In his report, The State of Marketing Technology 2016: Controlling the Chaos, the Aberdeen Group’s Andrew Moravick found that Best-in-Class marketers are 74% more likely to have a strongly integrated suite of marketing technology solutions and that they are also 31% more likely to make technology buying decisions independent of IT.
However, even though the Best-in-Class may be out in front when it comes to integration and IT-independence, it turns out that they actually use many of the same technologies as everyone else, as you can see in Figure 2 from the report:
It is really only in the area of analytics and data visualization solutions that we see any real gap between technologies used by the Best-in-Class and those used by All Others. (And this may indicate that an emphasis on analytics actually improves marketing performance.)
The story is somewhat different if you look at what Andrew calls “Fringe & Emerging” marketing technologies in the report’s Figure 3:
What jumps out here are the wide gaps we see when it comes to the use of landing page optimization and testing platforms, content marketing platforms, social listening/analytics tools, and event marketing/management solutions. The Best-in-Class are far more likely to use these technologies than their rivals. Why is that?
To answer that question, it’s worth reviewing what distinguishes the Best-in-Class from All Others. As Andrew explains in the report, the Best-in-Class find themselves among the top 20% of those surveyed when it comes to the percentage of company revenue attributed to marketing campaigns, year-over-year improvement in customer acquisition costs, and year-over-year improvement in customer retentions rates.
Now, we can’t claim without reservation that these companies outperform others when it comes to revenue generation simply because they optimize and test their landing pages or because they use technology to manage their event marketing efforts.
Likewise, we can’t state unequivocally that they enjoy lower customer acquisition costs and higher customer retention rates because they are more willing to invest in social listening and content marketing platforms.
At the same time, doesn’t it make sense that companies which are more efficient at event marketing or, more importantly, who have invested in inbound marketing while ensuring that their landing pages are as effective as possible, will see better results when running digital or event-based marketing campaigns?
And doesn’t it also stand to reason that companies which focus on using social channels to monitor customer behavior, and engage customers when there is a problem, will be better at retaining the customers they’ve acquired?
Naturally, I believe there is something to these claims. Do you?
To learn more, I invite you to check out Andrew’s report, The State of Marketing Technology 2016: Controlling the Chaos.