In today’s marketing landscape, data has become the lifeblood of successful campaigns, creating relevant messaging between brand and consumer. Marketers understand the importance of data and most are looking to incorporate it into the marketing mix– three-quarters of marketers believe success lies in being more data-focused – but many simply don’t know how.
Making sense of data and activating it into actionable revenue streams is easier said than done. One-third of marketers in Europe and North America say their ability to analyze data in order to create personalized experiences is either poor or very poor.
This is why a number of marketers are bringing on external guidance to assist in their data strategies. Two-thirds of marketers said they have had to bring on outside help when it comes to data management, and 64 per cent for marketing data analytics. In addition, 72 per cent of individuals plan to bring on external help in order to analyze and exploit data they are collecting.
Driving the trend towards being data-driven is the adoption of data-management platforms (DMPs). Sixty per cent of marketers are already using DMPs to reach consumers in multiple ways, while 68 per cent say DMPs are the key to the future of programmatic advertising.
Those that have been able to incorporate an effective data-driven marketing strategy have enjoyed lots of success, including: achieving a competitive advantage in customer engagement/loyalty, improved customer retention and increased revenues.
Check out the full recap in Yieldr’s infographic below.