Further evidence – if it were needed – of the growth in data-driven marketing and the use of predictive analytics and segmentation has been released by the Global Direct Marketing Association.
Of course, for anyone working in the DM industry this is hardly news – most have been banging the drum for years – but within the wider marketing community, data-driven marketing has always been viewed as being about as exciting as watching paint dry.
But according to the second annual Global Review of Data-Driven Marketing & Advertising report, 81.3% of marketers now see data as important to their efforts as they strive to become customer-centric.
This may only be up slightly on last year but it is heading in the right direction at least.
In addition, 59.3% described data as ‘critical’. Nearly three-quarters of respondents also remain confident in the value of data-driven marketing and advertising and its potential for future growth.
Just under 57% said they increased spending on data-driven marketing and advertising last year, and 68.6% expected to increase investment in 2016.
Globally, improved measurement and attribution techniques and better training topped the list of key elements needed to advance how marketing derives value from data-driven marketing programs.
“Technological advances are transforming the ways organisations can harness data to meet business objectives but it is clear that measurement and attribution methodologies need to evolve in order to better support marketers to build the value case,” chair of the GDMA and CEO of ADMA, Jodie Sangster, said.
“Improved measurement capabilities, along with an appetite for more skills and training around analytics, are global requirements and should be a key focus of our industry in order to continue to foster growth and innovation.”
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