Story image

Data is the power behind effective marketing - Research

07 Jun 2018

Research Now SSI, a digital market research data and data services company, has released a report with Econsultancy highlighting survey results which indicate that the need for internal and external data to be of high quality is top-of-mind for marketers.

The report, "Data: The New Oil," explores perceptions and use of integrated data by companies, agencies, technology vendors, and independent marketing consultants to obtain complete and accurate views of their customers and to address the ongoing challenge of measuring campaign effectiveness.

All survey respondents consider the quality of internal data to be important to their businesses, while 93% of client-side respondents see high-quality customer data as 'critical to business success.'

Despite its perceived importance, quality of data is the biggest concern for both client-side (63%) and agency respondents (61%), significantly ahead of the second biggest concern, the expense of data.

63% strongly agreed that time spent on improving data quality is always time well spent.

Quality third-party data is becoming necessary to enable differentiation, targeting, and personalisation, which is critical for success in an era of high consumer choice.

Confidence in third-party data differs quite significantly between client-side and agency respondents.

Agencies are far more confident than the client-side in the quality of the data that their clients are using; 41% are 'extremely confident,' compared to only 17% of respondents from companies themselves.

However, the picture is positive overall, with confidence in third-party data quality generally good, with "lack of trust in data sources" low at 12%.

The report is based on an online survey of 2,250 marketers carried out by Research Now SSI and Econsultancy in April 2018 in the US, the UK, Canada, Australia, Ireland, and New Zealand.

Research Now SSI and Econsultancy worked together to design the survey and extract key themes.

"People want to know how best to augment customer data with a broad spectrum of quality second and third-party data to improve targeting and extend campaign reach," says Research Now SSI product development senior vice president Jared Schiers.

“Measuring campaign effectiveness continues to be a struggle for many marketers. More than 40% of client-side marketers stated that effectiveness is 'impossible to measure,' and even more agencies agreed. When asked where in the advertising cycle participants or their clients currently use external data sources, the top three responses included insights and analysis, segmentation, and effectiveness.

“As confidence in data quality becomes more robust, the industry will need to educate marketers on the availability of external data and how they can utilise it to drive campaign effectiveness and, ultimately, its measurement.”

Microsoft appoints new commercial and partner business director
Bowden already has almost a decade of Microsoft relationship management experience under her belt, having joined the business in 2010.
Zoom’s new Rooms and Meetings features
Zoom has released information about the upcoming releases for its Rooms and Meeting offerings for 2019.
Aussie company set to democratise direct-to-orbit IoT access
Adelaide-based Myriota has released a developer toolkit that has been trialled and tested by a smart waste management platform.
Apple's AirPods now come with 'Hey Siri' functionality
The new AirPods come with a standard case or a Wireless Charging Case that holds additional charges for more than 24 hours of listening time.
Dynatrace takes pole position in APM Magic Quadrant
It placed highest on Ability to Execute and furthest on Completeness of Vision in the 2019 Quadrant for Application Performance Monitoring (APM).
HCL and Xerox expand strategic partnership
Under the terms of the agreement, HCL will manage portions of Xerox’s shared services, including global administrative and support functions.
Avaya expands integration with Google Cloud AI
This includes embedding Google’s machine learning within conversation services for the contact centre, enabling integration of AI capabilities.
Forrester names Crowdstrike leader in incident response
The report provides an in-depth evaluation of the top 15 IR service providers across 11 criteria.