The following originally appeared in ANA/DMA Business Report for the first half of 2018, the ANA/DMA Business Report provides the data and marketing community with a twice per year review that tracks the growth of data-driven marketing (DDM) across four key indicators – expenditures, revenues, marketing channel mix and prevailing business priorities.
No sign of slowing down.
With data-driven marketing expenditures growing at a pace exceeding its three-year average, it’s not surprising that confidence is high and ROI expectations are secure. 58.7 percent of data driven marketers expect to grow their DDM investments further and 59.8 percent report that they expect DDM-related revenue to grow during the second half of 2018.
With all this confidence, why are marketers so unsure of who they are marketing to and where?
Only 15.3 percent reported that their organizations can identify audience members with great consistency and accuracy today. Previous studies point to multiple devices and multiple channels as an impediment in accurately communicating with customers.
Improved customer experience requires improved customer identity.
In the previous edition of this report over three quarters of respondents (76.6 percent) stated that “elevating the customer experience” is a key business priority for their organization. In fact, 57 percent called it a “top” priority. To personalize the experience, a marketer must know who the customer is and what motivates them to shop and ultimately buy. To that end, 58.6 percent of panelists say their organization is intensifying its focus on identity as a business priority. Most marketers (53.5%) have chosen, first and foremost, the development of audience insights for segmentation and targeting as their way of better understanding and satisfying their customers. Just 22.9 percent consider attribution a key focal point.
Marketers have an obligation to customers when accepting data.
The marketer must provide transparency and choice while securing the data as it is used to provide value back to the customer. To learn more about how ANA’s Data, Marketing, and Analytics division (DMA) is partnering with industry leaders to advance the cause of data integrity and the customer experience, visit theDMA.org/structured-innovation.
The ANA/DMA Business Report is published by the Data & Marketing Association – the largest US data and marketing association – with research and analysis provided by Winterberry Group, a New York-based strategic consulting firm serving the advertising, marketing services, media and information industries. Its conclusions are based on results from an online survey of DMA members. Survey data is comprised of the responses of hundreds of survey respondents, including marketers and marketing services (including agency services), and technology providers.