Today’s consumers share tremendous amounts of data about themselves through social channels. The amount of customer data can be overwhelming, and some companies therefore fail to turn the data into useful information and insight. The report Data-Rich and Insight-Poor Marketers Planning to Turn Information Into Intelligence in 2013 Survey Report by Infogroup Targeting Solutions and Yesmail Interactive states that consumers are overwhelmed by the amounts of messages. To get their attention they therefore expect to receive brand messages that reflect their interests and behaviour. This puts focus on the need for marketers to become increasingly relevant and engaging in their consumer communication.
Companies are learning
While almost 80% of the respondents plan to make greater use of customers’ social media data to drive marketing campaigns in other channels in 2013, companies are still learning how to analyse that data. In fact, 39% said they rarely or never customize their messaging by channel based on data insights.
Real-time data collection a challenge
Many marketers aren’t sure how to apply real-time data to their businesses. However, they are starting to grasp the importance making more timely use of customer data to drive marketing campaigns that are personalised to the individual user. More than half of the survey respondents said they have already started implementing real-time data and plan to make greater use of it, and another 30% said they plan on using it for the first time or will start considering it. The real challenge is where and when to inject real-time data in order to create the most impact. Michael Fisher, president of Yesmail Interactive, noted in an interview with CMO.com that in fact, “people are desperate to understand more about their customer. Data can now drive how I would look at you, what I know about you as a customer, and allows me to personalize experiences in a meaningful way.”
One of the most important findings from the report is that marketers do in fact recognize the importance of real-time data, but are still lacking the ability to make use of it and to apply insights at the individual consumer level across customer touch points multiple channels. Good news is that over half of marketers intend to invest in people and technologies that will help them understand their customers on a much deeper level across channels.
An overview of the key findings:
- 68% of marketers said they expect their data-related expenditures to increase in 2013.
- 56% plan on hiring new employees to handle data collection or analysis, with the most common position being a data analyst/strategist.
- Almost half of the respondents said analyzing or applying data will be their biggest data-related challenge in 2013.
- More than a quarter of marketers can’t remember the last time they performed quality control on their customer data.
- Almost 40% said they rarely or never customize their messaging by channel based on insights from customer data.
- 83% plan to at least consider making greater use of real-time data in 2013.
- The majority of marketers use insights from customer data to drive marketing campaigns across the single channels of: website (83%), email (72%), and social media (59%).
- Almost 80% plan to make greater use of customers’ social media data to drive marketing campaigns in other channels in 2013.