Just 6% of marketers are making use of advanced capabilities including personalizing campaigns with collaborative filtering and predictive models. Marketers with advanced data access including the option to personalize data are up to 2.8X more likely to succeed with collaborative filtering and predictive models.
These findings and more are from a study recently completed by Blueshift in collaboration with TechValidate titled Activating Customer Data for Powered Marketing. In February 2018 TechValidate and Blueshift conducted an online study involving 200 marketers from 198 companies in nine industries who are involved in business-to-consumer (B2C) marketing. A series of e-mail campaigns targeting respondents included a cash incentive to increase response rates. Additional details of the methodology and respondent demographics can be found on page 15 of the study.
Key takeaways from the study include the following:
43% of marketers are using () including machine for expanding their audiences today. Also just over a third (39%) are using & for audience targeting. 28% are using these technologies for product recommendations. Just 26% are using & for campaign optimization. One of the fascinating areas of innovation occurring in marketing technology (martech) today is the real-time optimizing of campaigns to attract new prospects, cross-sell and up-sell new prospects, and increase lifetime customer value. 64% of all marketers are planning to increase their use of in marketing campaigns over the next 12 months.
Just 6% of marketers are making use of advanced capabilities including personalizing campaigns with collaborative filtering and predictive models. There’s significant upside potential for marketers to get more value out of the advanced & capabilities their apps and platforms provide. 16% of marketers are segmenting customers using predictive affinities analysis based on and . Enterprises’ adoption of advanced capabilities is being constrained by the continual marketing technologist talent shortage, need for more real-time integration and access to data, and more effective approaches to standardizing and streamlining Data analysis is simply put the study of data in order to take better informed decisions. All business decisions should be made with the best information available, data analysis tries to provide this information through different algorithms and statistical techniques. in their firms.
Marketers with advanced data access including the option to personalize data are up to 2.8X more likely to succeed with collaborative filtering and predictive models. Marketers with advanced data access are 2.4X more likely to use predictive affinities for segmentation. Advanced access is defined in the study as having full access including the ability to drive advanced personalization and alerts or triggers without IT or Data Scientist help.
Marketers who have direct access to customer data across their enterprises are 1.6X more productive than their more data-constrained counterparts. 35% of marketers are using 50% or more of the available data in their enterprises for campaigns. Access is often manual, IT-controlled and limited by the available time of system analysts and IT teams to get to their requests. Enabling marketers to have advanced access sets the foundation for more campaigns to be created and revenue results achieved. […]