Data-Driven Marketing Delivers Enterprise-Wide Value, Global Teradata Survey
Marketers integrating online and offline data stand to deliver a better
customer experience, resulting in more revenue
INDIANAPOLIS, Aug. 5, 2013 /CNW/ - Teradata Corporation (NYSE: TDC), the
global leader in analytic data platforms, applications and services, today
released its Teradata Data-Driven Marketing Survey 2013, a global survey into
how companies worldwide are using data to drive marketing and create
sustainable competitive advantage. The extensive 45-page report, available now
for free download, reveals widespread belief among the world's marketers that
integrating and analyzing all available enterprise data, and applying the
real-time insights such analysis delivers, will ultimately drive a better
customer experience, stronger brand differentiation and faster growth.
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The survey was conducted by Teradata Applications, a division of Teradata
focused on business, marketing and analytical applications and services. More
than 2,200 marketers around the world responded to the survey.
What is Data-Driven Marketing?
Teradata views data-driven marketing as the combination of collecting and
connecting large amounts of data, rapidly analyzing it and gaining insights,
and then bringing those insights to market via marketing interactions tailored
to what's relevant for each customer. Here are just some of Teradata's
Data-Driven Marketing Survey findings:
-- Nearly 50 percent of marketers agree that data is the most
underutilized asset in their organization, with less than 10
percent saying they currently use what data they have in a
-- 71 percent of marketers say they plan to implement a Big Data
Analytics solution in the next two years.
-- Just 18 percent of marketers say they have a single, integrated
view of customer actions, yet it is one of marketers' top
priorities for future improvement.
-- 75 percent of marketers who try to calculate their Return on
Marketing Investment (ROMI) encounter problems, mostly in the
lack of system integration.
-- 42 percent of marketing executives agree that integrating the
cross-channel customer experience is a top priority.
-- Nearly 65 percent of marketers agree that silos within their
marketing department prevent them from having a holistic view
of a campaign across channels.
Findings Snapshot: Going Data-Driven Creates High-Impact Marketing Results
Teradata's survey reveals that most companies today are trending toward
leveraging their data to drive marketing on a more systematic basis in order
to measurably increase profits. Yet as organizations make the transition, they
are encountering challenges that have little to do with actual technology
adoption, and a lot to do with both the shortage of data analytics skills and
the continued use of unrefined marketing processes. In response, many
companies are, starting with Marketing, addressing enterprise-wide process
implications, and making operational adjustments required by tighter Marketing
and IT integration. And it is through addressing people, organizational and
process issues that the greatest value of data-driven marketing is being
achieved. Big Data analytics skills and digital marketing savvy are
increasingly valuable to companies today because together they help drive more
revenue, better margins, more efficiency, and ultimately more profits. The
belief that these higher-order outcomes can in fact be achieved is what's
fueling increased adoption of data-driven marketing solutions by the global
business mainstream. Companies are not developing a data-driven marketing
strategy so they can use technology to analyze more kinds of data; they are
moving to it because it can help them make more money.
"Marketers are most effective in generating revenue when they are able to put
all their data to work to deliver the most relevant offers to consumers," said
Darryl McDonald, president of Teradata Applications. "Teradata's Data-Driven
Marketing solutions help them stop making 'gut-feel' decisions and instead
factor in insights from all types of data to gain a deeper understanding of
customer preferences. Acting on more informed insights yields better customer
engagement, but it all starts with vision, a strategic process, and having the
right talent in place."
Teradata Data-Driven Marketing Survey 2013, Global delivers a wealth of
informative insights for CMOs, CIOs, indeed all C-suite decision makers, as
well as senior and mid-level marketers across all marketing disciplines. A
snapshot of key findings appears below and in the accompanying Infographic or
go to the survey web page for more information.
Top Line Findings
-- Why Adopt a Data-Driven Marketing Strategy? Senior-level
Marketing executives in enterprises over $100 million have
largely the same priorities as the marketers working under
them. The top three reasons companies are adopting data-driven
marketing strategies are to:
1. Improve Efficiency
2. Prove effectiveness with outcomes and metrics, and
3. Achieve better cross-channel integration.
-- Marketers Feel Pressure: 78% of all marketers report feeling
pressure to become more data-driven. The marketers who say they
are feeling significant pressure are more likely to be in
Campaign Management (39 percent) and Data Sciences (40 percent)
-- Strategic Use Will Increase: About half (48 percent) of all
marketers are still just using data on an ad hoc basis, while
about a third (33 percent) have embedded it systematically or
even strategically into their standard processes. In the next
12 months, 56% of marketers expect to be using data to
systematically drive their marketing.
-- Personalizing the Customer Experience: A little more than a
third of companies (36 percent) say they routinely use
data-driven marketing to customize messages and offers, in
order to improve customer experience and campaign performance.
Just 18% of marketers routinely have a single view of the
customer but recognizing its importance, marketers say it is a
top priority for future improvement.
-- Process is Foundational: Forty-two percent of companies say
"lack of processes to bring insights into decision making" is
their main barrier to using data in decision making. As a
result, within two years over 80 percent of marketers will have
implemented or begun projects that automate data quality,
performance management, and marketing workflow processes.
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©Teradata Data-Driven Marketing Survey 2013, Global
Complete details on these and other findings from Teradata's Data-Driven
Marketing Survey 2013, Global can be obtained through the full report, which
is accessible on Teradata.com.
Teradata Data-Driven Marketing Survey 2013, Europe: On July 9, 2013, Teradata
eCircle released a related study focusing on trends in data-driven marketing
in 19 European countries. The Teradata eCircle Data-Driven Marketing Survey
2013, Europe is a companion piece to Teradata's global study, and full details
of that report are likewise available for free download.
"Big Data Marketing," by Teradata Applications CMO Lisa Arthur: A forthcoming
book for marketers, authored by Teradata Applications CMO Lisa Arthur, will be
available worldwide on October 14. Published by Wiley Publishing, "Big Data
Marketing: Engage Your Customers More Effectively and Drive Value," can be
pre-ordered now from both Barnes & Noble and on Amazon.com.
The Teradata-Data Driven Marketing Survey 2013 was conducted through a blind
survey between March 8 and May 4, 2013. It total, more than 2,200 marketers
worldwide from individual contributors up to top executives were surveyed.
Respondents were asked 58 questions via an online survey. The margin of error
for the overall sample varies according the base size for each question and
ranges from +/- 3 percentage points to +/- 3.5 percentage points. The data are
Teradata Corporation (NYSE: TDC) is a global leader in analytic data
platforms, applications and services that empower organizations to make the
best decision possible for competitive advantage. Teradata's market-leading
Integrated Marketing Management (IMM) solutions advance the productivity and
performance of marketing organizations through a data-driven approach that
simplifies the complexity of today's rapidly changing marketing environment.
To learn more about Teradata Applications, visit teradata.com.
Get to know Teradata: http://twitter.com/teradatanews
Teradata is a trademark or registered trademark of Teradata Corporation in the
United States and other countries.
SOURCE Teradata Corporation
John Sawyer, Teradata Applications,John.email@example.com, 303-601-2949
PRN Photo Desk,firstname.lastname@example.org
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