$137.8B U.S. ad spend for top 200 advertisers
“The talent shortage is especially acute in the marketing department,” Phil Fernandez, president-CEO of marketing automation company Marketo Inc., wrote on the company blog. “The practice of marketing is now becoming more and more data-driven, but there are still not enough marketing executives who are truly experienced, or even comfortable, with making sense of the data and actually putting it to work to drive revenue growth.”
Big Data analytics technology must be implemented within a strategic framework and include cross-departmental coordination and senior management buy-in, Fernandez said. Analyzing massive amounts of data from multiple touches and large prospect opportunities can provide a small edge with big consequences, Wistia's Fishman said.
“For us, it's about connecting the dots, from an initial visit to our website, to someone starting a free trial three months down the road, and finally purchasing your product a month after that,” he said. “We have lots of website visitors every day, and we convert a low percentage of those. Every incremental percent we can convert into a customer is significant.”