Here are 21 stats that show most CMOs leap before they look at ROI.
91% of senior marketers believe successful brands use customer data to drive marketing decisions; yet, 39% say their own company’s data is collected too infrequently or not real-time enough to be useful (source: BRITE Study)90% of CMOs say social data has impacted at least some of their decisions; only 47% use social data to make predictions or forecast sales. (source: Bazaarvoice)85% use social networks in some way; only 14% tie financial metrics to it. (source: AdAge)80% feel challenged by the amount of data they have to deal with and the difficulty of accessing it. (source: Forrester)77% say getting tradition and digital marketing to work better together remains a major goal (source: BRITE Study)71% see potential for Big Data to have a large impact on sales; only 16% have Big Data strategies for sales. (source: Forrester)70%+ of CMOs report feeling unprepared to harness the power of their data to make intelligent marketing decisions. (source: HubSpot)63% of CMO’s say “ROI will be the standard for their performance by 2015:” yet, today, only 44% say “I can measure ROI.” (source: McKinsey)57% are not basing their marketing budget on any ROI measures. (source: AdAge)52% say achieving or increasing measurable ROI is a top priority for the coming year (source: MarketingSherpa)51% say a lack of sharing customer data within their own organization is a barrier to effectively measuring their marketing ROI (source: BRITE Study)42% of marketers report that they are not able to link data at the level of an individual customer. (source: BRITE Study)39% admit they cannot turn their data into actionable insight. (source: BRITE Study)36% of senior executives believe “old favorite” events such as open houses, hospitality functions, fundraisers and seminars deliver the best returns among localized marketing channels but can’t do direct tracking. (source: Marketing Charts)29% report that their marketing departments have “too little or no customer/consumer data.” (source: BRITE Study)28% of CMO’s say their decisions are based on gut instinct (source: Edelman)When asked which attributes they will need to be personally successful over the next three to five years, 28% said technological competence, 25% said social media expertise and 16% said financial acumen. (source: (IBM)24% say determining any kind of cost-benefit analysis is a challenge. (source: Marketing Chart)23% find it difficult to measure and evaluate campaign effectiveness on a local level. (source: Marketing Charts)B2B CMO’s say demonstrating ROI is their No. 1 concern yet fewer than 20% say they have the ability to measure it (source: Forbes)7% say most of or all their spending decisions aren’t based on any metrics at all (source: Edelman)