CMOs have a variety of ways to obtain data that
guide their decision-making, though many are frustrated with the lack of tools to gain insights, the CMO Council and market researcher GfK found in a global survey of marketing leaders
. Among the data that help marketers
to improve key performance indicators (KPIs), media metrics were ranked as the most significant. About two-thirds (67%) of marketing leaders worldwide said content response and conversion data are
helpful, and 64% said ad performance metrics were helpful. “Content response can lead to customer conversion, acquisition and repeat purchases,” according to the report.
“Getting the right content to the right person at the right time can build toward a shortlist, a call to a sales rep or even an ecommerce transaction. Content response is a marketing KPI that
moves the revenue needle.” Only 39% of respondents said their social media following was a significant data point, and a mere 36% considered customer lifetime value (CLV) important for
measuring performance. CLV metrics aim to quantify how much money customers will spend on a brand during their lifetime. Marketers say they face a variety of hurdles in obtaining useful data.
Almost three quarters (73%) of survey respondents bemoaned insufficient marketing technology as a barrier, while 60% said lack of data management processes were concerning. “The
challenge is choosing the right solution from a sea of options,” according to the report. “The 2022 martech landscape is nearing 10,000 solutions and data marketers are overwhelmed with