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