A recent CMO survey conducted by Duke Fuqua School of Business shows that most marketing projects fail to use available or requested marketing analytics.
The report states that on average about 32.5% of projects use analytics, even when they are available. When the CMO participants were asked to score the degree to which they use marketing analytics to measure their company’s performance, the participants provided an average rating of 3.7 based on a 7-point scale (7 being the highest rating). Unfortunately, many CMOs stated that marketing analytics doesn’t contribute at all to their company’s performance.
One of the biggest problems for CMOs with employing analytics on projects is finding the right talent. Many CMOs state they don't have or can't find the right talent. Of those respondents that have found the right talent in the last year, generally it was reported that it was very challenging to acquire.
B2C vs B2B analytics usage
- B2C product companies typically assign the largest share (9.9%) of their current marketing budgets to marketing analytics.
- B2B service business allocate the smallest share of their budgets to marketing analytics.
SOURCE: https://www.cmosurvey.org/