Shocking statistic from the B2B Marketing University

This week I had the pleasure of attending the B2B Marketing University in NYC, sponsored by Silverpop. It was a great event host by Adam Needles with expert speakers like Jep Castelein (LeadSloth), Jay Hildago and Mac McIntosh. It was also very nice to meet people I know so well but never met face to face, like Adam, Jep, Jay and Mac. It was a great event and my compliments go out to Silverpop for organizing and running such a strong, educational event.

Prior to the meeting, I had a chance to have lunch with a couple of Silverpop managers – Will Schnabel, VP of Business Development, and Mike Gentleman, Partner Program Manager.

Over lunch I shared my observation that the marketing automation space is far from mature – telling them of the Laura Ramos’ (previously with Forrester Research) estimation that only 10% of the potential market has purchased marketing automation software.

I was shocked at the response, but I should not have been. This problem is well-known out there.

“Jeff, I think Laura’s estimation is low. It’s probably a bit higher than 10% today. But the problem is deeper. My guess is that only 1 1/2% of the market is FULLY UTILIZING marketing automation.”

It’s clear that this problem is an epidemic. Like the young lady in this photo, companies are falling and reaching out to get help.

Despite the claims of so many vendors that their software is “easy,” companies buy marketing automation software and simply use it as an email server, for instance. Most have no idea how to develop buyer personas, document buying processes, engage in content marketing, craft lead nurturing programs or draft lead scoring approaches. Their success or failure has little to nothing to do with the “ease of use” issue.

The inability of companies to fully implement marketing automation is why we created the Marketing Automation Acceleration Service. But it is also why Mac McIntosh created AcquireB2B – to provide an outsourced service for marketing automation. Both companies are taking a similar approach to this huge problem.

What do you think? Is the statistic really this low? Why are so many companies falling short in implementing marketing automation software? We’d love to hear from you.