The most recent Ascend2 survey, “Marketing Data Management,” uncovered how organizations are using data to achieve success. Sixty-eight percent of respondents cite that the most important goal of a marketing data management strategy is to improve ROI measurability.
An additional 63 percent hope to improve data quality, and 55 percent hope to increase data use and accessibility.
Fifty-four percent of companies agree that making more accurate business decisions is the most valuable benefit of employing marketing data. The majority (60 percent) of respondents also believe that their data strategy is above average compared to competition.
Researchers found that “poor access to marketing data will limit its use. And if the marketing data is of poor quality, it will have limited usefulness.” Other barriers standing in the way of marketing data management success include poor database integration (40 percent), lack of ROI measurability (35 percent) and it not being a budget priority (34 percent).
Despite these barriers, marketers are making the most of their data through campaign targeting, content personalization, and customer journey analysis.
Data Management’s Impact on Marketing Automation Adoption
The recent “2016 MarTech Data Report” from Openrise found that marketers are lagging in the adoption of marketing automation software – only one-third of marketers have implemented a marketing automation platform (MAP).
However, those who have implemented a MAP only report “basic” to “moderate” usage because of time and budget constraints. An additional 30 percent of marketers with a MAP in place have difficulty with data quality, and 23 percent find it a challenge to manage all of their data.
The report did find that marketers become more comfortable with a MAP over time: “Many marketers are picking up ‘good enough’ MAP skills by simply working with it on a daily basis,” says Ed King, Openrise.