The starring role of data in how businesses use marketing, purchase advertising and deliver customer experiences is now undeniable. Data-driven marketing has gone from a niche to a globally accepted and universally recognised approach to improving business outcomes, in only three years.
Published for the third time, the annual Global Review of Data-Driven Marketing and Advertising, conducted jointly by the Global Alliance of Data-driven Marketing Associations (GDMA) and Winterberry Group, highlights the rapidly expanding role data-driven marketing and advertising plays in the success of any business.
The study – surveying over 3,200 thought leaders across the marketing, advertising, media and technology industries in 18 countries – also draws attention to data-driven opportunities and business improvement that will derive from investing in marketing technologies.
“It’s a positive sign for marketers to see more and more CEOs and Board members understanding the value and importance of data,” says Jodie Sangster, Chair of GDMA and CEO of ADMA.
“However, in order for businesses to thrive and deliver on customer experience, emphasis must be placed on sophisticated data management and analytics models. Also at the heart of the data-driven revolution is building consumer trust – as businesses look at securing more personal data from consumers, consumers value transparency and want to know if their information is being well-protected. Moving forward, trust will and should play a critical role in an organisation’s business strategy.”
The study highlighted some key insights:
1. Data has become an indispensable marketing asset
2. More than anything else, growing investment in data reflects the importance that marketers vest in the customer and their experience
3. 2016 was “The Year of Measurement”, with organisations becoming sophisticated when it comes to measurement
4. Investment (still) on the uptick
5. Data-driven marketing and advertising works
6. Improvements from the inside out, with better integration would advance data-driven efforts
Jonathan Margulies, Managing Director at Winterberry Group, says:
“Data has grown to play a central role in how businesses around the globe make critical marketing, product development and other investment decisions. With three years of research now in hand, we can conclusively say that the ‘data-driven’ approach has evolved beyond its ‘direct and digital’ origins to represent a centrepiece growth strategy for both promotional marketing and customer experience—and for businesses all over the world.”
To find out more, download the full report here.