Too many marketers are still not sufficiently confident of their data
By our News Team | 2022
Almost half of top marketers questioned in global study say that access to the right customer data is ‘hit or miss’.
More than 60% of marketers are only moderately confident, or worse, in their data, analytics and insights systems, while almost 50% say access to relevant customer data is hit or miss.
These are among the findings of a study on data-driven marketing conducted by the Chief Marketing Officer (CMO) Council and GfK, an international market intelligence company.
The High-velocity Data Marketer report is based on a survey of over 300 marketing leaders globally. Additionally, the group conducted in-depth interviews with executives at various institutes.
Photo by Azraelito via Wikimedia Commons
This new research examines the high-velocity data marketing maturity curve, including:
- Critical capabilities today.
- Plans for the next 12 months.
- Gaps between top performers (marketing leaders who are most confident in their data, analytics and insights systems to win and retain customers).
- Bottom performers.
Among the key findings from the survey:
- 39% of top performers say the journey from data gathering to actionable insights is fast or immediate, compared to only 7% of bottom performers.
- 60% of top performers say their data, analytics and insights systems are very agile and adaptable, compared to 9% of bottom performers.
- 30% of top performers use AI pervasively in multiple systems, compared to only 4% of bottom performers.
“CMOs around the world have entered a new era of high-velocity data marketing,” says Donovan Neale-May, Executive Director of the CMO Council.
“Many need to get better at extracting relevant data signals across channels, generating actionable insights, making insights available in real-time, and going deeper and more granular with customer insights.”
Adds Gonzalo Garcia Villanueva, CMO of GfK: “CMOs today need to manage hyper-targeted brands and messaging across thousands of potential touchpoints.
“Mastering this new landscape requires the best dashboards and data — yet our research shows that relatively few CMOs actually have the sophisticated insights and tools they need.
“Marketing leaders need to partner with CTOs, commercial leads and other key stakeholders to be sure that organisations have the high-velocity data and platforms they need to meet aggressive growth targets. CMOs are uniquely positioned to curate those insights, informing essential decisions through just the right combination of learnings,” concludes Villanueva.