Data-Driven Marketing- [Infographic]

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Statistics on Data-Driven Marketing

*Graphic by Kaycee Elm*

To Data Drive or Not to Data Drive: The Statistics behind Data-Driven Marketing

Check out our last article and podcast about data-driven marketing optimization to better understand how marketers are embracing this newer type of marketing, and thriving while doing it! Here are some of our favorite statistics on data-driven marketing by Google/Ecosultancy, Forrester, DMA, Ascend2, Adobe, and more.

The Priority

How much are business leaders prioritizing data to drive their marketing? Is this something that seems to be a common theme for top marketers?

1. Understanding customer interactions across all touchpoints is the #1 challenge for marketers. (Forrester and DMA)

2. Leading marketers are 1.3x more likely to have a documented data and analytics strategy and 1.5x more likely to have a clear view of their customers’ journeys (Google/Econsultancy 2017)

3. In research by Ascend2 and Research Partners, the most important data-driven marketing objectives cited by marketing professionals include:

    • basing more decisions on data analysis (51%)
    • acquiring new customers (45%)
    • integrating data across platforms (43%)
    • and enriching data quality and completeness (37%)

4. 64% of marketing executives “strongly agree” that data-driven marketing is crucial in the economy. (Forbes)

5. 88% of marketers surveyed by Forbes use data obtained by third parties to enhance their understanding of each customer. (Forbes)

6. 1/3 of marketers identified cross-device ID as a priority in their organization. (Winterberry Group & DMA)

7. The ability to gain a whole view of the customer depends in part on the integration of data from different sources. So which sources are being used to augment data-driven marketing? According to a survey by Adobe, the top 3 ways marketers are adding value include the use of CRM data, real-time data from analytics, and by integrating analytics across channels. (Adobe/Marketing Charts)

    • 58% CRM
    • 40% Real-time data from analytics
    • 38% Integration analytics across channels

Advantages

Not only are top marketing professionals swearing by data-driven marketing, but there are also some very clear benefits statistically (don’t just take people’s word for it- we’re all about the data!)

1. Companies that adopt data-driven marketing are more likely to have an advantage over the competition and increase profitability. In fact- they are six times more likely to be profitable year-over-year.  (Forbes)

2. 66% of marketing data is used to better focus on targeting offers, messages, and content. (Forbes)

3. GlobalDMA found that 49% of marketers use data to enhance customer experience. (GlobalDMA)

4. One-third of industry professionals highlight that the right technologies for data collection and analysis are essential for a better understanding of customers. Currently, 44% of marketers say they have data management platforms, and 33% are planning to have one. (Digital Doughnut)

Roadblocks

If all the data shows that businesses are prioritizing data-driven marketing and that there are remarkable results, why aren’t there thousands of million-dollar success stories out there? There are still some roadblocks in the process…

1. Research by CMO Council showed that an inadequate budget was the biggest obstacle for marketers to start using data-driven customer strategies. (CMO Council)

2. 75% of marketers say that the lack of education and training on data and analytics is one of the biggest setbacks for data-driven decisions. (source: Google/Econsultancy 2017)

3. Customers expect companies to recognize and engage with them in real-time. Unfortunately, few marketers are able to act this quickly. In the study by CMO Council, 7% of survey respondents say they’re always able to deliver real-time, data-driven experiences across physical and digital touchpoints. And while 52% of respondents say they can deliver some of these experiences, they can only do so via marketing-owned (28%) or mainly digital channels (24%). (CMO Council)

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