A majority of B2B and B2C marketers say that customer engagement for their organization is data-driven. Likewise, data is also considered very important to the success of D2C brands. A new report [download page] from Stirista looks at the importance of data to D2C strategies and how brands go about purchasing that data.
When the 100 D2C, mid-tier and Fortune 100 brand respondents (with a focus on personnel at D2C brands) were asked to rate how important the use of data is to the success of their brand on a scale of 1 to 10 (10=extremely important), three-fifths (61%) ranked it between an 8 and 10. And, with D2C brands recognizing the importance of data, it’s no surprise that in the next 12 months D2C brands will be focusing on data to drive business. Many will be using strategies such as leveraging transactional and behavioral data for personalization (46%) and analyzing Big Data from external sources to generate insights (39%).
The survey also asked respondents what marketers and data analysts should be aware of when looking for a data provider. Data quality (64%) and the reputation of the provider (60%) both ranked high among the lion’s share of respondents. When it comes to data quality, respondents consider accuracy (25%), timeliness (22%) and validity (18%) to be most important in their decision-making process when selecting a new data provider.
However, although consumers continue to voice concern about not having control over their data, fewer respondents to this recent survey think privacy and security protocols of the provider (48%) and the methods a provider uses to secure data (40%) are areas to be on the lookout for when looking for a data provider. In fact, the privacy and security protocols of the provider were at the bottom of the list when respondents were asked to name the most important factor to look for.
The full report can be found here.
About the Data: Findings are based on a survey of 100 D2C, mid-tier and Fortune 100 brand respondents, with a focus on personnel from D2C brands.