- 60% of marketers predict Business Intelligence will be the most purchased technology in 2016.
- 46% of marketers say their greatest obstacle is gaining access to more advanced analytics and insight to make smarter decisions.
- Customer-centric focus (79%) leads the top five priorities for marketers in 2016 with reporting & insight from analytics third (61%).
- Tactical campaign performance (+6%) is the single key performance indicator (KPI) that marketing excels at versus C-suite/upper managements’ reporting expectations.
These and many other insights are from Black Ink ROI’s C-Level 2016 Insight Study, downloadable here (opt-in required, 25 pp.). Black Ink ROI’s C-Level 2016 Marketing Study is based on responses from C-level marketers representing the top 2,000 largest companies in the US by annualized revenue. Please see page 4 of the study for a description of the methodology. Nearly 55% of the responders have over $5B in revenue, and represent approximately 30 different industry segments, with collective marketing budget over $11B, including program and labor costs. What’s interesting about this study is how Black Ink ROI designed the study to get beyond firmographics and use company culture as one of the lenses in their cross-tabulation analysis. If marketing technology is an area you are interested in, be sure to follow Scott Brinker’s excellent blog, ChiefMartec.
Key takeaways of the study include the following:
- Customer-centric focus (79%) leads the top five priorities for marketers in 2016 with reporting & insight from analytics third (61%). The study found that investments in analytics to gain greater insight, marketing technology (MarTech) and omnichannel/cross-channel promotion tech spend are lower than marketers require supporting their ongoing strategies. The study predicts that spending on analytics, MarTech and Customer Interaction Software will increase in 2016.
- 60% of marketers predict Business Intelligence will be the most purchased technology in 2016. Marketing automation & campaign management, and customer interaction (both 57%) followed by advanced analytics (45%) and attribution software (32%) are the top five technologies marketers predict will be the most purchased this year. The following graphic compares the top seven technologies ranked in order of likelihood to be purchased.
- CRM (23%), Business Intelligence (15%) and marketing dashboards (13%) are the three most common technologies used for compiling and presenting marketing results. 20% or one in five marketers are using spreadsheets to compile and report results. Automating reporting and getting away from manually updating spreadsheets is a great way to save time and accomplish more.
- Tactical campaign performance (+6%) is the single key performance indicator (KPI) that marketing excels at versus C-suite/upper managements’ reporting expectations. On all other metrics, marketing typically lags behind what C-suite/upper management expects with proof of marketing REOI (-26%) being the largest gap in expectations. Marketers need to get the full use of technologies they are investing in to close the gap in measuring marketing’s contribution to revenue (-22% and contribution to profit ( 19%).