A study by analytic data platform Teradata indicates that data-driven marketing may be the key to success for future advertising campaigns and strategy, as it allows personalization for consumers and more information for companies, according to Adweek.
“Real-time relevance is moving to become table stakes, and the quickest to move will win,” said a Teradata rep regarding the 2015 analysis of the industry. “Customers today expect — and demand — a seamless and relevant experience. They have grown accustomed to marketers’ knowledge of their preferences and anticipation of their needs. Fractured or conflicting messages from a brand make marketers seem unorganized and annoy customers, sometimes even driving them away.”
But it seems that marketers may be listening. Teradata polled 1,500 different executives worldwide, and learned that many are moving forward with making improvements over data efforts. However, there are still hiccups with the system, particularly with security issues and how some are thrown off by the quick pace of the trend.
GlobalDMA and the Winterberry Group held its own survey across 3,000 marketing professionals, with most of the findings in the infographic below. 77 percent of those polls indicated confidence with the practice of data-driven marketing. Spending for the practice also showed growth, with 74 percent stating that growth will continue — a leap from the 63 percent back in 2013.
As far as where data efforts deserve the most focus, 69 percent feel that targeting of offers, messages and content is the true vital ingredient, while data-driven strategy or product development follows at 52 percent. Customer experience optimization, audience analytics/measurement and predictive analytics followed closely behind around the 40 percent range each.
But what truly drives increased data marketing Well, it turns out that a need to be more customer-centric led the charge with 53 percent, followed by the need to maximize effectiveness/efficiency of marketing investments closely behind with 49 percent.
Here’s hoping more companies pick up on the practice!