Secrets Of Successful Marketing Analytics Adoption
When Duke University’s Fuqua School of Business released its latest edition of The CMO Survey recently, it revealed a curious paradox. Some 500 U.S. chief marketing officers surveyed said they expect to increase – and in fact dramatically increase – their spending on marketing analytics over the next three years. Currently, marketing organizations spend an average of about 6% of marketing budgets on analytics, which is expected to hit 10% within three years. That’s to make sure the other 90% is optimally invested and the right customers are being offered the right things.
But here’s the paradox: Even as marketers allocate more money to analytics, efforts to apply analytical learnings to organizational decision-making are lagging well behind. In other words, there’s still a big gap in extracting the real value in big data. That gap, I would wager, results from what I call “institutional lethargy” – the tendency toward status quo that keeps organizations from making the changes they need to make. Read More
Posted on July 25, 2013, in #marketing and tagged chief marketing, duke university, fuqua school of business, marketing, marketing secrets, successful marketing tips. Bookmark the permalink. 2 Comments.