Direct Marketing News published “Marketers Crave Data” and we couldn’t agree more!
In its third annual “Big Data's Big Payday” report, Infogroup says
- 53% of marketers yearn for more customer information.
- Just one third of marketers feel they collect the right amount of data.
- Sixty-two percent of companies have started investing in data-marketing solutions
- 47% of brands are already seeing a positive ROI from data-related investments, and another 15% expect to see a payoff for the first time in 2015
- Just 21% of respondents say they're very confident in their customer profiles' accuracy and completeness
- 55% of marketers rely on names and 53% on demographic information to personalize campaigns.
- Less than a third use consumer interests, transaction and event triggers, or consumer interactions with brands to personalize campaigns.
- 40% of marketers blame difficulty integrating across channels for the lack of personalization (35% blame lack of quality customer data and 32% blame fragmented systems).
We had similar findings in our own Second Annual Predictive Marketing Survey
- 75% of companies say that the marketing department is the primary owner of all customer data
- 68% of marketers don’t have a unified view of their customers
- Of those marketers who don’t have a unified of customers, 56% plan to invest in this area in the next twelve months.
- In 2015, 76% of marketers will use some form of predictive analytics
- 55% of marketers admit that they cannot cleanse and de-duplicate customer data daily, a requirement to delivering accurate and personalized customer experiences
You can read a prior blog on the topic here.
You can download the entire report here.
What all marketers should know about customer data
- There can be no personalization, or lifecycle marketing for that matter, without first integrating and cleansing all customer data.
- Customer data that matters is not limited to names and demographic data, but includes past purchases and behavioral data.
- Your peers are investing in acquiring, integrating and cleansing customer data right now and so should you!
For those who want to read more about how to build complete and accurate customer profiles, I recommend watching a video tutorial given recently by Barbara Von Euw who is working with working with leading luxury brands such as David Yurman, Tiffany & Co. and Cole Haan, helping them maximize their ROI utilizing strategic direct marketing programs.
You can find the tutorial here.
Also pre-order my upcoming book (with Wiley publishing) on Predictive Marketing.