News provided by: BlueConic, Aug 14, 2024, 08:05 ET
Half of marketers surveyed say technical tasks and technology that isn’t fit for purpose hamper effective customer data utilization
BOSTON, Aug. 14, 2024 /PRNewswire-PRWeb/ — An exclusive survey from market-leading customer data operating system (OS) BlueConic has revealed that unrealistic technical demands and technology gaps are the biggest hurdles facing marketers from benefiting from their customer data.
The findings come from a survey conducted in partnership with WBR Insights, which interviewed 100 senior marketers and executives at top business-to-consumer brands. More than half of the respondents (51%) come from companies with more than $1 billion in annual revenue.
To be successful, marketers need the most relevant knowledge of who they are trying to connect with, at the moment of interaction. However, our survey shows that they are being asked to do SQL and other technical tasks that have never been a part of the marketing job description before.Post this
Key findings from the survey include:
● Tools that require marketers to code like engineers create challenges for hands-on doers: 50% of marketing leaders are either uncertain about their teams’ skill sets, or do not believe their teams possess the necessary technical skills to effectively utilize customer data in their marketing strategies.
● Technology infrastructures fall short: 71% identify integrating new technologies with existing processes as the biggest obstacle to being data-driven, while 81% rate their technology infrastructure as only adequate for now, partially adequate, or inadequate. In addition, 72% of the respondents struggle to integrate data from multiple sources and platforms, while 56% struggle to ensure data quality and cleanliness.
● Organizational silos persist: 67% believe that a unified vision and understanding of data’s value across departments is the best way to support effective collaboration on customer data initiatives. Yet 47% say their marketing teams only collaborate with IT, sales and customer service occasionally or rarely.
● Customer insights aren’t actionable: Only 14% of respondents said their organization was highly effective in putting customer data into action. In contrast, over half of respondents rated their ability to put customer data into action as only moderately effective (25%), somewhat ineffective (30%) or not at all effective (1%).
● Data remains a double-edged sword: Although first-party customer data is regarded as the foundation for growth, marketers are grappling with maximizing the benefits. Analyzing large volumes of data was cited as the top challenge by respondents (29%) with another 22% ranking it as their second most difficult challenge. The second biggest challenge for marketers is managing data privacy and consent issues (28%) with 15% placing it as their second biggest challenge.
● Future investment: Despite the top technological challenges, there is a notable shift in priorities, with a substantial 67% of respondents planning to invest in enhancing their organization’s ability to adhere to privacy and security regulations in the next 12 months. Prioritizing the ability to integrate data from multiple sources and platforms is a key consideration for 58%, while 57% are focusing on the ability to analyze large volumes of data efficiently and another 57% will invest in initiatives that ensure data quality and cleanliness.
“To be successful, marketers need the most relevant knowledge of who they are trying to connect with, at the moment of interaction, in order to make a resonant connection. However, our survey shows that they are being asked to do SQL and other technical tasks that have never been a part of the marketing job description before,” said Patrick Reynolds, CMO at BlueConic. “These findings emphasize the need for no-code tools that provide marketing and other hands-on doers with access to data and the means to apply the insights to high-performing actions in market – without coding or submitting tickets to other departments.”
The findings of the research will be discussed in more detail as part of an upcoming webinar titled “Navigating the Data Deluge: Strategies for Putting Customer Data into Action.”
When: Tuesday, August 20, 2024 • 1:00 p.m. Eastern Time.
Where: Register here.
About BlueConic
BlueConic is the operating system that puts data into action for marketing and growth doers. The industry-first solution empowers doers with an unmatched range of capabilities to access relevant customer data, create resonant customer experiences, and drive maximum returns for their business. More than 500 businesses worldwide rely on BlueConic to unlock their full customer data potential, including Forbes, Heineken, Mattel, Michelin, Telia Company, and VF Corp. Learn more at www.blueconic.com and follow us on LinkedIn @BlueConic.
Notes to Editors:
The survey was conducted in partnership with WBR Insights, which surveyed 100 senior leaders from consumer brand manufacturers and multi-brand sellers between March 19-April 10, 2024. The respondents represent companies that manufacture and sell a variety of consumer products, including health and beauty (9%), apparel (8%), auto and transportation (8%), and home furnishing goods (8%), among others. The organizations represented in the report vary in size, as measured by annual revenue. More than half of the respondents (51%) come from companies that make more than $1 billion in annual revenue. Participation was voluntary, and respondent identities were confirmed by phone before completing the survey.
Media Contact
Karolina Throssell, Iden, 44 07855751005, karolina@iden.global, www.blueconic.com
SOURCE: BlueConic