Brands are getting better at data-driven marketing, finding it especially useful when sending email. And they plan to spend more money on it.
But it’s not easy to succeed, judging by Data-Driven Marketing: A Research-Based Guide for Marketers, a study by Ascend2.
Marketers face such challenges as:
Moreover, they say the field has been affected by these factors in the past year:
Overall, only 29% rate themselves as very successful, or best-in-class at data-driven marketing. But 62% say they are somewhat successful, and 9% acknowledge they are unsuccessful.
While 79% are satisfied with the quality of decisions they make based on customer data, only 25% are very much so. Another 17% say they are unsatisfied, and 4% are unsure.
But they are trying: 24% say customer data is always a driving factor in their decision making and 36% say it is most of the time, while 28% say it is some of the time, 8% say very little and 3% say it is never a factor.
The most useful data-driven marketing applications are:
Meanwhile, 17% plan to significantly increase their data-driven marketing budgets in the year ahead. Another 65% foresee more moderate hikes. And 17% are decreasing their spends, 3% substantially.
What could help them improve their data-driven strategies? Here are their top initiatives for the year ahead:
Ascend2 and its Research Partners surveyed 385 marketers from September 20-28, 2021.
Of these, 25% were B2B, 52% B2C and 23% B2B and B2C equally.
In addition, 48% were at the owner/partner/C-level, 25% vice president/director/manager and 27% non-management professionals.