Concurrently, data has risen in importance strategically. Marketers rely on data to inform and create personalised, trusted customer experiences, and to optimise campaigns and programs for maximum ROI. But gathering, untangling, and harnessing the power of data is easier said than done. Only 33% of marketers strongly agree they gain insights fast enough for impactful decision-making. As the quantity and variety of data continues to increase, and rules around privacy take hold, it’s never been more important to get the most out of marketing data.
In our latest marketing research, the third edition of the Marketing Intelligence Report, we surveyed more than 2,500 marketing decision makers around the world to uncover how marketers are using data for growth and customer experiences. Plus, we discover how marketers are adapting to a privacy-focused data ecosystem and the trends shaping cross-channel marketing.
Let’s take a look at some of the top four key findings. You can download the whole marketing report here.
1. Those in marketing report that proving impact is crucial
Today’s marketer has a dual mandate: nurturing customer relationships and growing revenue. This is reflected in how marketers define success. Nearly half say customer satisfaction is their most important metric, followed by return on marketing investment. However, fewer than two in five marketers report that they feel completely successful in evaluating any of these metrics definitively.
When assessing their analytics strategies, marketers emphasise the need to solve this challenge – listing proving impact on growth and customer experience as their top priorities. To get there, marketers are also prioritising the effective use of data in the form of accurate, timely, and consumable insights.
2. Privacy changes have led to shifts in marketing strategies and investments
Over the past few years, data privacy regulations — such as GDPR, Apple Mail Privacy Protection, and Google’s deprecation of the third-party cookie — have encouraged marketers to adopt a consumer-first, consent-based approach to data collection. At the same time, marketers are feeling downstream effects in their analytics as popular performance metrics like email opens are now less relevant as privacy policies preventing tracking are implemented. In fact, 90% of marketers agree that recent data privacy changes have fundamentally changed how they measure marketing performance.
Ever resilient, most marketers are turning to technology to ensure they can continue to measure performance, understand their customers, and provide them with individualised experiences.
90% of marketers plan to either increase or maintain investments in marketing analytics
88% of marketers plan to either increase or maintain investments in customer data platforms
87% of marketers plan to either increase or maintain investments in real-time interaction and personalisation