The collection of vast amounts of data is helping marketers to understand consumer behavior on an entirely different level. With that information, they are able to assess and identify key findings on their audience and target them better. As a result, they can make more informed decisions on future marketing campaigns, allowing them to be more effective. However, many marketers across various companies and industries share concerns on how to increase customer engagement and how to increase revenue growth. This is where Big Data analytics comes into play.
2. 2
The collection of vast amounts of data is helping marketers to
understand consumer behavior on an entirely different level. With
that information, they are able to assess and identify key findings
on their audience and target them better. As a result, they can
make more informed decisions on future marketing campaigns,
allowing them to be more effective.
However, many marketers across various companies and industries
share concerns on how to increase customer engagement and how
to increase revenue growth. This is where Big Data analytics comes
into play.
3. 3
Finding the Right Tech to Handle Big Marketing Data
While the majority of marketing executives believe that Big Data is extremely important, the concern lies in
identifying the right technologies to handle that data, which can also be easily integrated to their current
legacy systems. In 2015, 30% of marketers worldwide plan on investing in more data management platforms
and 42% in marketing analytics.
4. 4
What Marketers Are Analyzing
With the help of specific kinds of data, marketing analysts can better understand consumer activities and
pinpoint new business opportunities. Marketers have shown interest in tracking and visualizing the customer
journey, with a particular focus on demographics and data on consumer behavior.
5. Pulling Big Data Analytics From Big Ad Spend
A vast majority of marketing analytics is pulled from data that is collected from marketing campaigns and
media advertising. This year alone, marketers worldwide are expected to spend $540 billion on advertising,
which shows a growth rate of 5.3%. The growth rate in 2013 was only at 2.6%. This increase in ad spend will
prompt marketers to invest more in data analytics.
5
6. 6
Global Ad Spend Leads to Big Data Volume Worldwide
Ad spend per person has increased steadily across the globe since 2012. This year, the U.S. is ranked as the
top country spending the most on advertising — $589.29 per person, up from $525.55 in 2012. India, on
the other hand, is only spending $5.40 this year per person, but still on the rise seeing that their spend is up
from $4.37 in 2012. Since this growth means larger amounts of marketing data will likely be produced in the
coming years, regional markets may need to better coordinate on their analytics process.
7. 7
The Impact of Marketing Analytics
Marketing analysts across a wide range of industries are seeing the positive impact that Big Data analytics is
having on their customer relationships. The travel industry alone saw significant jumps of 67% in customer
loyalty and 59% in customer satisfaction with the help of marketing analytics. The energy industry, however,
saw smaller growth with only about 10% increase in customer satisfaction.
8. 8
By 2017, chief marketing
officers will be spending
more on information
technology, that aid
in analytics and data in
customer insights, than
chief information officers.
Source: Forbes, 2014
2017
Marketers still recognize the
value in Big Data, with 52%
of them saying they believe
this kind of data helps
to identify new business
opportunities.
There is no denying anymore
the power of data analytics
and the insights it can offer
within the marketing industry.
Source: eMarketer, 2014
52%
The percentage of budget
that was spent on marketing
analytics was 7.1% in 2014.
This will increase to 12.3%
in 2017, signifying the future
impact of Big Data on the
marketing industry.
Source: CMO Council, 2015
12.3%
The State of Marketing Analytics and Where It’s Heading
50% of companies are
struggling with how
to efficiently analyze
marketing data, especially
from multiple social media
channels.
This may be a result of
not having the proper
visualization tools or simply
not having an organized way
to collect data.
Source: eMarketer, 2014
50%
9. 9
Interpreting the right findings within the
wealth of marketing data that is produced.
Presenting the data in a cross-functional
manner that helps other departments within
their companies understand the numbers
behind their marketing strategies.
Connecting combined data on customer
information to find insights on the
performance of campaigns.
Having a good customer segmentation
framework for marketing data collected.
Providing enrichment and visualization of
data collected from marketing campaigns.
Visualizing and sharing marketing data
through various charts and infographics,
which will clearly display insights found
within the data.
Connecting to multiple data sources on
customer information to find insights on
the performance of campaigns.
Segmenting marketing/customer data into
groups in order to recognize growth and
change trends into opportunities.
Challenges for Marketing Analysts and Marketers
Marketing analysis requires: Solutions that SAP Lumira delivers:
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10
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