CEOs Pushing Marketing For Measurements

The annual Ifbyphone State of Marketing Measurement Survey identifies what successful marketers are doing and how they’re doing it to grow their business. The survey is the leading report in the sector with hundreds of marketing decision makers contributing their feedback. The 2014 survey examines trends in how often CEOs are looking for marketing activity reports, the diversity of channels being measured, and how marketers plan to invest in technology platforms in the future.

According to the Ifbyphone 2014 State of Marketing Measurement Survey 75% of respondents describe their CEO as “totally committed” or “significantly committed” to supporting their marketing teams, up 8% from 2013. The number of respondents tracking weekly or monthly marketing metrics jumped 6% in 2014. CEOs desire all marketing activities to be continuously measured and decision making to be founded on strong statistical evidence.

CEO Support For Marketing

Commitment

2014

2013

Totally Committed

38%

34%

Significantly Committed

37%

33%

Somewhat Committed

13%

18%

Little to No Commitment

7%

9%

Don’t Know

5%

5%

Ifbyphone State of Marketing Measurement Survey, May 2014

With this involvement comes increased demand for a more pragmatic approach to marketing campaigns, focusing on conversion and return on investment (ROI), says the report. The most measured attributes include:

  • Growth in sales revenue (69%),
  • Number of new customers (63%),
  • Number of new leads (58%).

The least measured metrics include:

  • Increase in awareness (22%)
  • Brand perception (21%)
  • Purchase intent (11%)

To satisfy increasingly involved CEO leadership, marketers must align their priorities with those of the CEO to effectively generate the desired marketing measurement results. In the past year, the proportion of marketers measuring their marketing activities has increased across all channels. Between 2013 and 2014, focus and measurement of sales revenue growth jumped the most with a 20% boost.

Primary Tools In The Modern Marketer’s Toolkit

Tools

% of Respondents

Web analytics

73%

SEO and PPC tools

63%

Customer relationship management (crm)

52%

A mobile or responsive website

46%

All tracking solutions

38%

Marketing automation

34%

Ifbyphone State of Marketing Measurement Survey, May 2014

CEOs have a significant influence in marketing decisions. In fact, says the report, as CEOs become more ingrained in marketing processes, and more committed to the role marketing data can play in organizational decision making, CEOs have become rapidly aware of technology advancements in marketing automation that enhance the ability to report more marketing information more frequently.

The most popular marketing measurements in 2014 are focused on tracking marketing’s contribution to increases in sales. A significant proportion of respondents are also reporting the number of new customers generated by marketing activity. Almost six in ten marketers are measuring new sales leads, and more than half are tracking increases in web traffic that result from marketing campaigns, says the report.

Range Of Marketing Metrics Measured By Respondents

Marketing Metric

2014

2013

Increase in sales/revenue

69%

49%

Number of new customers

 63%

49%

Number of new leads

58%

43%

Increase in website traffic

53%

35%

Conversion rate (conversion funnel)

46%

41%

Marketing ROI

45%

40%

Cost per lead

36%

38%

Increase in customer retention

31%

22%

Customer acquisition cost

29%

34%

Quantified increase in awareness

21%

12%

Quantified increase in brand perception

21%

10%

Quantified increase in purchase intent

11%

5%

Ifbyphone State of Marketing Measurement Survey, May 2014

The ability of marketers to track their ROI for high-value sales channels is likely to become increasingly important as CEOs push for sales growth and market expansion in 2014. This environment will place a greater emphasis on the integration of marketing measurements of offline and online channels to best track high-value sales opportunities.

High-value marketing channels such as real world marketing interactions at conferences and tradeshows remain important to four in ten marketers, a proportion that is unchanged from 2013. In addition:

  • Marketers value online channels to generate high quality leads. SEO and PPC sees a 9% increase in popularity, from 46% in 2013 to 55% today. Social media receives a 7% improvement year-on-year, while online display/banner ads increase 5%
  • There is a growing interest in mobile platforms for the purpose of generating high-value sales leads. Mobile advertising (not tracked in 2013) is identified as a source of high-quality sales leads by more than one in ten marketing decision makers today

Marketing Channels Preferred For Sourcing High-Value Leads

Marketing Channel

2014

2013

Variation

Email marketing

57%

54%

4%

Search Engine Optimization Pay Per Click

55%

46%

9%

Social media

44%

37%

7%

Conferences, tradeshows and events

39%

39%

0%

Direct mail

26%

28%

-1%

Online display/banner ads

25%

20%

5%

Public relations

23%

28%

-5%

Webinars

22%

20%

2%

Offline media: Print ads

16%

14%

2%

Mobile ads

11%

N/A

N/A

Offline media: TV

9%

5%

4%

Content syndication

8%

9%

-1%

Offline media: Radio

6%

6%

0%

App stores

3%

3%

-1%

Ifbyphone State of Marketing Measurement Survey, May 2014

The growth in mobile marketing is widely reported in the media, but this report noted that only one in ten marketers are currently measuring the value of mobile ads. The future potential for marketers to track increasing amounts of marketing data via mobile device usage is clear.

In almost every marketing measurement category, with the exception of direct mail, mobile marketers report more measurements than the general respondent population.

Due to the way data-rich mobile devices are increasingly used for digital content, some of the biggest increases in measurement by mobile marketers are in online channels such as email, social media and SEO/PPC. Interestingly, mobile marketers are also significantly more likely to measure the results of offline TV advertising, suggesting a strong correlation between these two marketing channels as consumers watch TV while interacting with brands, ads, and other consumers via their mobile devices.

Percentage Of Mobile Marketers Measuring Other Marketing Channels

Channel

General Respondents

Mobile Marketers

SEO/PPC

55%

69%

Social media

44

69

Email marketing

57

64

Online display/banner ads

25

51

Conferences/events

30

40

Offline media: TV

9

31

Public relations

23

29

Webinars

22

27

Offline media: Print ads

16

27

Content syndication

8

24

Offline media: Radio

6

24

Direct mail

26

20

App stores

3

11

Ifbyphone State of Marketing Measurement Survey, May 2014

Just 46% of marketers are currently using mobile web measurement tools to report on marketing channels accessed via a mobile device. CRM solutions that can track and provide CEOs with frequent reporting on in-person sales conversions are currently used by just 52% of marketers, while call tracking technologies that can measure the value of inbound phone call inquiries are deployed by 38% of respondents. 42% of respondents are still lack marketing personnel who can deliver the measurement objectives of the CEO.

Challenges That Impact Ability To Effectively Measure Marketing

Challenge

2014

2013

Variation

Lack of marketing personnel resources

42%

35%

7%

Lack of measurement prioritization

42%

40%

2%

Lack of data collected due to manual systems

37%

38%

-1%

Lack of automated marketing measurement tools

33%

33%

0%

Lack of integration with sales

33%

32%

1%

Lacking viable process for measuring and reporting

31%

33%

-2%

Lack of call tracking data

24%

26%

-2%

Ifbyphone State of Marketing Measurement Survey, May 2014

When asked what they would need to be more successful in measuring marketing ROI during the year ahead, more marketing automation tools is one of the least pressing. Of a higher priority is the need for more budget, and better alignment of marketing with sales.

Requirements To Be More Successful In Measuring Marketing ROI In 2014

Need For Success

2014

2013

Variation

More attention to the measurement process

42%

48%

-6%

More budget

39%

32%

7%

Better alignment with sales

37%

33%

4%

 More measurement data

37%

34%

3%

More trained marketing personnel

36%

8%

-2%

More marketing automation tools

34%

40%

-6%

More executive-level involvement

17%

16%

2%

Ifbyphone State of Marketing Measurement Survey, May 2014

For additional information from Ifbyphone and access to the PDF file, please visit here.

 

 

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