Three Ways Data-Driven Marketing Improves Performance
According to a survey just completed by ITSMA and Patricia Seybold Group, today’s B2B marketers recognize the importance of data-driven marketing. So what? Well, now we have statistically significant findings supporting that view.
Data savvy organizations outstripped the others in “significantly or somewhat” improving their market share, average time to revenue, and sales costs per order dollar over the last two years. That’s hard data that associates leadership in data-driven marketing with market and sales performance increases. While we found no such relationship to revenue or profitability, that may come in time as marketing data gets more widely used in organizations.
There is a thoughtful post by Neil Mason republished in ClickZ this week on this subject. His title: The price of light is less than the cost of darkness. The cost of darkness (i.e., not knowing information gleaned from the data) is getting higher. As more companies invest in the technologies, processes, and leadership needed to excel at data-driven marketing, the harder it will be to compete if you haven’t adopted new practices.
The ways that marketing organizations get data savvy, is the topic of an upcoming webcast by ITSMA and Patricia Seybold Group. It answers the question, “what does it take to become a data savvy marketing organization?” and addresses survey findings on technology, processes, organization, and more. Mark your calendar for May 17, 2011 at 11 a.m. Complimentary for ITSMA members. Register here.
If you want to learn more about the results and can’t make the webcast, send me an email.