According to a recent CMO Study, nearly 8% of today’s marketing budgets are going towards marketing analytics and this number is expected to increase over the next three years. In the age of big data and the growing number of business intelligence tools out there, this statistic is not surprising.
However, there still remains a gap in marketing analytics when it comes to field or channel marketing. Most marketers who are responsible for serving their field sales representatives and/or channel partners, have very little insight into what content or marketing tactic is working or is not working. This lack of insight is likely the key reason SiriusDecisions reported up to 70% of marketing content goes unused by sales.
Attributing to the problem are a few key factors. First, many field marketing departments rely on third-party technology suppliers and have a multitude of portals for the field to interact with. This poses a challenge because these vendors may not be tracking who is actually using these tactics, let alone how the tactics are used by sales and received by customers. The second challenge is pulling the data together from all of these vendors in a meaningful way.
Another challenge for missing field or channel marketing data is the lack of adoption by the field to these technologies. Therefore, it is easy to conclude that if there is no activity, there is no data to report.
There is good news, however, for field and channel marketers hoping to gain access to the data and analytics needed to improve the effectiveness of your marketing tactics. By consolidating your vendor portals into a single sales content management solution, you benefit from data coming from a single source of truth and can move towards real-time content engagement tracking.
There are many ancillary benefits to a robust sales content management solution beyond actionable marketing data and analytics – which I have written about in previous blog posts – but the ability to understand what is working in the field to convert sales has to be high on the list of benefits.
In order to make sure that a newly implemented sales content management solution is configured to generate the analytics needed to be successful to raise the bar on field and channel marketing efforts, there are five segments to consider.