Data has become an indispensable part of every area of the industry, with 80% of professionals describing it as critical to their marketing and advertising efforts, according to a new global report covering 18 countries.
The third edition of the annual Global Review of Data-Driven Marketing and Advertising has once again revealed the starring role data-driven marketing and advertising (DDMA) plays in the success of any business.
In just three short years, DDMA has gone from being a niche discipline to take centre stage in the development of offers, messages and experiences that span virtually every customer touchpoint. Rather than just sitting in marketing alone, CMOs, CEOs and business leaders globally are beginning to realise the importance of DDMA and integrating it into other business functions.
• Data has become an indispensable marketing asset: 79.6 percent of global survey respondents said customer data is critical to their marketing and advertising efforts, similar to the 81.3 percent and 80.4 percent of panellists, respectively, who voiced similar sentiments over the past two years.
• More than anything else, growing investment in data reflects the importance that marketers vest in the customer and their experience: 89.6 percent of survey panellists said that their practice of DDMA was focused, at least in part, on the maintenance of customer and prospect databases – with those resources typically aimed at supporting better and more relevant offers and general customer communications.
• 2016 was “The Year of Measurement”: Larger numbers of panellists declared their organisations “sophisticated” when it comes to cross-channel campaign measurement as well as campaign measurement across single marketing channels.
• Investment (still) on the uptick: Over half of global panellists said they increased their spending on DDMA in 2016 compared to the previous year, while 35.8 percent said their investments remained flat. Spending increased the most substantially across digital channels and related execution functions, as it has for the past two years.
• DDMA works: In evaluating the relative impact of their key DDMA communication channels, panellists said that over the last year, performance improved across nine of ten tracked channels, suggesting a likely combination of both improved planning and executive, as well as more insightful measurement and attribution techniques.
• Improvements from the inside out: For the second consecutively year, panellists said better integration of their existing advertising and marketing technologies would be most helpful in advancing their ability to derive value from DDMA efforts. Second of the list of priorities: improving the functionality and efficiency of their internal organisational processes so as to support the optimal use of data (suggesting that for many organisations, outmoded business practices represent a more significant threat to growth than a lack of resources of expertise).
“Technology is rapidly changing every day and has a big impact on how customers interact with brands, which is why data is critical for driving many aspects of businesses,” said Jodie Sangster, Chair of GDMA and CEO of ADMA.