Archive for Data Analysis

56% of CMOs expected budgets to have grown more than 5 to 15% by the end of 2021

The Report “5 Strategic Priorities for CMOs”* suggests strategies for corporate marketing professionals faced with constraints on capacity, capital and capabilities in challenging times.

It finds that optimism among CMOs is out of sync with the expectations of boards of directors and CFOs.

Over half of CMOs expected their budgets to grow more than 5% in 2021, with a quarter expecting increases over 15%.

In stark contrast, Gartner’s research shows that marketing is likely to face significant budget cuts as the health and societal impacts of COVID-19 continue to impact companies’ marketing spend and strategy well into 2021.

At Anaylin we are better placed than most to help bridge that gap between optimistic expectations and harsh economic realities. We can deliver a full range of marketing insights and analytics to hard-pressed CMOs at a lower cost, without sacrificing any of the benefits from bringing sense and value to your data across the board.

As a knowledge-based, integrated ‘Digital and Data Boutique’ we’re passionate about data management, and committed to making a difference to your customers’ experience and to your bottom line.

That’s our core area of expertise, gained at some of the most respected customer brands, marketing agencies and data consultancies both in the UK and internationally.

We audit and benchmark across the whole data landscape: your customer database management systems, data structure and access, external data enhancement, integration of traditional research, analytical tools and methodologies.

And our lean structure and tightly controlled operating overheads mean we can deliver a premium service at an affordable price.

Gartner’s report recommends that marketing professionals and CFOs agree realistic budgetary provisions and build scenarios that anticipate varying levels of cost cutting.

It also advises prioritizing investment in key organizational areas such as digital business.

Our recommendation would be to find time for an exploratory discussion with our Directors to discover how we can make ends meet, satisfying the demands of both the business and the budget.

Wherever you are with your budgets get the best performance from your data, call Neal at Anaylin we know where to look to get the best from your budget neal@anaylin.com

 

*Gartner’s 2021 Report

Challenges that arise when carefully drawn marketing plans are brought down by unforeseeable events.

 As data analysis and management professionals, Anaylin are voracious consumers of statistics – so when Gartner published their Marketing Data and Analytics Survey 2020 at the beginning of this year, we were keen to see what trends they had identified.

Of course, the past year has changed so many aspects of life and business, in ways which could not have been anticipated at the time the survey was under way.

Using the 2019/20 survey* conclusions we took the decision to record our initial reactions and analysis of the results with that in mind, and later return to the issues raised with the benefit of hindsight.

This hindsight approach highlights the challenges that arise when carefully drawn marketing plans are disrupted by unforeseeable events. It will help us to deliver our own customers’ Marketing Analytics requirements more effectively in the new circumstances.

We are now using this as one of the benchmarks for assessing the threats and opportunities all data-focused Marketing Professionals now face, which can help them to revise their strategies going forward.

Here then is our initial response to the survey.

Gartner’s Annual Marketing Survey results could make for grim reading for some companies – yet optimism persists, despite the results produced by Marketing Analytics often falling short of expectations…

The Gartner shows that spend on Marketing Technology (MarTech) remained strong, accounting for 26.2% of marketing budgets despite, or perhaps because of, the uncertain times.

Digital channels accounted for almost 80% of those MarTech budgets in 2020, with predictive analysis and data management at the heart of most successful campaigns. And to support more advanced data analysis capabilities, 44% of respondents anticipate growing their database marketing team over the next two years, hoping to improve business outcomes.

Yet Gartner’s parallel and complementary CMO Spend Survey 2019 – 2020 reveals that over half of senior marketing leaders were unimpressed with the results they received from their investments in marketing analytics.

So will increasing in-housing investment help more optimistic CMOs master data management and avoid the disillusionment felt by their peers, who are unconvinced of the value offered by their database managers?

Here at Anaylin, we don’t support either strategic mindset – but then, as a boutique data analytics agency, we would say that, wouldn’t we?

We have always believed (and repeatedly demonstrated) that expertly analysed and managed data can revolutionise marketing results, and our clients have certainly expressed their satisfaction with the way we go about it.

Trying to master data management by bringing the work in-house inevitably involves more financial risk than relying on a contracted partner.

It requires long-term investment in recruiting and retaining suitably skilled talent, choosing and installing the necessary technology, and establishing new working practices and project management capability.

Outsourcing remains a strong contender for the most effective means of implementing a powerful database marketing strategy. And choosing a lean, expert provider of marketing analytics can prove to be a cost-effective one too.

We would love to show you how we work closely with our clients, and how we can build a solid foundation that could work for you! Contact Neal Muranyi at Anaylin

 

* Gartners 2019/20 Survey

When are two heads better than one?…

Less than 40% of CMOs wish to increase their financial acumen and digital know-how.

As data digital marketing specialists here at Anaylin, we were initially rather surprised to read this particular result in Gartner’s 2021 Report “5 Strategic Priorities for CMOs”. 

Why did the Chief Marketing Officers taking part say they were not looking to sharpen their skills in such business-critical areas as financial acumen and digital know-how?

After giving it some thought, we’ve come up with two possible explanations as to why this may not be as surprising as it at first seemed.

The first: based on a predictable reaction when asked if we need to get better at what we do every day. We naturally believe we have already developed the skills we need to a high degree, and don’t feel comfortable about admitting there’s room for improvement, even in an anonymous survey!

The second: explanation concerns our own role here at Anaylin, as a knowledge-based, integrated ‘Digital and Data Boutique’, providing outsourced marketing data management services to CMOs and their departments. We like to think that the CMOs who don’t feel they need to increase their ‘digital know-how’ would include our Anaylin clients. They rely upon us to stay up-to-date with current trends and developments in our field on their behalf, bringing our cutting-edge industry knowledge of marketing insights and analytics to the table to share with them and their teams.

The survey recommends that CMOs conduct honest self-assessments of their own personal skill set and strengthen any areas of weakness in support of digital business initiatives.

Our clients choose to achieve better results by partnering with Anaylin, because they know that two heads are better than one!

To join them, and stay ahead of the game, contact Neal Muranyi

CMOs Share Their Top 10 Reasons for Side-lining Data Analysis, what would be your top 3?

 

A recent Survey* asked CMOs for reasons they might choose not to use Analytics to inform key business decisions. Can you guess the top 3 reasons given from this shortlist of the ten most common responses:

In no particular order

  1. Results of Analysis Are Not Actionable
  2. Analysing Data Takes Too Long
  3. Data Findings Conflict with Intended Course of Action
  4. Analysis Does Not Incorporate Different Sources of Data
  5. Analysis Does Not Account for Business Context
  6. Poor Data Quality
  7. Lack of Access to Sales or Conversion Data
  8. Analysis Does Not Present a Clear Recommendation
  9. Decisions Are Driven by Our Trading/Promotional Calendar
  10. Analysis Is Too Difficult to Understand

In these uniquely testing times, every CMO has been called upon to revise their data management strategy to deal with unforeseen obstacles and delays. Significantly though, investment in marketing analytics shows no signs of slowing down, despite the challenges involved.

IN FACT, to meet the demands of greater automation and personalisation, 73% of CMOs said they plan to increase their investment in data sourcing, integration and management, and advanced analytics during the next financial year.

Do any of the above reasons given strike a chord with you?  And how far are they likely to impact your own strategy going forward?

We would love to hear your informed judgement and perceptions around the importance of data analytics and have a chance to share with you how, by drawing on Anaylin’s experience and resources, you could make them work better to support your marketing activities in the year ahead.

Email Neal for more on how Anaylin is working with clients to managing and analysing data so they can make informed decisions. Also, Neal will be able to tell you what the top 3 reasons are.

Here is a clue, the 3rd most popular reason was ‘Analysis Does Not Present a Clear Recommendation

 

 

* Gartner Marketing Data and Analytics Survey 2020