While just last week we reported the use of analytics is going to be an increasing area for marketers, new research from Ruler Analytics last week suggests marketers aren’t actually that great at measureing their own ROI.
The research showed that on an index of 100, marketers and PR scored the lowest for ’embracing analytics’ with just 28.6.
Retailers were most likely to be using analytics, followed by tarvel and tourism, leisure and property.
Most businesses in general use ‘some kind’ of analytics software, it would seem, with 92% saying they do so. However, there’s a big difference between having something and being happy with what it does, as less than half are satisfied with what their tool tells them, they said.
In addition, the way in which these sectors used analytics varied; for example less than a third of retailers analysed the impact of digital marketing spend.
Unsurprisingly, site visits was the most popular stat tracked (78%), then web form submissions or generated leads (64%). Return on digital marketing spend was toward the bottom of the pile (21%), as was the volume or outcomes of phonecalls (18%).
Ian Leadbetter, director at Ruler Analytics, said: “For the marketing and PR sector, lead generation and analytics is a vital part of proving the ROI to clients. However, many marketers admit that they neglect their own marketing because they focus so much on their day-to-day work.
“Our digital, networked world provides an incredible amount of insight into what drives business growth. Using analytics and call tracking software, marketers and sales teams can immerse themselves in reports, analytics and data that clearly illustrate patterns of customer behaviour and how these can be tapped to increase sales through different marketing activity.”