Are Marketers Leveraging Data-Driven Insights For Their Top Priorities?

Teradata-Marketers-Ability-to-Leverage-Data-Insights-for-Priorities-Jan2015Source: Teradata [download page]

    Notes: Almost half of marketers report significant pressure to be more data-driven in their efforts, according to a recent report from Teradata, with this aligning with other research similarly showing that marketers are under pressure to become more analytic. The Teradata survey, fielded late last year among more than 1,500 marketers worldwide, also found that 87% consider data the most underutilized asset in marketing organizations, almost double the share (46%) feeling that way a year earlier. With a majority of respondents ascribed benefits to data-driven marketing such as more accurate (67%) and faster (59%) decisions, the study notes that marketers are currently most able to fully leverage insights from data for customer acquisition and retention (53%) and to prove marketing effectiveness by measuring outcomes and ROI (45%).

    Curiously, though, proving marketing effectiveness ranks as the lowest priority among those tracked, cited by just 3% of respondents. That’s despite many studies last year detailing marketers’ concerns with proving their value. The study’s authors suggest that “some marketing executives may be shying away from taking on the ROI and efficiency issues head on… partly because they are not yet adept at using insights from data analytics.”

    The top priority for marketers surveyed? Customized messaging and a personalized customer experience.

      Related: How Data Analytics Changes Marketing Campaigns

        About the Data: The survey was fielded among 1,506 marketing and communications executives worldwide, representing all major industries. All respondents came from companies with at least $100 million in revenues, with half hailing from organizations with more than $2 billion in revenues.