Report: Marketers are Failing to Tap Into The Potential of First-Party Data

New research suggests that marketers now have easy access to first-party data, but they are not yet tapping into all of its potential.

MightyHive recently published “The Data-Confident Marketer” report and discovered that the top four reasons for using first-party data among marketers were improved performance/ROI, accuracy/data quality, more precise targeting and improved measurement and attribution. However, the majority of respondents (40+ percent) said they were only tapping into between 21 and 40 percent of their company’s first-party data potential.

data and analytics

“Data-confident marketers clearly feel they are on the cusp of first-party data making a substantial impact on their marketing,” wrote the authors of the report. “However, this optimism isn’t universal, with many marketers assuming that first-party data will take longer to crack or will yield less-impressive dividends.”

Data Exhaust as a Primary Concern for Marketers

Previous research indicates that marketers may be simply overwhelmed with the amount of data at their fingertips, and much of it is now being tossed aside.

Data exhaust is a term used to describe data that marketers allow to fall by the wayside because it provides less or no value to the core business. To determine marketers’ attitudes toward data exhaust, Digital Element published the “Digital Data Exhaust Report.” The research showed that most marketers (39 percent) are “very concerned” with data exhaust.

Nearly 29 percent were at least “somewhat concerned” with it. When it comes to data that is thrown away, the majority of respondents (29 percent) said they toss aside up to 25 percent of data.

“After several failed attempts to find a good SEO product, we were lucky enough to get introduced to KoMarketing. Derek and his team were able to clearly articulate an SEO strategy for our business. They worked closely with our developers to revamp our commerce site in a way that had minimal redesign impact, but big increases in organic visits and transactions. The team also did a fantastic job helping us measure results. I highly recommend KoMarketing to anyone looking for an SEO solution.”

— Kevin Bridges, Innovation Leader - Imagineer at Hallmark Cards

Start a conversation with the KoMarketing team:

Complete our inquiry form now