Duke University’s semi-annual CMO Survey predicts that spend on marketing analytics will increase 83% in three years. Marketing analytics is more often used in customer acquisition, retention, and social media, and less so for marketing mix, multichannel marketing, and recommendation engines. Despite this projected growth, less than a third of projects currently use marketing analytics. Respondents feel that the use of marketing analytics’ offers a low contribution (3.2 on a scale of 1 to 7) to firm performance.
Marketing budgets as a whole are expected to reach their highest point in three years. Digital marketing spend will increase across sectors, while allocation to mobile will reach 9% from (3.2%) in the next three years. In five years, social media spend will comprise 22.4% of marketing budgets. These increases are tempered by increased pressure to prove the value of marketing. 58% said that pressure from the CEO/board was increasing — 0% cited a decrease in pressure.
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