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Data: Why More Is Better Than Less in Marketing

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Most marketers struggle with data, both in regards to quantity and quality. In terms of quantity, most marketers say they have too much data, or too little, usually the latter.

Not surprisingly, marketers often complain the #1 type of information they’re missing is ROI. Other top complaints range from lacking the drill-down details they need, to having access to up-to-date, real-time data.

Ensure You’re Able to Track All the Information You Need.

Marketers lack ROI dataIn the era of Big Data and EMROI, it’s essential to have a system that identifies the white spaces so you can get the data you need – and know what excess you can safely ignore.

The focus here is key performance indicators (KPIs). Depending on your industry and company, there can be dozens of KPIs that are essential to understanding marketing’s fiscal performance across sales, business, and customers. These KPIs can vary wildly from industry to industry, and even from company to company.

These KPIs are essential to proving marketing’s specific contribution to the company’s bottom line. These metrics involve the business metrics that matter most: revenue, margin, growth, acquisition, sales productivity, and more.

However, gathering this data from disparate sources can be challenging. Marketers generally know they need more data – but feel they can’t get it. Perhaps the biggest hindrance is accessing and collating the data. Indeed, a majority of marketers agree they would be more data-driven, if they had the time. Ergo, it’s essential to save time with a system that automates data collection, and streamlines reporting.

This is an excerpt from our exclusive new eBook, “10 Essentials for Proving Marketing ROI”. Get your free copy of this expert resource now.

By Jeff Winsper

Jeff is the President of Black Ink and offers more than 20 years of leadership experience in marketing, serving companies ranging from Fortune 500 to start ups.

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