43% of Marketers Believe Their Data Acquisition Strategy Needs Improvement

Customer data continues to be a crucial part of marketers’ strategies, and new research indicates that there is room for improvement when it comes to data acquisition.

DemandGen recently published its “2022 Database Strategies & Contact Acquisition Survey Report,” and statistics suggested that although 77% of marketers currently have a data acquisition strategy in place, 43% believe that significant improvement is needed.

In terms of the biggest challenges marketers are facing in this area, the majority (71%) cited old/outdated data. About 64% stated that they do not have the time or resources to implement an effective process, while 52% still don’t have a standard operating procedure for marketing and sales teams to keep data up to date.

“Many marketers realize that they cannot tackle these challenges alone and are partnering with outside vendors to help break down data silos, enrich existing buyer insights and keep their contact database up to date,” researchers stated in the report.

Using Customer Data to Achieve Marketing Goals

As marketers’ reliance on customer data continues to grow, previous research has already suggested that they will need to refine their data-driven strategies if they want to see more return-on-investment.

Ascend2 conducted the “Data-Driven Marketing Report,” and statistics indicated that the majority of marketers are only “somewhat satisfied” with their team’s ability to make effective decisions based on customer data. That being said, 45% would like to improve their data quality, and 38% want to leverage more of their available data in the future.

Most marketers (42%) find customer data useful for personalization, while 38% said it’s helpful for email marketing initiatives.