How Good Is Your Organization at Measuring Marketing Performance?

Posted by Munira Fareed on 10/21/15 11:29 PM

Recently, Hive9 hosted a webinar called “Avoiding Random Acts of Measurement - Using the SiriusDecisions Aligned Measurement Framework to Implement a CMO Dashboard.” We are consistently working to help educate CMOs on the value of measuring marketing performance in their organization and how dashboards are the ideal mechanism to do so.

Dashboards are intended to make the life of a CMO easier, presenting actionable metrics in one place so leaders can make informed decisions and demonstrate marketing’s ROI. Unfortunately, many CMOs either do not have a CMO dashboard or don’t yet have an effective one. So what are CMOs using if they don’t have a dashboard?

We took the opportunity to poll our attendees to learn more about their measurement maturity. See how you compare:

poll1

Do you have a real-time CMO dashboard?

  • 6% said yes
  • 47% said no
  • 47% are working on it

poll3

poll3What is your biggest challenge when measuring marketing performance?

  • 23% were not sure what to measure
  • 60% said data is in too many disconnected places,
  • 57% said manual, time-consuming processes to pull reports
  • 40% said reports are about past activities, not predictive

poll2

Which maturity level do you see in your marketing organization?

  • 50% said power users create dashboards and reports using a BI tool
  • 23% said they have a marketing-wide dashboard and scorecard system
  • 23% said they do their marketing reporting using spreadsheets
  • 3% said they use analytics to see what the next best message should be
  • 0% said they leverage predictive analytics to predict business outcome

As you can see from the results, CMOs have a long way to go to reach ultimate marketing maturity. It’s not impossible, it only takes a desire to get out of the silos and see the big picture. The technology is finally here to enable marketers to effectively align themselves with business goals, have visibility into marketing performance, and have instant access to the reports that facilitate smart decisions.

If you are interested in seeing the webinar, we recorded it for you to watch and listen at your convenience. If you are ready to start learning how you can take the steps required to run a data-driven marketing organization, you can request a demo as well.

Topics: Dashboards, Marketing Analytics, Hive9

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