Today's Marketing Analytics Organizations Are Falling Short; MarketBridge Conducts a Study to Understand Why
Newly released benchmark study aimed at giving marketing analytics leaders a comparison to their peers.
BETHESDA, Md., January 12, 2023 (Newswire.com) - MarketBridge, a leading go-to-market consultancy, released its Marketing Analytics Benchmark Study today. This online survey will establish a baseline for the current state of the marketing analytics function across different industries and company sizes.
While marketing analytics as a discipline has grown exponentially over the last decade—with hundreds of billions of dollars spent on technology, data assets, and talent—it still struggles to provide value in many organizations. Furthermore, with a recession likely in 2023, budgets are likely to be cut for teams that can't show concrete value.
"Overreliance on magic bullets, black boxes, lack of analytical skillsets, and sub-par reporting have all contributed to marketing analytics falling short of high expectations," says Andy Hasselwander, Chief Analytics Officer at MarketBridge. "We are trying to help marketing analytics leaders get a sense of where they stand relative to their peers, so they'll be better able to prioritize improvement areas in a constrained budgetary environment."
MarketBridge's new study will act as an important resource for marketing analytics professionals looking to understand where they are on the path to advanced analytics and where they can improve.
The study, which takes approximately 20 minutes to complete, assesses marketing analytics functional capabilities across seven areas: source systems, data pipelines, analytical data storage, business intelligence, data science, organization, and capabilities. All answers remain confidential and will be used to build a detailed benchmark report aimed for launch in the second quarter of 2023.
The benchmark study complements MarketBridge's robust, 40-page whitepaper, "A Roadmap to Modern Marketing Analytics," which details best practices across the seven functional areas covered in the study.
"Although the whitepaper provides a lot of advice for improving data management, structure, and analytics, we want to establish a state-of-the-art baseline at real companies," said Hasselwander. "This will allow analytics leaders to pause and focus on the improvement areas that really matter to assess a baseline of performance."
Participate in the benchmark study here.
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MarketBridge is the management consultancy that Fortune 1000 companies rely on for sales and marketing expertise. The firm empowers clients to develop, measure, and scale revenue performance strategies powered by its proprietary Go-to-Market Science methodology. Recently awarded as MarTech Outlook Magazine's Top 10 Marketing Analytics Solution Providers in 2022, the firm prides itself in its consistent, reproducible, and flexible modern data science framework. To learn more, visit market-bridge.com.
Katie Artz, Director of Corporate Marketing