Report: Not enough CMOs are using data to inform marketing decision-making

New Capgemini report into marketing leadership and data-driven capabilities shows fewer than half using data to inform go-to-market strategies, campaigns and ways of working

Less than one in two marketers globally surveyed in a new Capgemini report say their teams are using data to decide a go-to-market strategy for a new product or services.

The new Capgemini report, A new playbook for chief marketing officers, is based on a survey of 1600 B2C marketers globally plus 25 in-depth interviews and was conducted in March and April this year.

According to the report, 43 per cent of marketing teams are using data to decide a go-to-market strategy for a new product and service, while 40 per cent are using data to modify their campaign strategy. The same percentage agreed they are harnessing data to build brands with strong equity, and 35 per cent have used data to introduce new business models.

The survey also looked at the varying responsibilities of the CMO, finding three quarters are now responsible for contributing to business growth as well as the use of data and technology. Yet despite the CMO’s new data-focused responsibilities, only 12 per cent of marketers have the requisite data access, capabilities and talent to drive and extract high value from real-time marketing, Capgemini reported.

Just shy of seven in 10 CMOs also either own or share responsibility for customer experience, and 90 per cent have sole or shared responsibility for business strategy.

The benefits of being data-driven marketers were also analysed as part of the report. Of those who process, analyse and leverage data to fine-tune campaigns and content and marketing outputs, 88 per cent reported having the ability to adapt and change content based on real-time data, compared to 38 per cent of traditional marketers. The bulk (93 per cent) were also highly satisfied with their real-time marketing initiatives, compared to 46 per cent of traditional marketers. In addition, 54 per cent said the benefits of real-time marketing exceeded their expectations.

Capgemini said respondents who qualified as data-driven were assessed against three dimensions: Data culture and importance, data availability and gathering, and cross-functional collaboration. They were also assessed on two technology dimensions: Platforms and tools, and marketing and IT collaboration.

The Capgemini report also found 45 per cent of respondents have a customer data platform (CDP) in play, while 47 per cent have a framework for data collection that defines what data will be collected, what its purpose is and how it will be utilised. Also on the technology front, 44 per cent agreed they had an adequate supply of skills in areas such as AI and machine learning, or data analytics and data science.

Nearly two thirds of respondents are partnering with data providers, while slightly under half (46 per cent) work with marketing-technology firms for areas such as CRM and digital marketing.

When asked about data utilisation, 38 per cent said they had data available to inform customer segments and personas, 42 per cent had access to data from conversations online, 37 per cent had data-driven metrics related to campaign performance, and 36 per cent had external data access.

Capgemini identified six critical focus areas to prepare for a data-driven marketing environment. The first is creating a clear vision for the marketing strategy, while the second is implementing a framework-driven data collection process. Skills development is another must, as is collaboration across the marketing ecosystem. An emphasis on real-time customer engagement and integration of long-term brand building and short-term marketing activity was also recommended.

Data-driven marketing is the approach of driving marketing strategies, campaign initiatives, and content based upon analysis and insights derived from customer data, including customer interactions and engagements. Data-driven marketers process, analyse, and leverage data to fine tune campaigns and content and marketing outputs. By taking a data-driven approach, they also gain deeper understanding of consumers and trends and target consumers with personalised and relevant offers and services.

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