Data can be used for everything from strategic decision-making to email marketing. But first it must be collected, analyzed and interpreted. Just how good are brands at doing all that?
Not bad, according to a new study from Ascend2: Using Data To Demand.
Of the marketers polled, 94% strongly agree that data-driven strategies can significantly improve demand generation, with 36% strongly agreeing.
But brands face numerous challenges when taking a data-driven approach:
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Despite these issues, 72% rate themselves as somewhat successful at data-driven marketing, and 21% as very much so (best-in-class). Only 7% say they are unsuccessful.
Data-driven marketing most affects these demand-generation strategies:
And here are the strategies they are pursuing with data:
Once deployed, the benefits of data-driven marketing include:
Moreover, 55% somewhat agree that the quality of their data allows them to make effective decisions on where to spend their marketing dollars. Another 33% say it does, versus 5% who answer no and 7% who are unsure.
Ascend2 and its research Partners surveyed 383 marketers from January 17-25, 2022. Of these, 30% were B2B.44% B2C and 26% B2B and B2C equally. In addition, 19% were from firms with more than 500 employees, 22% from those with 50 to 500 and 59% from companies with fewer than 50 workers.