Marketers Having Trouble Utilising Data
Martech Outlook | Monday, November 28, 2022
The new data was compiled from a survey administered by ClickZ of more than 100 senior-level marketing executives who shared their opinions on the current state of their own personalised marketing.
FREMONT, CA: MoEngage, the insights-driven consumer interaction platform, has released the report Future of Marketing: Why Personalisation Matters. The research includes fresh information gathered from a survey conducted by ClickZ of more than 100 senior-level marketing executives who provided feedback on the state of their personalised marketing at the time.
According to the experts, marketing leaders do not think their present efforts at personalisation are effective enough. Only 34 per cent of respondents gave their happiness with the personalisation outcomes a score of 4 or above. The most major obstacles to successful personalisation are budget constraints or a lack of resources (64 per cent), followed by a lack of visibility and usable data (41 per cent) and an inability to move quickly and personalise efforts (40 per cent).
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The survey's most telling statistic may be the admission by 40.2 per cent of marketers that the biggest obstacle to effective personalisation is their inability to act quickly and develop customised programmes. It can take weeks or even months to translate data into action.
Consumers are prepared to allow businesses to use their data in marketing communications, but that consent is granted with the expectation that they would get something significant back from the brand, says the Vice President of Marketing, North America for MoEngage. This study demonstrates that companies still have a long way to go before delivering on their promise to provide each client with a completely personalised experience across all channels of contact.
This research supports what many international clients have already shared with us: marketers have a wealth of customer data but often struggle to properly analyse and apply it.
Other significant conclusions from the study include the following:
Marketers need better data: Almost 60 per cent of respondents gave a three or below rating for their satisfaction with the customer data that was made available. As a result, a significant portion of responders needs more than four days to convert marketing data into useful campaigns.
Despite increasing their investment, marketers are not satisfied: To further personalise their customers' experiences, just over half of poll participants (51 per cent) plan to increase their marketing technology spending in the upcoming year.
Email marketing continues to be the most popular marketing technology. Among the top technologies where brands are investing in marketing technology are email marketing (66.3 per cent), marketing automation (56.7 per cent), customer data management (54.8 per cent), personalisation (50 per cent) and multichannel customer engagement (46.2 per cent), as well as mobile marketing (37.5 per cent) and artificial intelligence (32.7 per cent).
Personalisation is Changing Investment Priorities:
Traditionally, firms have concentrated their marketing personalisation efforts on web pages (24.3 per cent), email (69 per cent), and content (56 per cent). Teams, though, will change where they concentrate their personalisation in the future. Regarding individualised marketing, respondents' top three channel priorities were SMS/text messaging, chat applications, and mobile-in-app marketing.
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