Conversational marketing technology provider Neolane together with data governance experts DQM Group, announced the publication of a new ‘state of the nation’ survey report into the customer database marketing strategies of 144 UK organisations. The survey report is titled: “Where to Next – Current and Future Trends in Data and Marketing.” Survey reveals that for these organisations, their biggest drivers for data investment include gaining better customer insight, improving marketing performance and enhancing customer profile information through social media profile data.
“The DQM Group survey, in association with Neolane, provides invaluable help to any customer data or marketing professional needing to understand trends and attract budget for improved data-oriented marketing practices.”
According to the DQM Group report, sponsored by Neolane:
- 53 per cent of the survey plan to invest more into data during 2013, with nearly 30 per cent maintaining their existing level of funding. A minority (some 7 per cent) intend to make cuts.
- Prime among the drivers for investment are the linked goals of gaining better customer insight (61 per cent) and improving marketing performance (61 per cent). Close behind is the strategic goal of becoming more customer-centric (59 per cent) and the need to integrate data across channels (59 per cent).
- Although Big Data is being pursued strategically by just some 16 per cent, 33 per cent are now collecting social media profile information (e.g. profile, likes and interests) with some 23 per cent collecting social media transactions (such as wall posts, shares and comments). Nearly 8 per cent now also collect location-based information.
- While nearly 62 per cent claim to already have a single customer view, those that do not are planning to create it during 2013.
- Data and insight is being managed by a centralised, in-house team with its own funding in some 50 per cent of cases, ensuring the visibility and resource necessary to gaining access and benefit from data.
- Six out of ten companies already have a customer insight team, while half have channel insight teams. This likely helps them drive value, by turning data into actionable insight.
- Most see data governance as important – having processes in place which ensure the appropriate usage, control, quality and security of the data asset.
The survey respondents are from the subscriber base of DataIQ, DQM Group’s journal for data professionals, and might reasonably be considered to be from organisations advanced in certain data management disciplines. Thus the survey results suggest which initiatives are gaining traction with practice leaders.
“Leaders in marketing data management demonstrate certain specific practices that distinguish them from their rivals,” said Peter Galdies, development director at DQM Group. “ The DQM Group survey, in association with Neolane, provides invaluable help to any customer data or marketing professional needing to understand trends and attract budget for improved data-oriented marketing practices.”
As well as showing that marketers expect to invest more in data this year than last, and their business drivers for doing so, the survey offers insight into the extent to which best practices are being followed.
“Dealing with customer data volume, variety and velocity are some of the top challenges facing today’s database marketers as they attempt to extract insight and deliver value,” said Martin Smith, head of marketing at Neolane UK. “The survey indicates the progress that leading marketing organisations are making in building the necessary leadership, investment, people skills and marketing technology bases necessary for success. It also shows the degree to which they are binding this together with governance practices including for data quality and security.”
Sponsored by Neolane, the survey results are discussed in a supplement to the Spring issue of DataIQ. The full report is available at: www.neolane.com/uk/resources/surveys/big-data-survey