New research from Teradata and Celebrus Technologies highlights challenges and benefits of data-driven marketing
London, UK, 5 February 2014 - Teradata Corp. (NYSE: TDC), the leading analytic data platforms, applications and services company, and Celebrus Technologies, providers of tagging-free digital big data software, today announced the results of their recent market research on trends in data-driven marketing. The joint study reveals that 70% of digital marketers believe that achieving a single customer view will provide improved marketing personalisation but less than a quarter (21%) reported that they currently had a single view of their customer’s interactions.
Other key statistics include:
• 80% of digital marketers believe that personalisation will be key to digital marketing success in next two years and 51% say it already is.
• 36% of digital marketers identified data storage and integration as their biggest data challenges with only 39% currently storing all of their customer data in a single centralized data warehouse.
• 47% of respondents identified “lack of time” as the top barrier to better customer analytics.
• Surprisingly, given the proliferation of mobile devices, only about a quarter of respondents (27%) see mobile marketing as a priority.
The single customer view is still a hot topic amongst marketers, but less than a quarter (21%) reported that they currently had a single view of their customer’s interactions. However this is set to more than double in the next two years, with 57% predicting that they will have achieved a single customer view by the end of 2016. To achieve this target, almost half of respondents recognised the need to store their customer data in appropriate systems such an integrated data warehouses (49%) and/or technologies such as Hadoop (27%), rather than in separate data marts or with third parties.
Additionally, analytics is becoming increasingly sophisticated within marketing as more and more organisations realise how it can enhance the effectiveness and profitability of campaigns. This success can be hard to achieve, with the survey showing the top barrier to better customer analytics is lack of time (47%), followed by lack of internal skills and expertise (37%). To overcome this, respondents cited a growing focus on resourcing specialist in-house analytics teams to drive customer analytics, increasing from the current 40% using in-house specialists to 51% in two years’ time.
“The research shows that organisations truly want to understand the journeys of individual customers as they interact across a multitude of different channels,” said Ruth Gordon, Director Digital Marketing, Teradata International. “This is a challenge for Digital Marketers as it requires not only the tools to capture these interactions, but also the advanced technology and skill-sets to analyse this data to achieve insight and drive action.”
In today’s world of ‘treat-me-as-an-individual’ consumers, the role of personalisation is becoming ever-more important, with 80% seeing it as key to their digital marketing success over the next two years, versus just 51% today. Moreover, 78% plan to use real-time data in their channel personalisation in the future, compared to 44% using real-time data today.
“The ‘always on, always connected’ consumers of today are demanding more engaging and relevant content from brands and organisations. They expect to be communicated with as an individual and organisations that fall short of this are missing a key component of their customer engagement,” commented Katharine Hulls, VP Marketing at Celebrus Technologies. “The results of this research reinforce the notion that the fast paced, data- generating world we live in today requires organisations to have data collection and analytics capabilities on an unprecedented scale. We believe that every business has the potential to unlock the insights within their customer data and transform their digital marketing, as long as they have the right data foundations to understand their customers as individuals.”
To learn more about the Teradata-Celebrus research and discuss the findings in full, you can register for a webinar by clicking here: http://marketingfinder.co.uk/webinars/digital-marketing-2014-how-harness-your-customer-data?utm_source=Celebrus&utm_medium=Email&utm_term=Celebrus
The Digital Marketing Insight Report 2014 was carried out by MyCustomer.com and is based on a European Survey of 115 marketing professionals working in a variety of industry sectors. The survey was live during November 2013. MyCustomer promoted the survey to in-target segments of its readership via email marketing and social media promotion. The research was intended to survey a broad cross section of sectors and company sizes with a bias towards marketing and data job functions. The research sample targeted the UK, France and Germany markets. For full details of the methodology and research results you can access a copy of the report here: http://www.celebrus.com/digital-marketing-insight-report-2014
Celebrus Technologies (www.celebrus.com) enables organisations to understand their individual customers' interactions across the digital channels they own, including websites, mobile apps and social media. Celebrus' award winning tag-free digital big data software then feeds this data into a wide variety of big data technologies in real-time. Celebrus' global blue chip clients use this highly granular data to power advanced customer analytics and real-time personalization and to drive actions that maximize revenue, marketing effectiveness and brand loyalty. Celebrus partners with world-leading technology companies to provide integrated solutions that meet critical business goals. Celebrus also has global reach with their fast and flexible digital data and real-time personalization platforms available from resellers across the world.
Sister company Magiq's (www.magiq.com) LifecycleMAGIQ SaaS solutions provide real-time, cross-channel, lifecycle marketing capabilities for online marketers looking to optimise spend and activity quickly and simply. Through using individual customer data across multiple channels, organisations will achieve increased conversion rates, enhanced sales and optimised customer engagement.
Teradata (NYSE: TDC), a global leader in analytic data platforms, marketing and analytic applications, and consulting services, helps organisations become more competitive by increasing the value of their data and customer relationships. Visit teradata.com for details.