Data is an integral component to any successful marketing or advertising strategy. Once a novel concept, data-driven marketing is now essential for establishing meaningful connections and personalized experiences with today’s consumers.
In research by the Winterberry Group in partnership with the Global Direct Marketing Association (GDMA), almost 80% of respondents said that they see customer data as critical to their marketing and advertising assets. More than half (53.4 percent) increased their year-on-year spend on data-driven marketing and advertising in 2016.
Additional findings from the report include:
Almost 90% maintain databases to host information on customers and prospects to improve how they manage and use data
88% are actively segmenting information to better target and engage customers for activities and offers
64% of respondents are purchasing third-party data to support targeted marketing campaigns
Marketers are also spending more on data strategies. In another report conducted in 2016 by Winterberry in conjunction with the DMA, over 40% of respondents in the survey said they expected their use of data-driven marketing to “increase somewhat” or “increase significantly” in Q4 2016. More than 40% of executives also said that they expected their Q4 2016 revenues generated by data-driven marketing efforts to “increase significantly” or “increase somewhat.”
How Reliable is Your Data?