The Importance of Data Driven Marketing – Statistics and Trends

Ayat Shukairy

Ayat Shukairy

My name is Ayat Shukairy, and I’m a co-founder and CCO at Invesp. Here’s a little more about me: At the very beginning of my career, I worked on countless high-profile e-commerce projects, helping diverse organizations optimize website copy. I realized, that although the copy was great and was generating more foot traffic, many of the sites performed poorly because of usability and design issues.
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Did you know that Marketers that exceeded their revenue goals in were using personalization techniques 83% of the time whereas businesses that employ data-driven personalization delivered five to eight times the ROI on marketing spend. More than three-quarters (77%) of respondents believe that they’ve had a somewhat or significant increase in access to useful data over the past year  but only 49% of respondents reported being somewhat or very effective at using data-informed insights to guide future strategy. Check out our infographic to know more about the growing importance of data driven marketing and the objectives and challenges of data driven marketing.

The importance of data driven marketing – Statistics and Trends

Infographic by- Invesp Landing page Optimization Company

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The most Important objectives of Data Driven Marketing

Data Driven Marketing Objectives %age
Basing more decisions on data analysis 51%
Acquiring more new customers 45%
Integrating data across platforms 43%
Enriching data quality and completeness 37%
Segmenting target markets 34%
Attributing sales revenue to marketing 33%
Aligning marketing and sales teams 31%

 

Over 40% of brands plan to expand their data-driven marketing budgets whereas 88% of marketers surveyed use data obtained by third parties to enhance their understanding of each customer

Data Driven Marketing Strategies Companies Using to Improve Conversion Rates

Strategy %age
Customer journey analysis 63%
A/B testing 60%
Website personalization 46%
Segmentation 55%
Mutivariate testing 46%
Usability testing 55%
Cart abandonment analysis 47%
Copy optimization 44%
Abandonment email 32%
Online surveys/Customer feedback 34%
Expert usability reviews 28%
Competitor benchmarking 21%

 

64% of marketing executives “strongly agree” that data-driven marketing is crucial in the economy

49% of marketers feel “significant pressure” to increase data’s role in their current strategy whereas  87% of marketers consider data their organization’s most underutilized asset

54% of companies say their biggest challenge to data-driven marketing success is the lack of data quality and completeness

More than three-quarters (77%) of respondents believe that they’ve had a somewhat or significant increase in access to useful data over the past year  but only 49% of respondents reported being somewhat or very effective at using data-informed insights to guide future strategy

Biggest Challenges of Data Driven Marketing

Challenges %age
Insufficient technology 44.6%
Lack of internal experience 34.8%
Lack of first party data resources 32.6%
Difficulty in proving ROI of our data driven programs 26.1%
Poor data sharing protocols 25.0%
Lack of resources 21.7%
Lack of quality of third party data 17.4%
Competitive pressures 15.2%
Haven’t achieved success in testing 12.0%

 

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Ayat Shukairy

Ayat Shukairy

My name is Ayat Shukairy, and I’m a co-founder and CCO at Invesp. Here’s a little more about me: At the very beginning of my career, I worked on countless high-profile e-commerce projects, helping diverse organizations optimize website copy. I realized, that although the copy was great and was generating more foot traffic, many of the sites performed poorly because of usability and design issues.