Report: 37% of Marketers Waste Marketing Spend as a Result of Poor Data

Many marketers struggle to harness valuable, accurate data, and new research shows that they are wasting their marketing spend and losing customers as a result.

Forrester recently published the “Why Marketers Can’t Ignore Data Quality” report, and statistics found that 37% of marketers waste marketing spend as a result of poor marketing/media data quality. About 35% suffer from inaccurate targeting, and 30% have lost customers due to this problem.data

 

Over the past 12 months, an average of 26% of marketing campaigns have been hurt by poor data quality, amongst the respondents in the report.

Marketers believe that there are many benefits to making improvements to their marketing/media data quality. The top advantages include improved customer experiences, improved customer targeting, faster decision-making, and reduced media spending waste.

Delivering a Meaningful Customer Experience through Data

Many marketers are convinced that they can deliver a personalized customer experience when they take advantage of customer data, in particular, according to previous research.

Merkle published the “Customer Engagement Report,” and most respondents (78%) stated that they are already able to deliver a personalized customer experience via email using customer data.

Most of the respondents (32%) said that if they had extra money in their marketing budget, they would first invest it in data, analytics and technology, highlighting its importance to overall marketing strategy.

About 68% of marketers said email is the highest priority customer data type to acquire.

“The team at KoMarketing does a great job providing best practices, new ideas, and management of our PPC program. They went above and beyond to meet our needs. The decision to partner with them was one of the best thing that has ever happened to us”

John Yeung — John Yeung, Digital Marketing Manager, Stratford University

Get the latest b2b digital marketing information: