Friday, March 27, 2015

Too much data out there?

Marketers are facing major obstacles in realizing the dream of delivering improved customer experiences. One research, based on a survey of more than 600 companies and agencies carried out between November and December last year, showed that nearly two-thirds (62%) of respondents said that they often feel overwhelmed by the volume of incoming data whilst 85% said that they were unable to extract the full value from the data sources they have access to. The research showed that only 3% of businesses felt that they had a strong capability when it comes to using cross-channel or cross-device data for real time website or mobile app personalization. The challenges are caused by both data and technology silos as well as a lack of talent in such areas, the report states.

“Focusing on developing customer experiences can create a more loyal and engaged customer base which is an extremely valuable competitive advantage in today’s fast-paced commercial environment,” said Bola Awoniyi, a research analyst in Econsultancy.

Boaz Ronkin, SVP of product for Ensighten, said marketers must concentrated on integrating their marketing tech rather than adding further silo systems. “To maximise the return on investment in their marketing technology stacks, CMOs must look for integrated solutions that excel at joining disparate systems, rather than add new standalone systems into the mix," he said.

Most importantly, in my opinion marketers need to focus on the business goals of their clients and make sure that the marketing strategy allows to track those metrics that have the most effect on those business goals.

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