Data-Driven Marketing: Oxymoron or Reality?

Share this content:

Only 50% of marketers routinely use data-driven marketing to personalize communications and offers to enhance the customer experience.

 

Data-driven marketing seems to be more panacea than reality. Despite the fact that 78% of more than 1,500 marketers surveyed by Teradata for its “2015 Global Data-Driven Marketing Survey” claim that data-driven marketing is either embedded in their organization or is strategic, only 50% routinely use it to personalize their marketing messages and offers to improve their customer experience.  Yet, 87% of respondents consider data to be the most underutilized asset in marketing organizations.

Further, 38% of marketers surveyed say their biggest challenges are customer acquisition and retention, followed by proving their support of corporate goals (29%), and meeting regulatory compliance (26%). And, for two thirds of respondents, one significant benefit of using data is faster, more accurate decision making. In fact, 45% leverage data to measure ROI and 41% believe that using the insights from data-driven marketing would help better allocate budgets for marketing activities. But only 3% of those surveyed consider proving the effectiveness of marketing a priority.

Is it surprising, then, that 90% of respondent say that individualized marketing should be a priority? Perhaps “should” is the key word here.

According to the report, responds claim that they want to use data-driven marketing “to move beyond segmentation to true one-to-one personalization in a real-time context.” Clearly, this is a long-term goal. At least the passion for relevant marketing is there.

But, there's action too; it's not just rhetoric.

Marketers surveyed have more than doubled their use of data-driven marketing over the past year and a half. And, 78% of those surveyed are using data systematically. One advantage that some respondents have in terms of making data-driven marketing a reality is data ownership: 43% say they control their company's customer data.

Even so, although 83% of respondent marketers claim that they take an omnichannel approach to reaching their customers, 44% admit inconsistency in their omnichannel marketing efforts. Further, 80% say that silos within the marketing organization prevent them from determining how campaigns are performing across the different channels they're using. But 43% of respondents say they're satisfied to have achieved a fully integrated view of the customer across different teams.

Despite the extent to which marketers are currently using data-driven marketing, many of them are feeling the heat. Nearly half (49%) of marketing executives surveyed say they feel significant pressure to become data-driven.

DMNotes is DMN's around-the-clock blog. Yes, a blog in 2016.

Bookmark this section and follow our RSS Feed here

close

Next Article in Data/Analytics

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above