New research by HubSpot, a leading CRM, marketing, sales, and customer service platform, has found that only a tiny minority of marketers believe that their efforts are significantly contributing to their company’s bottom line.
According to the research, which surveyed over 650 marketing professionals across Europe, just 2% of marketers believe that they contribute to more than 50% of their company’s revenue.
Meanwhile, 45% of marketers believe that they contribute to less than a fifth of their company’s revenue.
These findings come at a time when it has never been easier to measure the impact of marketing on a company’s bottom line and suggest that many marketers may not be set up for success in their current roles.
Marketers are suffering from “tool overload”
The findings of HubSpot’s research suggest that many marketers are suffering from so-called “tool overload”; and this may explain why so few believe that they are significantly contributing to their company’s revenue.
According to the research, 67% of marketers use five or more different tools in their job and just 6% claim to be able to manage their marketing efforts from one centralised tool.
Moreover, 93% of those surveyed reported feeling some form of frustration when managing multiple tools, 51% of which reported that the hassle of switching between tools and managing multiple passwords presents a significant challenge.
In contrast, Latin American marketers, who use fewer tools, contribute significantly more to revenue to than their European counterparts. In that region, 14% of marketers believe that they contribute to more than half of their company’s revenue (versus 2% in Europe) and only 53% use five or more tools (versus 67% in Europe).
An all-in-one solution: HubSpot’s Marketing Hub Starter
As part of its mission to help millions of organisations to grow better, HubSpot is seeking to address the issue of “tool overload” with the launch of Marketing Hub Starter.
The product, which is available from €46 per month, allows small businesses to consolidate the capabilities of their existing disparate marketing tools into one platform, and offers an affordable alternative to other comprehensive software solutions on the market.
Marketing Hub Starter builds on the foundational lead capture features available in HubSpot’s free marketing tool to help teams engage and nurture their contacts.
The product is powered by HubSpot’s free CRM and includes:
Email marketing, including a drag-and-drop email editor and post-send analytics
List segmentation based on contact properties, email activities, and form submissions
Integrations with Facebook and Instagram lead ads
Custom lead flow fields for more targeted nurturing
Essential reporting that goes beyond email opens and clicks to track returning contacts, top personas, engagement over time, ad performance, and more
Kipp Bodnar, CMO of HubSpot, said; “Historically, small businesses looking for an economical way to get started with marketing have had to cobble together disparate point solutions to perform tasks like sending emails and targeting ads. Unfortunately, what they save in dollars they often lose in time spent trying to connect and manage all of those systems.
“Marketing Hub Starter gives growing marketing teams the tools they need to get started in one easy to use platform, without the enterprise software price tag. And when they’re ready to take their marketing to the next level, HubSpot will grow with them by making it easy to add features as needed.”
To learn more about Marketing Hub Starter, please visit https://www.hubspot.com/products/marketing/starter
To view a video providing an overview of the findings, please visit https://hub.wistia.com/medias/gziq0tybf5