More than 80 percent of a worldwide research panel (including over 3,000 advertisers, marketers, service providers and technology developers across 17 countries, including New Zealand) said that data plays an important role in supporting their respective efforts. And 92 percent said they expect data to contribute even more substantially to their advertising and marketing efforts over the coming years.
The Global Review of Data-Driven Marketing and Advertising was conducted by GlobalDMA, an alliance of 27 independent marketing associations around the world, and Winterberry Group, a US research and strategic consulting firm that specialises in the advertising, marketing, media and information disciplines, and it expects to release a report annually.
“It was a great achievement to have so many professionals around the world participate in such a comprehensive study,” said Michael Pryor, chief executive of the NZ Marketing Association. “We’ve done this to help marketers and advertisers benchmark their campaigns, allocate budgets in line with global best practices and develop strategies for using data in meaningful, responsible and consumer-friendly ways.”
Among the report’s findings, it concluded that:
- It’s a bull market: 77 percent of global panelists said they’re confident in the practice of data-driven marketing and advertising and its prospects for future growth. While that response was fairly consistent around the world, panelists in emerging markets—including India, Brazil and South Africa—indexed their level of optimism at higher levels than their counterparts elsewhere.
- Budgets are on the rise: Globally, 63 percent of panelists reported that their spending on data-driven marketing and advertising grew over the last year—with another ten percent (74 percent of the panel) expecting budgets will rise yet again over the next year.
- Data is digital. And digital is data: The five promotional channels that captured the most new or expanded budget over the last year—including website/e-commerce content, social media, mobile, paid search engine marketing and online display advertising—are all native to the digital world.
- It’s all about customers: 53 percent said “a demand to deliver more relevant communications/be more ‘customer-centric’” is among the most important factors driving their data-related investments, outpacing all other relevant factors.
“While we hear often about the contrasts that distinguish markets around the world, our research revealed one universal constant: data matters—and it matters a lot,” says Jonathan Margulies, managing director, Winterberry Group. “Across all of the 17 nations that were part of our analysis, we found that practitioners rely heavily on information to support a range of business objectives, ultimately supporting both marketing and consumer interests.”