Fewer than a third of brands ‘advanced’ in use of data, says report | M&M Global

Fewer than a third of brands ‘advanced’ in use of data, says report

Global brands are planning to invest heavy in data marketing infrastructure over the coming year, according to new research.

WFA logo

The World Federation of Advertisers (WFA) surveyed 32 companies with a combined annual marketing budget of $35bn to find out their attitudes towards data-driven marketing.

It found that, while nearly three-quarters (72%) of senior marketers view data as a “strategic asset”, only around half are actually setting in motion processes to make data central to marketing decisions.

Less than a third (31%) of respondents described themselves as “advanced” or “highly advanced” in their adoption of data-driven marketing, using multiple data personalisation and segmentation techniques.

However, some 89% of those surveyed intend to invest in data analytics and insights, with 31% claiming they will be “greatly” boosted budgets in this area.

Matt Green, senior global marketing manager at WFA, commented: “It’s no secret that data has become important for marketing purposes, though it’s interesting to note that even some of the world’s biggest companies are only at the early stages of delivering data driven marketing strategies.

“Data consumption is set to increase rapidly and with that sophistication – clarifying how data will be used and how consumer privacy will be protected, should be a fundamental component of a brand’s strategy as it advances into DDM.

“Enhanced transparency and a strong value proposition will be vital to ensuring consumer trust in how the industry collects, stores and uses data today, and in the future.”


No Comments Yet

Leave a Reply