Survey Results: How Product Managers use Marketing Analytics
Newbie
Stephan Sorger
Newbie
- Jul 12, 2013 3:36 PM
Today, I presented a webinar entitled "Why Marketing Analytics Matters" to the AIPMM, a 10,000 member international association of product managers and marketers. Here is a link to the (recorded) event:
During the webinar, I polled the 100 attendees, asking them how they used marketing analytics. I am posting this note to different groups to share the knowledge. Here are the survey results:
1. Top Concerns of Product Managers: Which of the gaps do you observe in your practice? Select all that apply.
a. Market Problems (understanding the market, etc.): 50%
b. Win/Loss Analysis (understanding competitors, etc.): 44%
c. Product Profitability (measuring actual profitability, etc.): 47%
d. Customer Retention (keeping customers, etc.): 47%
2. Marketing Analytics Advantages: Which advantage do you find the most compelling? Select one.
a. Drive Revenue: 66%
b. Encourage Experimentation: 14%
c. Persuade Executives: 14%
d. Side-step Politics: 6%
3. Mapping Models and Metrics with Processes: Which, if any, models are you using today? Select all that apply.
a. Conjoint analysis: 17%
b. Decision tree: 31%
c. Portfolio allocation: 41%
d. Gravity model: 3%
e. Budget estimation: 59%
f. Budget allocation: 59%
4. Metrics Alignment: Which metrics does your CEO or GM track? Select all that apply.
a. Revenue: 86%
b. Profit: 69%
c. ROMI: 24%
d. Brand awareness: 21%
e. Other: 21%
Do the results surprise anyone? I understand the focus on revenue, but was surprised by the usage of many types of models by product managers, because I have not seen that behavior in general. Your thoughts?
1 Responses
Stephan, thanks for sharing these great insights! Having spent some time swimming in the Product Management pool, I'm not real surprised about the types of models your attendees reported using. Product Managers have always kind of been the "nerds" of marketing - no offense intended. They tend to embrace the more technical stuff that involves modeling, and they're good at it analysis. I think many marketers who need some inspiration or coaching on analytics should seek out the product managers in their organizations.
I'm encouraged to see "Drive Revenue" as the top marketing analytics advantage listed, as "Revenue" is also the top identified metric for CEOs. It tells me that for the most part, they're on the same page or at least the Product Managers are communicating via a metric that has great meaning to the CEO. As you discussed during the marketing analytics webinar you did with us earlier this year, Marketing doesn't always track things that the CEO cares about or understands. It doesn't surprise me that the Product Managers are oriented this way, because many of them have a profit mission for their product(s). Naturally, they're going to care about the revenue as well.