I’m remiss on mentioning a report that came out a couple of weeks back from the Teradata folks. They surveyed 1,506 marketers in enterprises around the world and across all industries about how they’re using data in business decision-making. It’s an update of a survey they did in mid-2013 and my immediate response to it is that as marketers we seem to be getting there. Where?
Let’s look at some of the results and I’ll explain my response.
- Marketers have more than doubled their use of data-driven marketing in the past 18 months. 78 percent of marketers now use data systematically, versus 36 percent in 2013.
- Marketers however still struggle with individualizing offers and communication. Only 50 percent routinely apply data to engage consumers. 44 percent admit a lack of consistency in omni-channel marketing. And 80 percent say that silos within Marketing prevent them from knowing how campaigns are performing across different channels.
- 43 percent of marketers say they now control their company’s customer data (up from 34 percent in 2013). And a vast majority (83 percent) say they take an omni-channel approach to reaching customers.
- 84 percent agree that making marketing and IT into strategic partners is vital.
- 92 percent agree that integrating data across teams can improve customer service.
The report focuses quite a bit on marketing personalization. Those are things such as the emails you might get from Amazon after you’ve browsed and item but not bought or the “suggested for you” content you often see as you surf. Frankly, I often find that to be more annoying than helpful (and often bordering on creepy). But that isn’t the point today.
One thing I’ve often found difficult in working with clients is getting them to put aside their beliefs and to focus on the facts contained with the data. Don’t take that to mean that I think decisions should always be taken on the basis of what the numbers show us. I don’t. I do, however, believe that we must use the data as a guide along with our experience. That’s why I say that “we’re getting there.” Doubling the use of data is encouraging and the higher levels of data integration found in decision-making is a bright spot.
Your thoughts?
Consult Keith 