Research has shown that marketers are blind to most of the data that provides them with critical information to improve marketing ROI. The survey, carried out by marketing firm IA Datasine, found that four in five marketers wasted about a third of their data.
On average, less than half of all important marketing data is actually used. This despite the fact that marketers universally recognize that more efficient use of customer data would increase the ROI of future campaigns by at least 19%.
Datasine commissioned Sapio Research to survey 250 marketers in the UK to better understand how much data is used in marketing and what role artificial intelligence (AI) plays in improving marketing performance .
Datasine believes that using data to gain insight is essential in helping marketers improve the performance of their campaigns and that they should look to use AI to help them generate actionable insights faster and better. precisely.
Chris Loy, CTO and Co-Founder of Datasine said: “We believe that the proliferation of platforms – where each platform or channel produces its own set of siled data – is often to blame for information missed by specialists. marketing. While many collect data and are aware of its value, data is often siled, depending on the platform on which it was extracted.
Marketers should seek to combine and evaluate data holistically to get a better view of metrics and insights, AI can help them achieve this at the pace needed in a digital marketing environment ”
While the majority of marketers use less than three-quarters of their data, many said they are confident in their ability to use it. 84% said they used data successfully to develop strategies and make decisions; 80% that they are able to analyze their data effectively and 78% feel confident in the quality of their data.
Marketers also say they are confident in their ability to improve context analysis in different aspects of their campaigns, with more than three-quarters reporting being able to easily edit and improve text, placement, image. , the choice of colors, layout and video.
Loy continued, “With such a display of confidence, it begs the question why so many marketers aren’t able to apply all the gold mine of data they’re sitting on. AI can be the driving force for harnessing data and successfully applying data to future campaigns, but often marketers take analytics offline to make critical decisions, rather than using learnings as a part. intuitive process driven by AI.
According to the research, the majority of respondents reflect Loy’s point of view, as 90% see AI as useful in terms of improving campaign performance, while 48% say it is crucial in this regard. However, many seem hesitant to act on this, with just 31% planning to implement AI in the next 12 months.
While it’s clear the industry wants marketers to fully access the value of their data, it seems there is still work to be done to maximize the potential that data can bring.