Today the Winterberry Group—in partnership with the IAB—released data from their latest industry survey on the challenges faced by data-driven marketers, publishers and advertisers.
The IAB white paper explores how marketers currently utilize audience data as a competitive advantage—it uncovers where they are succeeding, and where they are still struggling.
Our top 3 take-aways are…
- Data provides marketers with invaluable audience insights: Many marketers feel that audience data represents a definitive competitive advantage; it powers their segmentation efforts and drives actionable consumer insights.
- Marketers are struggling to tie audiences to revenue: Although data is helping brands better understand their customers, marketers and data practitioners are still struggling to successfully apply audience data in support of revenue growth and profitability.
- The challenge of attribution remains: Efforts to measure the true value of data have been a challenge, particularly when it comes to measuring the contribution of audience data to primary business and revenue outcomes.
In spite of these challenges, about 90% of the surveyed professionals say that audience data has driven at least “some” value in their organization.
“Using data to drive revenue can be challenging, but we’ve come a long way over the last couple years. It’s great to see how marketers are now using their first party data more effectively to engage customers,” said Craig Teich, EVP Global Sales at Connexity. “The next phase is for these marketers to work with partners to enrich and expand their data sets…in particular with ‘observed’ retail data that predicts buying intent.”