A Forrester survey suggests marketing leaders who use more measurement techniques have better insights into the customer journey.
The research shows that marketing leaders who produce precise, cohesive data with actionable insights and apply it strategically bring in more ROI than their peers. Compared to their colleagues, these leaders use a lot more measurement techniques, which are unified and rely on tools like mix modelling and advanced digital attribution.
By leveraging data like customer ID and demographics and integrating them into their campaigns, marketing leaders generate 3% more leads. According to the article, this approach drives efficiency across the board as teams benefit from deeper insight.
Increasing the budget allocated to measurements has helped firms increase their profits, earning about 4$ for every dollar spent on marketing measurement. By the year 2020 companies are expected to spend about 10% of their marketing budget on marketing measurements.
[3 minute read]