New research suggests that marketers are beginning to see the benefits of utilizing data-centric tools, as 64 percent “strongly agree” that data-driven marketing is critical to success in a hyper-competitive global economy.
Furthermore, 47 percent believe that there are several tangible benefits linked to using data-driven marketing. Departing from the traditionally siloed organizational approach to leveraging data, 53 percent of today’s marketers state that there is an enterprise-wide vision for data analytics within their company.
“It’s encouraging that more departments across the enterprise are recognizing the value of using data to engage customers,” said Bruce Rogers, chief insights officer and head of the CMO Practice for Forbes Media. “But this report also shows that for many organizations, challenges remain.”
Breaking down the silos of data between departments (61 percent) and gathering and parsing data (56 percent) are still hurdles for marketing teams. Seventy-two percent remain focused on knowledge gathering.
The Financial Benefits of Data-Driven Marketing
As marketers look to harness and utilize more data, research shows that they are beginning to increase their revenue. The “Future of Content Marketing: The Age of Content Science” report from the Aberdeen Group has found that data-driven content marketing strategies generate five times more revenue than standard practices.
About 58 percent of best-in-class marketers have the option to track site visitors at any time. Nearly 73 percent of these individuals can capture data and save it for analysis. In the future, 67 percent intend to utilize this information to create content that caters to the needs of their target audience.