most value for your business. By analyzing customer touchpoints and attribution models, marketers can determine which channels are most effective at reaching their target audience and driving conversions.

In addition to providing insights into individual campaigns, marketing analytics also enables companies to track long-term trends and forecast future performance. By examining historical data and applying predictive analytics techniques, marketers can identify emerging opportunities and potential threats, allowing them to stay ahead of the competition and adapt their strategies accordingly.

Overall, marketing analytics is a powerful tool that can help organizations make smarter, more data-driven decisions. By leveraging data and technology, marketers can gain a deeper understanding of their customers, measure the impact of their marketing efforts, and stay ahead of the competition. While marketing analytics may not provide all the answers on its own, when used in conjunction with creativity, strategy, and market knowledge, it can be a valuable asset for any organization looking to drive growth and achieve their business goals.

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/

Leave a Comment