As more marketers turn to data to create a more robust customer experience, new research suggests that they want to be more “data self-sufficient.” That being said, they still face barriers when it comes to achieving this primary goal.
Sizmek recently conducted the “Marketers Survey Results 2018: An Insider’s Look at Data, Walled Gardens, and Collaboration” survey and found that 84 percent of marketers are prioritizing “being data self-sufficient/working toward becoming data self-sufficient” within the next 12 months. About 88 percent of respondents also said that they want to create campaigns from their own data.
However, 66 percent of marketers agree that “walled gardens” – closed systems with little room for free data movement — are preventing them from improving their first-party data.
To overcome this barrier, 9 out of 10 marketers say they need partners who allow them to own the data created from their campaigns.
“To take advantage of owned first-party data, the most effective solution in terms of implementation and cost is an integrated data management platform (DMP) and demand-side platform (DSP),” wrote the authors of the report.” About 75 percent of marketers list integrated technology as either a critical or high priority in the next 12 months.”
Dissatisfaction with Third-Party Marketing Data
As marketers look in-house for data and analytics, previous research shows their dissatisfaction with data from third-party sources.
Lotame published “The State of Audience Data Research Report” and discovered that when purchasing demographic data, accuracy is “very important” to the majority (84 percent) of marketers. That being said, only 20 percent are “very confident” in the data accuracy of their purchased data.
Approximately 68 percent are only “somewhat confident” in the data accuracy of the analytics they receive from outside sources.