John Squire, chief strategy officer, Coremetrics, says "... companies that can harness marketing technology... (and) get the most... value out of the data they collect... enables (them) to personalize their marketing efforts and create a competitive advantage."
Most marketers lack confidence that they are using the right metrics to gauge marketing success and value, says the report. When asked how they would evaluate marketing success at the end of 2009, 47% said "meeting our key performance indicators." However, 62% of marketers claim they are not confident they are tracking the right metrics for online marketing performance.
Other key findings in "The Face of the New Marketer" include:
The two top challenges facing marketers are:
The three areas that have seen the biggest spending increase this year are:
67% of marketers indicated that marketing has always been viewed as critical in their organization, and only 19% say that marketing is seen as discretionary.
The three most commonly used forms of online marketing are:
The three most commonly used marketing measurement tools are:
97% of marketers say it is important for their organization to collaborate to better target customers. However, only about half indicate that this is an easy process. The biggest barriers to collaboration are:
Squire concludes that "Business leaders are aware of the value online marketing provides, but... many are not sure they are utilizing it effectively."
To read more about the research conducted by Bloomberg BusinessWeek Research Services in conjunction with Coremetrics, please visit here.