Missed Opportunity for Business Revenue Growth
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A new 18-page research report, The State of MarTech, by the research firm Ascend2, takes a deep dive into the challenges marketers encounter and how they can take back control of their tools and data to pave the way to revenue growth.
For this report, Ascend2 surveyed 187 marketing professionals in the U.S., using multiple third-party survey panels, and the survey was fielded in July 2021. The research was commissioned by SharpSpring to provide marketing professionals with data-driven guidance on how to take back control of their marketing tools and data to pave the way to better results. Download the report, clip the charts for client presentations, and adapt it to support your marketing efforts.
A marketer’s job is difficult, as they are responsible to achieve specific KPIs, the most important being revenue growth. So when 76% of marketing professionals feel that they are missing opportunities for revenue growth as a result of challenges like lead quality and marketing attribution, all marketers need to pay attention.
Over one-third (37%) of marketers find that one of the top challenges to the success of their overall digital strategy is the quality of leads coming in. Do you face that challenge? 26% of marketers are having difficulty attributing campaign results to marketing efforts. Do you know if you’re spending time, resources, and ad budget in the right places? The research reveals that addressing the challenges of lead quality and attribution will help marketers overcome missed opportunities.
What are the GREATEST CHALLENGES of your overall digital marketing strategy?
Lead Quality Relies on Attribution
It is not surprising that lead quality and attribution are #1 and #2 on the list of challenges. Without accurate and comprehensive attribution it is impossible to determine the quality of leads. This is where marketers feel like they are missing opportunities. Marketers ask the questions:
- Without proper attribution, how do I know where to spend my marketing dollars?
- Without proper attribution, am I overspending on some channels and underspending on other channels?
- Without proper attribution, does lead quality get replaced by lead quantity out of necessity to meet my KPIs?
- Without proper attribution, how can I develop customer insights to fuel my growth strategy?
Demonstrating the value of marketing spend is critical, and it starts with understanding end-to-end conversion, cost, and revenue. Attribution can transform a good marketing strategy into a game-changer for your business by knowing which campaigns and leads drive conversions, so you can invest in the efforts that work best.
Multi-touch marketing attribution does not need to be complex. At the very minimum, companies marketing technology stack should be able to provide holistic performance reporting in three easy steps:
- Track your campaigns
- Set up your conversion goals
- Build custom report with multi-touch attribution
Learn more, download the 18-page research report, The State of MarTech. Coverage and analysis of this research are also available by MarketingProfs, MediaPost, and Convince & Convert.