Social. Web. SEO. Display. Paid Search. Mobile. Video.
The digital marketing world of today is already a complex space, and getting more complex as we speak. New marketing channels, media, and platforms are appearing every day, and maximizing opportunities means being able to juggle and execute on all the different channels in parallel.
At the same time, pressure on marketers to quantify the results of their efforts and make data-driven decisions is more pronounced than ever before. Marketers today are being asked to measure their marketing results in sophisticated ways across dozens or even hundreds of channels, properties, and platforms.
Challenges of Marketing Complexity
We have been talking with hundreds of marketing organizations large and small, and what we are hearing is consistent: the increasing complexity of marketing measurement has become a massive problem that cannot be put off any longer.
Using data to generate insights requires first assembling the relevant results into the right format, but even that initial (largely thankless) step of wrangling data can be a hugely time-consuming effort. By the time the data is finally pulled together, the results are long out of date and useless for informing campaign optimization.
Below are just a few of the challenges that today’s marketers face.
- Too much time is spent juggling spreadsheets and preparing slides.
- KPIs and category definitions are inconsistent across teams.
- It takes days or weeks to compile results across accounts and data sources.
- Reports are built on generic and outdated templates.
- Breadth and depth of analysis is limited by resource and data issues.
- Identifying performance drivers is difficult or time-consuming.
- Siloed data prevents cross-functional and cross-channel collaboration.
Marketing organizations have been trying to tackle these issues by hiring more people to hack together spreadsheets and custom-built data warehouses, or worse, allocating more time towards reporting and less towards planning, analysis and execution (I hope you agree that this defeats the purpose!)
But now, marketers have another option. A new type of solution called a Marketing Intelligence Platform has risen from the ashes of countless spreadsheets, powerpoint slides, and data warehouses. Instead of trying to place band-aids on an ever-expanding problem, the platform tackles the challenge head on to provide a permanent and scalable answer to measurement complexity.
Next-Gen Marketing Measurement
The marketing intelligence platform has one purpose: enabling marketers to make better decisions, faster. This means allowing marketers to translate raw data into accurate and actionable insights as quickly and as easily as possible, allowing for faster optimization cycles.
There are 5 steps in this process: measuring results, applying context, assessing performance, discovering opportunities, and making decisions. Each of these steps are critical components in achieving marketing agility, as shown below.
To learn more about how you can stop butting heads with your data and start making use of it, download our eBook, Next-Gen Marketing Measurement: An Executive Guide, from the link below.
This guide includes the following information and more:
- The benefits of using a marketing intelligence solution
- How your pain points translate to functional requirements
- A step-by-step guide to creating a requirements framework based on your needs