Last month we published our second annual survey on predictive marketing trends. We received responses from 132 marketers, primarily at mid- to large-sized retailers.
Here are some of the headlines of the research (or download the full report here):
1. Marketers predominantly own customer data
We didn't ask this question last year, but this year 75% of companies say that the marketing department is the primary owner of all customer data. Anecdotally we know that this is a huge increase from five years ago. However, we wholeheartedly support this trend.
2. Omni-channel marketing strategies are still immature
In addition to the use of analytics, we focused on omni-channel marketing in this year's survey and found that most marketers feel that they do not yet have a cohesive omni-channel strategy. 86% said they don't have a cohesive omni-channel strategy, 83% don't have a single solution to manage campaigns across all channels and 68% of marketers don't have a unified view of their customers.
3. Marketers invest in a unified view of the customers
Of those marketers who don't have a unified of customers, 56% plan to invest in this area in the next twelve months. That is huge! In addition 42% of those who don't have an omni-channel strategy, plan to invest in this area. It looks like marketers have their priorities straight. Invest in creating complete and accurate customer profiles first, then bridge the gap to use this data to create relevant omni-channel experiences.
4. The use of predictive marketing is on the rise
In 2014, 69% of marketers used some form of predictive analytics - if only recommendations or other - whereas in 2015 the percentage had risen to a whopping 76%. Most marketers are running one form of personalized campaign or another. Soon, it will no longer be acceptable to rely only on batch and blast campaigns. In 2014, 87% of marketers ran at least one personalized campaign and this percentage had risen to 91% in 2015.
5. Data quality remains a bottleneck to predictive marketing
Collecting all customer data in one place is difficult enough, but cleaning, de-duplicating and preparing the data for analysis is near impossible for most marketers. 55% of marketers admit that they cannot cleanse and de-duplicate customer data daily, a requirement to delivering accurate and personalized customer experiences. While cleaning customer data is not sexy, even the New York Times recently wrote about the importance of 'data janitor' work as a pre-requisite to analytics here.
If you want to read the complete results of this survey, including which predictive models and which omni-channel campaigns your peers are adopting, download a copy of our Second Annual Predictive Marketing Survey here.