If you do a search for “marketing intelligence,” unsurprisingly, you’ll find quite a variety of definitions. Check for instance a search on Google for the term. In the following article, you will find out what is marketing intelligence and the 3 degrees of marketing intelligence.
Unsurprisingly again, when you talk to marketing people about how they practice marketing intelligence (if they do at all), the answers are all over the place.
I’m not suggesting every company needs to be in the same place when it comes to marketing intelligence. However, I am suggesting your company should take a hard look at the degree to which you gather and apply marketing data, and then, crank it up a notch.
What is Marketing Intelligence?
To my first point, the definition of marketing intelligence goes something like this:
Marketing intelligence is the data—and the process of using it—to guide marketing decisions.
And to my second point, when you have better intelligence—and then apply it—you’ll become a more effective marketer. It all sounds so simple. Of course, it’s not.
Fascinated by the topic, I gathered a lot of interesting data and insights and present them here with the infographic, 3 Degrees of Marketing Intelligence.
Take a look and consider where your company stands.
Are you an intuitive, insightful, or intelligent marketer?
Marketers rely on data to different degrees.
Intuition has its place in decision-making but is detached from analysis, it’s an undependable guide, which leads to unpredictable outcomes.
What’s stopping marketers from adopting more data-driven decision-making?
- 97% of marketing leaders don’t believe they have the right talents o fully leverage marketing analytics
- 74% of marketers don’t believe their marketing analytics tools are well-integrated and work seamlessly together.
- More than 80% of marketers say silos within marketing obscure a seamless view of campaigns and customers.
Insightful marketers collect data but fall short of using it strategically. The biggest stumbling block is moving from data to insight to action.
- 19% of marketers track all of their marketing efforts in order to drive improvement via reporting.
- 87% of marketers today consider data the most underutilized asset in marketing organizations.
- Fewer than 25% of companies integrate customer data across channels to provide a single customer view.
Intelligent Marketers create a data-driven culture. they leverage advanced analytical capabilities to create a clear picture of customer preferences, activity, and profitability.
- 53% of sophisticated marketers stated they adhere to well-established marketing metrics that tie directly to business objectives
- Marketers who deploy a marketing measurement stack of five or more tools are 39% more likely to see improvement in the overall performance of their marketing programs.
Want to become a more effective marketing leader?
Now you know what marketing intelligence is and what kind of marketer you are: intuitive, insightful, or intelligent.
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