You’ve heard about everything becoming more and more digital.
Now it’s time to get more familiar with “individualized marketing” and “data-driven initiatives,” because they’ve gone from futuristic buzzwords to tangible business priorities virtually overnight.
A new study from Teradata reveals that marketers have more than doubled their use of data-driven marketing in the past 18 months: 78 percent of marketers now use data systematically, versus just 36 percent in 2013. That’s a huge jump.
And that’s not the only dramatic shift in how companies and marketers are prioritizing and utilizing data and integrated marketing platforms. Here are some of the key takeaways from the study:
- 90 percent of marketers say individualizing their marketing strategy is a priority.
- 43 percent of marketers say they now control their company’s customer data (compared to 34 percent in 2013).
- 84 percent agree that making marketing and IT into strategic partners is vital.
This is the new face of digital marketing…but common challenges apply:
- Just 50 percent of respondents say they routinely use data to engage consumers.
- 80 percent say silos within marketing prevent them from fully understanding how campaigns are performing across different channels.
- When asked what their biggest challenge is, 38 percent say it’s improving customer acquisition; 29 percent say it’s proving support of corporate objectives; and 26 percent say it’s meeting regulatory compliance.
Most will agree with Teradata Marketing Applications president Darryl McDonald when he says, “It is clear from these survey results that the future of marketing is all about meeting the expectations of the individual consumer.”
What about that integration, though?
Here’s the infographic: