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

The usefulness of marketing analytics lies in its ability to provide businesses with a deeper understanding of customer behavior and preferences. By tracking key metrics such as website traffic, click-through rates, conversion rates, and social media engagement, companies can identify trends, patterns, and opportunities to optimize their marketing efforts and drive better results.

Moreover, marketing analytics enables businesses to make data-driven decisions that are based on facts rather than assumptions. By analyzing customer data and campaign performance metrics, organizations can determine which marketing channels are most effective in reaching their target audience, which messaging resonates with customers, and which tactics are generating the highest return on investment.

In addition, marketing analytics allows businesses to track and measure the performance of their marketing campaigns in real-time. This real-time data can help companies quickly identify underperforming campaigns and make adjustments to improve their effectiveness. It also enables businesses to test different messaging, creative elements, and targeting strategies to optimize their marketing efforts and maximize their ROI.

Furthermore, marketing analytics can provide businesses with valuable insights into their competitors’ marketing strategies and performance. By monitoring competitor activity, businesses can identify untapped market opportunities, anticipate competitive threats, and gain a competitive advantage in their industry.

Overall, the usefulness of marketing analytics cannot be overstated. It provides businesses with the tools they need to understand their customers, measure the impact of their marketing campaigns, and make informed decisions that drive success. In today’s fast-paced, data-driven world, organizations that leverage marketing analytics effectively are better positioned to stay ahead of the competition and achieve their business goals.

As technology continues to evolve and data becomes increasingly abundant, the importance of marketing analytics will only continue to grow. Organizations that invest in the right tools, technologies, and talent to analyze and interpret their data will be well-positioned to thrive in today’s competitive marketplace. Marketing analytics is not just a valuable tool for businesses – it is essential for success in the digital age.

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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