Almost all marketers say they are succeeding with their use of data despite critical challenges in getting there -- including driving loyalty, according to Using Marketing Data To Make Better Decisions, a study by Ascend2.
Of the firms polled, 31% say they are very successful, or best in class, while 63% say they are somewhat successful and 6% deem themselves unsuccessful.
As data drives successful marketing via email, and every channel, the study offers a snapshot of current trends.
For example, 25% always use data in the decision-making process, and 44% study it 44% of the time. In contrast, 26% use data for this purpose some of the time, and 5% never.
Moreover, most brands almost half of all brands are budgeting more or data, 13% significantly and 35% moderately. Another 37% are maintaining their spend level, and 15% are decreasing it, only 3% by large margins.
But different types have varying value. Here are the types of data deemed most helpful when making marketing decisions:
What do marketers hope to get out of data use? Their primary objectives are:
Those goals are mostly in sync with the critical challenges marketers face:
What do brands see a critical data trends for the year ahead? (Note: This study was done on April 6 during the height of the COVID-19 crisis0. They cite:
Ascemd2 and its Research Partners surveyed 277 marketers. Of those, 38% were B2B, 39% B2C and 23% both equally.