New Benchmarks from Marketo: How Does Your Organization Measure Up?
By Joshua Nite
If digital marketing were a competitive sport, it would be freestyle swimming. We’re all in our respective lanes, each with different audiences to reach. We all have our own unique set of strategies, and our own budget limitations to work with. We’re all trying to get to our finish line as fast as we can. And we all could benefit from the occasional glance sideways to see what everyone else is doing.
This half-competitive, half-isolated feeling is why marketing benchmarks are so valuable. Benchmarks help us determine if our strategies, investments and results are comparable to our peers. They can reinforce what we’re already doing and provide a road map for the future.
Marketo surveyed over 1,300 marketers, B2B and B2C, to track progress across five different categories.
Here are just a few key takeaways. How does your marketing measure up?
#1: Marketing Organization and Technology
In the 60’s, all you needed for marketing was a drafting table, some guys in suits, and a swimming pool full of martinis. Now marketing is a high-tech venture. At last count, there are nearly 4,000 different martech solutions out there.
How are marketers coping? According to the report, 60% of marketers have six or more technologies in their tech stacks. The top 3% have over 21. Despite the growing size of the stack, 68% of marketers feel the technology in their tech stack integrates well.
It does appear, though, that we need to start thinking more strategically about building out tech stacks. Only 37% say they have a short-term and long-term plan for tech. Nearly as many, 32%, said they had no strategic plan at all. If we want to keep the tech working for us without getting buried by it, we need to use technology strategically.
#2: Implementing Nurture Strategies
Nurturing is the process of building relationships with buyers across multiple channels, guiding them along the buyer’s journey with customized content with a consistent message. According to the report, the vast majority of marketers are running nurture campaigns—80% have campaigns in place.
The biggest challenge for nurturing appears to be content, with 44% citing a difficulty creating enough relevant content. Another content challenge is filling gaps in content. Part of a mature nurturing strategy should be allocating time and resources to finding and filling gaps in your content coverage.
#3: Account-Based Marketing
Strategic account-based marketing (ABM) at scale is a relatively new practice. While businesses have always had a few key accounts they pursued with extra attention and personalized content, new technology makes it easier to personalize and distribute content. There are a few different flavors of ABM, from full personalization aimed at specific accounts and individuals to more generalized efforts aimed at specific …read more
Source:: Top Rank Blog