"90.7% of US marketing professionals said they segment data to better target and engage addressable audiences."
According to this eMarketer study - 90.7% of US ad and marketing professionals said they segment data to better target and engage addressable customer —or B2B—audiences. Some 50.5% said they were more advanced in that area.
In our 3rd Annual Marketing Survey - these were the personalized campaigns marketers were doing:
What can we take from this?
- If you haven't started SOME level of segmentation - you are already light years behind
- If you HAVE started using segmentation for personalized & trigger campaigns - keep working!
And here is why...
According to a new report from CMO.com, a majority 87%t of marketers consider data their organization’s most underutilized asset. That’s a huge gain from 2013, when just 46% felt that way. That's a 41% increase in priority in only a 3 year time span. And there is one good reason why...
In the same study we learned that 90% of marketers are using segmentation, they also found that revenues generated by data-driven marketing grew for 45.7% of US marketers between Q1 and Q2 2015, with 9.0% saying they grew significantly.
We know as a forward thinking marketer, this isn't news to you though! But, all too often we hear how marketers are struggling to prove internally that investing in new technologies will copy this revenue lift for their brands. There is a fair bit of risk for a healthy company that tends to have the perspective "batch and blast has worked for us so far" or similar. Testing new marketing voices, creative, channels, and programs can be high risk and high reward.
Which is why when we saw this Gartner eBook, we know it'd make your Friday Fun. It's a great read on how to leverage segmentation and your customer data to go from sell what's on the truck to delighting your customers!
What's inside: By 2018, Gartner predicts that organizations that excel in personalization will outsell companies that don't by 20%. Understanding who your customers are is the first step in creating great experiences for them.
The Big Flip is your guide to using segments, personas and customer journey maps to better define your customers and create tailor-made experiences that drive revenue and growth.
Now that you have the steps to be a segmentation master, make sure to browse the top headlines for this week!
Top Retail News & Insights
Every Friday we post top trending retail news for you and are now introducing a fun fact to help you benchmark your marketing efforts against peers. Get the articles here.
1. NRF: Off Price - On Point
Forbes recently reported that TJX and Ross had operating profits of 12.4 percent and 13.5 percent, respectively, in fiscal year 2015; in contrast, Macy’s and Nordstrom ended that fiscal year with 9.9 percent and 9.8 percent.
“It’s such a temptation to disintermediate if you’re a brand, because you see the margin, and you see the cost, and what you wholesale it for, and what they retail it for,” Dion says.
“This is not only bricks-and-mortar. The web has contributed to this disintermediation also. When the web was first in its infancy, everybody initially thought that all retail was going to be disintermediated by suppliers. And it didn’t happen. But now, slowly, it is.”
Roller-coaster first-quarter earnings and a muddy start to the current period have many industry executives uncertain about the potential for a second-half spending rebound. Yet they face a delicate balance. While placing too aggressive a holiday order can leave retailers with too much merchandise — forcing them to run unplanned promotions — having too little in stock can pressure their overall revenues.
"I expect we're going to see tremendous discipline on the inventory levels," said Steve Barr, U.S. retail and consumer sector leader at PwC. "Retailers are being very cautious."
Here’s what we found in our own data exploration:
- Today data-driven marketing is either embedded or strategic for 78% of marketers.
- Speed is the second most-cited benefit of data-driven marketing, after accuracy, cited by 67%.
- Sixty-three percent of marketers reported that their spending on data-driven marketing and advertising grew over the last year.
- Fifty-three percent of marketers said “a demand to deliver more relevant communications/be more ‘customer-centric’” is among the most important factors driving their investment in data-driven marketing.
- Sixty-four percent of marketing executives “strongly agree” that data-driven marketing is crucial to success in a hypercompetitive global economy.
4. Gartner: The Four Traits of the Digital Commerce Marketer
- Customer centric
5. Retailing Today: Seven Customers Retailers Should Know
6. One- and Two-Time Buyers
7. Inactive Customers
Learn how to interact with them!