Jan 26, 2023 7:06:21 PM | Analytics Essential Marketing Analytics Statistics for 2024

Do you want to use data and analytics to measure your marketing success? Learning the data-driven marketing metrics will help drive successful outcomes.

Marketing analytics is becoming more and more important in today’s environment. Companies are now able to track their customer journeys, target customers through intention-based segments, optimize ad spending for maximum ROI, and more. With the help of marketing analytics tools, you can make informed decisions about your business and take it to a new level of growth.

Whether you're involved with creating content or running campaigns, having a deep understanding of marketing analytics statistics is essential for long-term success. 

In this article, we'll explore some of the most important marketing analytics stats for your business to know. So let's dive into the data and discover how these insights can inform your marketing decisions!

25 Marketing Analytics Stats for your Business to Know

Analytics is all about gaining insight from the data you collect. And we have some data on hand about marketing analytics — data that can help you see the value in analyzing your current marketing campaigns.

1. According to the CMO survey, only 1.9% of marketing executives said their businesses had the skills to use marketing analytics.

A relatively small percentage of marketing executives (1.9%) believe that their businesses have the necessary skills to effectively use marketing analytics.

This can mean that many companies have not yet fully embraced the use of marketing analytics or lack the resources or expertise to do so. The use of analytics can enable companies to better understand and target their customers, optimize marketing campaigns, and measure the ROI of their marketing efforts. Without the proper skills or resources to effectively use analytics, companies may be missing out on valuable insights and opportunities for growth.

Additionally, this statistic might indicate a gap in the market for marketing analytics training, resources, or consulting services. As the use of data and analytics become increasingly important in the marketing industry, companies that lack these skills may be at a disadvantage.

In any case, this statistic suggests that many companies are not yet taking full advantage of the power of marketing analytics and may need to invest in the necessary resources and skills to do so to stay competitive and drive business growth.

2. 72% of marketers think that content improves client retention.

Content is king, and it's no surprise that 72% of marketers think content improves client retention. This statistic highlights the importance of creating high-quality, relevant content that resonates with your target audience.

When creating content, it's essential to understand the needs and wants of your audience. By providing valuable information, you can establish trust with your clients and keep them coming back for more. Content that is tailored to their interests and pain points will also help increase engagement and promote brand loyalty.

Another key factor in client retention is consistency. Regularly publishing new and relevant content will keep your clients engaged and interested in your brand. This can be in the form of blog posts, newsletters, webinars, or social media updates. By consistently providing valuable content, you can build a strong relationship with your clients, encouraging them to stick around for the long term.

In addition to improving client retention, content can also help drive traffic to your website and generate leads. By optimizing your content for search engines, you can attract new clients and expand your reach. This is a great way to increase brand visibility and attract new business.

3. Google Analytics, allows looking at data across platforms (web and app). It also allows cutting out reporting time by 50%.

The statistic that "Google Analytics allows looking at data across platforms (web and app) and cutting out reporting time by 50%" highlights the power and versatility of this popular analytics tool. By using Google Analytics, businesses can easily track and analyze data from both their website and mobile app in one central location. This eliminates the need for multiple analytics tools and streamlines the data collection process.

Additionally, the 50% reduction in reporting time is a significant benefit for businesses that rely on accurate and timely data to make informed decisions. With Google Analytics, businesses can quickly and easily access the data they need without spending hours creating custom reports.

This feature also allows businesses to make data-driven decisions faster and more effectively. Whether it's measuring the effectiveness of a marketing campaign, identifying trends and patterns in customer behavior, or monitoring the performance of a website or app, Google Analytics provides valuable insights that can help businesses grow and improve.

Overall, the ability to track data across platforms and cut down on reporting time makes Google Analytics a valuable tool for any business looking to gain insights and make data-driven decisions. It is a powerful tool that can help businesses in improving their online presence, monitor their online performance, and make data-driven decisions.

4. A recent Google survey showed that over 70% of people described themselves as channel-agnostic, meaning they were more flexible about whether they buy offline or online.

the growing trend of consumers becoming increasingly comfortable with shopping across different channels, both online and offline. It suggests that consumers are becoming less loyal to specific channels and are more open to using different channels to make a purchase, depending on their convenience and the availability of the product or service.

This shift in consumer behavior has important implications for businesses, as it means that companies need to be more flexible in their approach to sales and marketing and be able to reach customers through a variety of channels.

Additionally, it also means that companies must be able to provide a seamless experience across different channels and make it easy for customers to move from one channel to another. This could include, for example, allowing customers to start a purchase online and complete it in-store, or allowing customers to place an order online and pick it up in-store.

This insight underscores the importance of companies being able to provide a consistent and convenient experience for customers across different channels to meet the changing demands of today's consumers.

5. According to the AMA’s 2021 CMO survey, the marketing environment is also getting increasingly digital, with digital marketing accounting for close to 60% of marketing spending.

The world of marketing is constantly evolving and adapting to new technologies and trends. One trend that has been gaining traction in recent years is the shift toward digital marketing.

According to the AMA's 2021 CMO survey, digital marketing now accounts for close to 60% of marketing spending. This is a significant increase from previous years and indicates the growing importance of digital marketing in today's business landscape.

The rise of digital marketing can be attributed to several factors. One of the main reasons is the increasing use of smartphones and other mobile devices. With more and more people accessing the internet through their mobile devices, it's become crucial for businesses to have a strong online presence. This includes having a website that is optimized for mobile, as well as a presence on social media and other digital platforms.

Another reason for the shift towards digital marketing is the ability to track and measure results in real time. With tools like Google Analytics, businesses can gain insights into how their digital marketing campaigns perform and adjust accordingly. This allows for more effective targeting of customers and more efficient use of marketing budgets.

6. The US Bureau of Labor Statistics predicts that during the next eight years, total employment for advertising, promotion, and marketing managers will increase by 10% annually, producing 31,100 new positions.

The US Bureau of Labor Statistics predicts significant growth in the field of advertising, promotion, and marketing. According to their predictions, total employment for managers in these areas will increase by 10% annually, producing 31,100 new positions in the next eight years.

This indicates a strong demand for professionals with expertise in advertising, promotion, and marketing. Companies are recognizing the importance of these roles in reaching and engaging with their target audience, and are investing in building teams to drive their marketing efforts forward.

This growth in employment opportunities is a positive sign for professionals looking to enter the field or advance their careers in advertising, promotion, and marketing. It also highlights the need for companies to stay current with the latest marketing trends and techniques to stay competitive in the industry.

This is a great time for professionals to take advantage of the increasing opportunities available in this field and for companies to invest in their marketing teams.

7. About 99,800 openings for market research analysts are projected each year, on average, over the decade.

The demand for market research analysts is projected to grow significantly in the coming years. According to the US Bureau of Labor Statistics, there are expected to be an average of 99,800 openings for these professionals each year over the next decade.

This can be attributed to the increasing need for businesses to understand their customers and the marketplace to make informed decisions. As more companies recognize the value of market research in driving business growth, the need for skilled analysts to conduct and interpret this research will continue to rise.

With this high demand for market research analysts, those with skills in data analysis, statistics, and research methodology will be in a good position to take advantage of the opportunities in this field.

Additionally, those who can demonstrate expertise in specific industries or markets, such as healthcare or technology, will be particularly well-suited for these roles. As the business landscape continues to evolve, the need for market research analysts will only continue to grow, making it an exciting and promising career path for many.

8. 57% of marketers are probably deriving the wrong conclusions from data by erroneously interpreting it.

A significant portion of marketers may not be fully understanding or interpreting the data they are collecting correctly. This could lead to incorrect conclusions about consumer behavior or market trends, which could negatively impact marketing strategies and campaigns.

To avoid this issue, marketers need to ensure they have the proper training and resources to accurately analyze and interpret data. Additionally, they should also consider working with data analysts or experts to help guide their interpretation of data and ensure they are making informed decisions based on accurate information.

9. Data analytics are vital, according to 66% of marketers, and 63% agree that data literacy is important.

Data analytics is considered vital by 66% of marketers, which highlights the importance of understanding and utilizing data in today's marketing landscape. This highlights the significance of data literacy, with 63% of marketers agreeing that it is important. This suggests that many marketers recognize the need to have a deep understanding of data and how to analyze it to make informed decisions and drive business growth.

However, the statistic that 57% of marketers are probably deriving the wrong conclusions from data by erroneously interpreting it, is a cause for concern. It shows that despite the importance of data analytics, many marketers are still struggling to understand and interpret the data they collect, leading to incorrect conclusions and potentially detrimental decisions. This highlights the need for marketers to be trained and educated on data analysis and interpretation, to make the most of the data they collect.

10. In the next two years, 81% of marketers say they anticipate competing mostly or exclusively based on customer experience.

As competition increases and technology advances, marketers recognize the need to differentiate themselves through the experiences they provide to customers. By focusing on customer experience, companies can increase loyalty, build brand advocacy, and drive revenue growth.

In the next two years, a large majority of marketers expect to compete primarily or solely based on the customer experience they can offer, indicating the significance and priority placed on this aspect of their strategy.

11. About 3 out of every 4 marketing leaders surveyed (76%) base decisions on data analytics.

Data analytics is becoming an increasingly important tool for marketing leaders. They rely on data to make informed decisions about their marketing strategies and tactics.

According to a recent survey, a majority of marketing leaders (76%) reported basing their decisions on data analytics. This indicates that the importance of data-driven decision-making is widely recognized among marketing professionals.

The use of data analytics allows marketers to gain insights into consumer behavior and make informed decisions on strategy, targeting, and campaign creation.

Furthermore, this shift towards data-driven decision-making is likely to continue to grow as more and more companies are recognizing the value of using data analytics to make better decisions.

12. Even though many firms are beginning to see the benefit of marketing analytics, 37% of marketers believe that one of their top three issues is demonstrating that value.

Marketing analytics has become an essential tool for businesses to gain insights into consumer behavior and improve their marketing campaigns. However, despite the growing popularity of marketing analytics, 37% of marketers still face challenges in demonstrating its value to their organization. This is likely due to a lack of understanding or knowledge about how to effectively use marketing analytics to make data-driven decisions.

One possible solution to this issue is to invest in training and education for marketing professionals so that they can better understand and utilize marketing analytics tools. Additionally, companies may want to consider implementing a formal process for analyzing and reporting on marketing data, which can help to communicate the value of marketing analytics to decision-makers.

Overall, companies need to understand that marketing analytics is a valuable tool that can help them improve their marketing efforts and drive better business results. With the right knowledge and approach, companies can demonstrate the value of marketing analytics and make data-driven decisions to improve their marketing campaigns and grow their business.

13. Leaders are 53% more inclined to believe that machine learning helps marketing teams analyze data to determine the intentions of consumers.

Leaders in the marketing industry see the potential value in using machine learning to analyze consumer data. As data becomes increasingly complex and voluminous, traditional methods of analysis may not be sufficient to fully understand consumer behavior and intent.

Machine learning, with its ability to process and analyze large amounts of data, can help marketing teams gain a deeper understanding of their customers.

This is particularly important for leaders, who are more likely to see the value in utilizing machine learning for data analysis. By gaining a better understanding of consumer intent, leaders can make more informed decisions about their marketing strategy and potentially achieve better results.

This highlights the need for companies to invest in machine learning technologies and for marketers to upskill themselves in machine learning to stay ahead of the curve.

14. Making up their biggest campaign-related line item, marketers spend 15.9% of their advertising expenditure on branding.

Branding is a significant investment for marketers. They recognize the importance of building a strong brand to stand out from competitors and create a positive reputation for their company.

Branding also helps differentiate a company's products or services from its competitors. This statistic shows that marketers are placing a significant emphasis on building and maintaining their brand through their advertising efforts.

Additionally, it could indicate that marketers believe investing in branding can lead to a strong return on investment. It also shows that branding is a significant part of their budget in marketing campaigns.

15. With 16% of their yearly expenditures going toward it, marketing analytics is the most expensive investment for marketers.

Marketers place a high value on data analytics and are willing to invest a significant portion of their budget into it. This could be because they recognize the importance of data in making informed decisions and understanding consumer behavior.

Additionally, it may indicate that marketers are looking to gain a competitive edge by utilizing advanced analytics tools and techniques. The high investment in marketing analytics may also reflect the growing complexity and volume of data that companies are facing.

To extract insights and make sense of the data, they are willing to invest in the necessary resources. As the market becomes increasingly data-driven, investing in marketing analytics may prove to be a smart move for companies looking to stay ahead of the competition.

However, it also suggests that some marketers may be struggling to justify the cost of analytics to their organizations. Demonstrating the value of analytics can be a challenge, and it seems that 37% of marketers are facing this issue. This highlights the need for marketers to communicate the benefits of analytics and how it can drive business growth.

16. Paid search represents about 39% of a business’s total marketing budget.

Paid search is an important part of a business's marketing strategy, as it represents a significant portion of the overall marketing budget. According to the statistic, paid search accounts for 39% of the total marketing budget.

This highlights the importance of paid search as a tool for driving traffic and generating leads for a business. To make the most of this investment, businesses should focus on developing effective and targeted paid search campaigns that reach their target audience and drive conversions.

Additionally, this statistic also indicates that paid search is a competitive and expensive channel. With such a high percentage of the budget going towards paid search, businesses need to be strategic in their approach to ensure they are getting the best return on investment.

This could mean focusing on more cost-effective tactics, such as optimizing campaigns for conversions and focusing on ROI-driven metrics. By focusing on what works, businesses can maximize their budget and drive more revenue from Paid Search.

17. The amount of effort spent manually gathering and preparing data was deemed to be a hindrance to team effectiveness by 37% of respondents in Gartner’s latest Marketing Data and Analytics Survey.

Many marketers find the manual process of gathering and preparing data to be a significant obstacle to their team's productivity.

Gartner's latest Marketing Data and Analytics Survey revealed that 37% of respondents found that the effort spent on manually gathering and preparing data was a hindrance to team effectiveness.

This highlights the need for automation and efficient tools to streamline data collection and preparation, allowing teams to focus on more strategic tasks such as analysis and decision-making.

Investing in technology to automate data gathering and preparation can also help to increase the accuracy and consistency of data, which is essential for making sound business decisions. This is particularly important as the volume and complexity of data continue to grow.

Automating the data collection and preparation process can help marketers to save time and resources, allowing them to focus on making better use of the data they have.

18. 32% of marketers said that competition and marketing analytics were the most crucial elements supporting their marketing initiatives during the previous 18 months.

Marketing analytics is becoming increasingly important in today's competitive business landscape. According to a recent survey, 32% of marketers said that competition and marketing analytics were the most crucial elements supporting their marketing initiatives during the previous 18 months. This highlights the need for businesses to understand and use data to inform their marketing strategies to stay ahead of the competition.

One of the key challenges facing marketers today is the manual effort required to gather and prepare data. This can be a hindrance to team effectiveness, as 37% of respondents in Gartner’s survey noted. This highlights the need for businesses to invest in technology and tools that automate the data gathering and preparation process, to free up time and resources for more strategic tasks. With the right tools and processes in place, businesses can leverage data to gain a competitive edge and drive growth.

19. The demand for market research analysts is projected to grow 22% from 2020 to 2030. Insight: The job market for market research analysts is expected to grow significantly in the next decade, indicating a high demand for professionals in this field.

The demand for market research analysts is projected to grow significantly in the next decade, with a projected increase of 22% from 2020 to 2030. This indicates that the field of market research is expanding and becoming increasingly important for businesses. As companies continue to compete in an ever-changing marketplace, they will rely more heavily on market research to make informed decisions and stay ahead of the competition.

The growth in demand for market research analysts can be attributed to the increasing importance of data and analytics in today's business landscape. Companies are becoming more data-driven and are recognizing the value of understanding consumer behavior, market trends, and competition. Market research analysts play a crucial role in helping businesses make sense of the vast amount of data available to them and providing insights that can inform strategic and operational decisions.

With the growing demand for market research analysts, it is an ideal time for individuals interested in this field to consider pursuing a career in market research. With the right qualifications and skills, they can become valuable assets to companies as they work to stay competitive in the marketplace.

20. Over 80% of marketers claim that nowadays, the majority of their choices are informed by data. 

It appears that many marketers are recognizing the value of data in making informed decisions and are basing a majority of their choices on the insights gleaned from data. This highlights the growing trend of data-driven decision-making in the marketing industry and the importance of data analytics in modern marketing strategies.

Additionally, this statistic also implies that there is a high demand for data analytics and market research professionals, as more and more companies are looking to use data to inform their marketing decisions. This suggests that there may be ample opportunities for individuals with skills in data analytics and market research to excel in the marketing industry. Furthermore, it also indicates that companies are recognizing the value of data-driven marketing and are willing to invest in data analytics tools and personnel to make better decisions.

21. With the Ericsson Mobility Report, smartphone analytics predicts a 25% increase in mobile traffic by 2025. 

The Ericsson Mobility Report predicts a significant increase in mobile traffic by 2025, with smartphone analytics projecting a 25% growth. This highlights the importance of mobile optimization and targeting in marketing strategies.

As more and more consumers use their mobile devices to browse the internet, access social media, and make purchases, businesses need to ensure their websites and campaigns are optimized for mobile devices.

Additionally, marketers should consider how they can leverage mobile data and analytics to gain insights into consumer behavior and target their advertising efforts more effectively.

22. Leading marketers are 72% more likely to invest in the quality and/or volume improvements of the first-party data they collect than the general public. 

This statistic indicates that leading marketers are placing a high value on the data they collect. They are investing in improving the quality and quantity of their first-party data, which is data they have collected directly from their customers or clients. This suggests that these marketers recognize the importance of having accurate and comprehensive data to make informed decisions and stay competitive in the market.

Additionally, the fact that leading marketers are more likely to invest in their first-party data than the general public also highlights the importance of having a strong data strategy in place. By focusing on improving the data they collect, these marketers are setting themselves up to make better use of analytics and gain a deeper understanding of their customers, which in turn can lead to more effective marketing campaigns and higher ROI.

23. 54% of companies that extensively use marketing analytics end up with higher profits than average. 

Companies that invest in marketing analytics are more likely to see a positive impact on their bottom line. By using analytics to gain insights into consumer behavior and market trends, these companies are able to make data-driven decisions that lead to increased sales and higher profits.

Additionally, this statistic highlights the importance of utilizing marketing analytics in order to stay competitive in today's business environment. Companies that do not take advantage of this technology may struggle to keep up with their more data-savvy competitors.

24. Marketers who use five or more tools in a marketing analytics stack are 39% more likely to see overall marketing campaign improvement. 

This statistic highlights the importance of using a variety of tools in a marketing analytics stack. By using multiple tools, marketers are able to gain a more comprehensive understanding of their campaigns and target audience. This, in turn, leads to an improvement in overall marketing campaign performance.

It suggests that a diverse set of tools allows marketers to better analyze and interpret data, leading to more informed decisions and better campaign outcomes. This could be because different tools have different strengths and weaknesses, and using a combination of them allows marketers to have a more well-rounded view of their data.

Additionally, it's also possible that using multiple tools allows marketers to cross-reference data and validate findings, increasing the accuracy and reliability of the insights they generate.

25. Leading marketers are 1.5 times as likely as other marketers to apply their analytics data to their marketing campaigns in nearly real-time.

One insight that can be derived from this statistic is that leading marketers place a high value on the timeliness of their data analysis. They understand the importance of being able to act on insights quickly to stay ahead of the competition.

This emphasis on real-time analytics suggests that these marketers can effectively use technology to gather and analyze data at a rapid pace.

Another insight that can be drawn from this statistic is that leading marketers are more likely to have a strong understanding of how to effectively use marketing analytics. They have likely invested in the tools, infrastructure, and personnel necessary to make data-driven decisions.

This includes not only having the technical ability to gather and analyze data in real-time, but also the ability to interpret that data and make strategic decisions based on it. This level of data proficiency is likely a key factor in their overall marketing campaign success.

Leverage the power of Marketing Data Analytics

data analytics has become an essential aspect of modern marketing. With the vast amount of information available online, it is vital to leverage data to gain insights into consumer behavior and design targeted campaigns that reach consumers where they spend their time online.

Additionally, data analytics can aid in improving customer service and boosting sales. It enables leaders to make strategic and operational decisions with greater understanding and identify new opportunities they may not have previously considered. Investing in the necessary resources, such as personnel, tools, and infrastructure, is crucial for creating and implementing an effective data strategy roadmap.

In short, for achieving success in sales, customer service, and overall business operations, data analytics plays a crucial role.

At Fine Media, we are certified experts in HubSpot software, the ideal solution for businesses of all sizes. If you're ready to take your business to the next level with data-driven decision-making, contact us today.

Sources: Webfx, ThinkGoogle, CMO survey, Statista