B2B marketers see data as a competitive advantage that could drive programmatic advertising and cross-channel promotions. But too few are using data management tools that would allow them to get to their data, according to "Mind The Data Gap," a study by Dun & Bradstreet, conducted by Adweek Branded.
The hurdles they face could hamper email marketing campaigns and other forms of advertising.
Of the 237 B2B marketers polled, 38% are sung CRM systems with advanced functions and 48% are conducting advanced web analytics.
But only 12% are utilizing customer data platforms (CDPs) with advanced capabilities. However, 33% are using rudimentary CDP systems and 22% have plans to deploy a CDP in the next 12 months.
In contrast, 24% have deployed data management platforms with advanced functions, and 28% have brought on advanced marketing automation platforms.
The biggest obstacles to data-driven marketing are:
In addition, not many firms are using account-based marketing to engage B2B clients. The major hurdles appear to be unclear ABM strategies (35%), lack of time/resources (31%) and lack o understanding about ABM (29%).
However, 40% of the respondents consider ABM extremely or very important, and 31% feel it is somewhat so.
The study shows that 61% plan to increase their programmatic ad spends, and 20% of those by over 25%. Of the respondents, 63% are buying or selling advertising programmatically.