March 15, 2010Study finds online marketers still flying blind, despite rise in spending
Study finds online marketers still flying blind, despite rise in spending
By SearchSMBAsia Editors | Feb 5, 2010
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PrintA new study finds that while most marketers report a desire to use online data to personalize their marketing efforts and deliver tailored offers to their customers, their current technology use does not support this goal.
Furthermore, there is a marked discrepancy between marketers’ need to manage metrics and their confidence in the accuracy of the data, reveals the "The Face of the New Marketer" study which was conducted on Coremetrics’ behalf by Bloomberg BusinessWeek Research Services.
About three quarters of marketers report that using various online tools for personalization is a priority and 81% claim that it’s very important for them to increase visitor value through compelling product and content offerings. Yet only half report they currently use online personalization tools (51%). This suggests that the information and data gathered through online marketing efforts is not being utilized to its full potential.
"Business leaders are aware of the value online marketing provides, but there is a disconnect in that many are not sure they are utilizing it effectively,” says John Squire, chief strategy officer, Coremetrics. “Companies that can harness marketing technology can then get the most meaning and value out of the data they collect from it. In turn this enables companies to personalize their marketing efforts and create a competitive advantage."
While spending on online marketing efforts has increased, most marketers lack confidence that they are using the right metrics to gauge marketing success and value. When asked how they would evaluate marketing success at the end of 2009, nearly half (47%) said "meeting our key performance indicators." However, well over half of marketers (62%) claim they are not confident they are tracking the right metrics for online marketing performance—a significant discrepancy.
Other key findings of the study include:
The two top challenges facing marketers are:
- Obtaining an integrated view of customers across online marketing touch points (45%)
- Interpreting the resulting data (41%)
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