A new report by digital marketing enterprise Regalix has shown that B2B marketers are embracing new data analytics to optimise their content strategies, and drive revenue and return on investment. Seven in ten surveyed said that marketing analytics had played a critical role in increasing sales revenue by more than ten per cent.
Regalix canvassed the opinions of over 500 B2B marketers across the world in April and found that marketing analytics is increasingly being used due to benefits such as internal efficiency and sales gains. More than 60 per cent revealed that they had seen a revenue increase between 11 and 50 per cent as a result of their analytics strategies, and a further eight per cent witnessed a 50 per cent or higher increase in revenue.
Critical decision making
The report noted that deploying analytics tools enables managers and marketers to make better critical decisions by giving them a more in-depth and visible overview of their marketing spend. This means that brands can identify the channels that are performing for them more easily and allocate resources more effectively.
The majority of the respondents also revealed that analytics is playing a key role in optimising the marketing mix and identifying opportunities that can deliver the best return on investment. It appears that marketers now see data analytics tools as a central component in their marketing strategies because implementing them effectively can reap dividends in many areas.
Predictive analytics beyond efficiency
A separate report from Demand Metric called B2B Demand Gen: How Predictive Analytics Addresses Challenges Both Now and in the Future has also highlighted how new predictive methods are being used to drive awareness of a particular product or service and extend brand reach.
While almost half said that predictive analytics was not in use during this phase, 32 per cent said that they were testing it, and 12 per cent said that they were already implementing it. The fact that more businesses are using analytics in this way highlights a growing need to better understand customer needs and react to them in a swift and timely manner. Analytics has a role to play beyond efficiency and cost-cutting.
