Data Deficiencies Hinder Real-Time Marcom Decisions

Marketers Don’t Have Sufficient Data: According to the Columbia Business School and the New York American Marketing Association’s “Marketing Measurement in Transition Study,” marketers’ desire to be data-driven is not yet matched by a consistent effort to collect the data necessary to make real-time decisions. In fact, 29% report that their marketing departments have “too little or no customer/consumer data.” The study findings mirror data shortcomings with PR.

Study highlights include:

• 39% of marketers say that their data is collected “too infrequently or not real-time enough.”

• Marketers today are still much less likely to collect new forms of digital data like customer mobile device data (19% collect it) and social media data (35%), than they are to collect traditional customer survey data on demographics (74%) and usage (60%).

• Just 14% of the social networking users are tying them to financial metrics. 

Source: Columbia Business School/NY American Marketing Association