Marketing Analytics Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

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.

Please read the page carefully and don’t miss any words.

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

One of the main benefits of marketing analytics is its ability to provide valuable insights into customer preferences and behaviors. By analyzing data from various sources such as social media, website traffic, and email campaigns, businesses can gain a better understanding of what resonates with their target audience and tailor their messaging accordingly. This ensures that marketing efforts are more targeted and relevant, ultimately leading to higher engagement and conversion rates.

Furthermore, marketing analytics can help businesses identify trends and patterns that can inform future marketing strategies. By tracking key performance indicators (KPIs) such as conversion rates, customer acquisition costs, and return on investment (ROI), companies can evaluate the effectiveness of different marketing channels and campaigns. This data-driven approach allows businesses to allocate resources more effectively and focus on activities that generate the best results.

In addition, marketing analytics can help businesses measure the impact of their marketing efforts on overall business goals. By connecting marketing metrics to financial metrics such as revenue and profit, companies can better understand the return on their marketing investments. This allows businesses to make data-driven decisions about where to allocate resources and how to optimize their marketing efforts for maximum impact.

Moreover, marketing analytics can also be used to track and assess competitors’ performance. By benchmarking against competitors and monitoring market trends, businesses can identify opportunities and threats in the marketplace. This competitive intelligence can inform strategic decisions and help businesses stay ahead of the competition.

Overall, marketing analytics is a powerful tool that can help businesses make smarter decisions, improve performance, and drive better outcomes. By leveraging data and insights, companies can understand their target audience, optimize their marketing strategies, measure success, and stay ahead of the competition. While marketing analytics may require an investment of time and resources, the benefits far outweigh the costs. In today’s fast-paced and competitive business environment, companies that neglect marketing analytics risk falling behind.

In conclusion, marketing analytics is a critical component of modern marketing strategies. By leveraging data and insights to inform decision-making, businesses can gain a competitive edge, drive better results, and ultimately achieve their business goals. In the age of big data, businesses that embrace marketing analytics stand to benefit from improved efficiency, effectiveness, and competitiveness.

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/

Leave a Comment