As marketers look ahead to 2016, research indicates that they are putting more confidence in data-driven marketing and advertising to help them evolve. The second annual “Global Review of Data-Driven Marketing and Advertising” report supported by MediaMath and produced by The Winterberry Group and the Global DMA discovered that 81 percent of global marketers describe data as important to their efforts.
Over the past year, 36.7 percent of marketers from the U.S. said that they have seen a moderate increase in their data-driven marketing and advertising spend. Further, in the coming year, 39.1 percent expect this amount to rise again.
In 2016, marketers expect to spend more in data-driven areas including predictive analytics, data compilation, social media management, SEO, email and digital display advertising. Statistics show that they also intend to increase spend on customer contact and support through means such as social media engagement.
“Data is adding value to enterprises across the globe and the research offers an important validation of how responsible marketers intend to use, and safeguard, data for the betterment of consumers’ everyday brand interactions,” said Jonathan Margulies, managing director of the Winterberry Group.
Benefits of Data-Driven Marketing
Research shows that marketers have already seen the benefits of integrating data into their overall strategy. The “Data Driven and Customer Centric: Marketers Turning Insights into Impact” report from Forbes Insights found that 64 percent “strongly agree” that data-driven efforts are essential to success in a hyper-competitive economy.
Additionally, 47 percent stated that there are several measurable benefits to using data-driven marketing. Looking forward, 53 percent claim that there is an enterprise-wide vision for the utilization of data analytics within their company. About 72 percent of marketers are focused on data gathering.