Via Forbes : Studies show that by right around now, the end of January, most people have given up on their New Year’s resolutions, and I suppose that’s no surprise. We all know that accomplishing a goal is much more difficult than simply proclaiming you’re going to do it.
So on that basis, I’d like to offer a little advice. Stop feeling guilty and bogged-down. Simply brush all your other half-baked resolutions aside, and devote your attention to the one thing you absolutely need to do in the coming year. That’s right. It’s time to focus on the most important resolution you must make – and keep – in 2015: You must become data-driven.
As Thomas Davenport pointed out in the Foreword to my book Big Data Marketing: Every day, marketing assets become increasingly digitized. Every day, more information about customers’ preferences and behaviors becomes available. Every day, the opportunity cost of not pursuing data-driven marketing piles up.
I wrote Big Data Marketing in 2013, hoping to open up the conversation about big data and data driven marketing. Today, two years later, I’m happy to report there’s evidence that more and more marketing organizations are climbing on board. According to our newly released Teradata 2015 Global Data-Driven Marketing Survey, marketers are increasingly eager to move beyond segmentation to true one-to-one personalization in a real-time context. Here are a few key findings from the study:
- The number of companies where data-driven marketing is either embedded or strategic has more than doubled since we first started studying trends surrounding data-driven marketing adoption about 18 months ago. 78 percent of marketers now use data systematically, versus 36 percent in 2013.
- 90 percent of marketers said that making their marketing individualized is a priority.
- The majority (59 percent) of those polled said faster decisions are a key benefit of using data. Even more (67 percent) feel decisions involving data are more accurate.
Even so, there’s still room for improvement:
- Only 50 percent of marketers routinely apply data to individualize their messages and offers.
- 80 percent said that silos within marketing itself still prevent an omni-channel view of campaigns.
- 44 percent reported that achieving consistency in omni-channel marketing remains a challenge.
Concerns like these are why digital marketing platforms, like the Teradata Integrated Marketing Cloud, are in high demand. Remember: Data-driven marketing is the sole means to the end of gaining clear individualized insights, and you build stronger customer experiences and improve sales by consolidating every element of your data-driven marketing program — including processes, resources, campaign financials, performance analytics and even digital messaging templates — in a single application, on-premise or in the cloud.
Isn’t it time you resolved to become data-driven?
Take the first step. Download our 28-page survey and accompanyin ginfographic, available at no cost from the Teradata website. Both are full of valuable information I’m sure will benefit marketers and C-suite decision makers alike.