Given the current market scenario, marketing leaders across industries are actively trying to use data and advanced analytics.
B2B marketers need to run campaigns while optimizing the marketing activities with the help of big data and modern-age, easy-to-use solutions. When it comes to resonating with the audience, business leaders continue fine-tuning their plans amid the increased use of technologies.
Often brands find that a single source of data puts them in various challenges in this fast-paced digital era. At present, there is not a single data source that marketing decision-makers can entirely rely on for all of the information they need. This occurrence is influencing them to stride in this vital aspect.
Even though brands have made it a point to start using data and analytics, they have not polished up this viewpoint of their technology strategies yet. Airtable has published its “Marketing Trends Report,” revealing that marketing leaders believe data (in-between 20% and 49%) is duplicated in various places.
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This involves locations around spreadsheets, applications, and docs. In fact, there is not a single data source that businesses can rely on at this moment – for all of the information they need. As a result, professionals are found to be trying out new possibilities to make strides in this domain in this evolving marketplace.
In respect to what is hindering the success of marketing teams over industries, approximately 46% said that “lack of timely data to make strategic decisions”. This was followed by “gaps in expertise or skills” (noted 41%) and “inefficient workflows” (about 38%).
Overall, the statistics show that companies will still have work to do before switching to internal data for their overall business insights they should have – particularly for customer purposes. Indeed, given the current market scenario, marketing agencies are actively trying to use data and advanced analytics.
And reportedly, this trend has helped several companies survive the business slowdown. Furthermore, in collaboration with Google, Forrester conducted the “The Future of Analytics” study that revealed that many businesses (about 17%) intend to augment their analytics and technology usage as their top priority.
Basically, this trend will stretch over the next few years. This is followed by increasing the customer lifetime value (11%) while improving the overall marketing alignment with different teams (11%), as well as acquiring more consumers (14%). At the same time, the data hold true value for cross-platform users too.
Across the board, organizations are seeking to leverage data in order to build better experiences. This is expected to enhance customer satisfaction alongside the retention rate. Certainly, the top benefits that marketers realize from digital analytics technologies are enhanced customer experience and marketing campaign outcomes.
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Brands are increasingly using digital analytics to optimize and understand customer experiences. A vast majority of marketers (nearly 43%) believe that their present digital analytics technology has supported improving the customer experience. Although analytics is a topmost priority, privacy features prevail above all other capabilities.
As explained in the report, “Brands are looking for a better understanding of the customer journey with modern marketing analytics tools that are cross-platform, user-first, less manual, and highly flexible…Improved customer experience is the top benefit firms have realized from their digital analytics technologies.”
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