For the fifteenth time, The House of Marketing launched its Yearly Marketing Survey (YMS). This year’s edition covers data, which has become the new digital. Today, a data-driven marketing strategy is key for a single view of your customers and personalized customer experiences, which in turn drive business growth. Thus, mere access to data no longer suffices: only those able to translate data into insights contributing to correct strategic decisions, are in front of the race. The YMS reveals the results of data research amongst Belgian marketers.
How does your business compare to other Belgian organizations? According to the YMS, 31% of companies consider themselves data-driven, meaning they collect the right data and rely on it when establishing company decisions.
30% of respondents declare their data is organized in silos – isolated data-isles managed by a sole department – which complicates data-driven initiatives. On average, only 17% of data is used for hyper-personalization or real-time actions, while 15% for predictive analysis.
Where does marketing attribution, the bridge between sales and marketing data, fit into this story? According to The House of Marketing, marketing attribution is the process of assigning a value to each marketing touchpoint along the customer journey, based on its ability to generate revenue.
“Only 5% of marketers indicate that marketing attribution can help them prove their impact to the board. Yet we believe that’s one of the main drivers for the investment in marketing attribution, together with a correct budget allocation to the various touchpoints.”
Karolien Vanhelden – Head of Marketing at The House of Marketing
How can you measure the data-maturity level of your company? The House of Marketing designed a framework, including 5 dimensions: data usage, storage, analysis, data governance and KPIs and metrics. For each of those dimensions, they identified 4 maturity levels: crawl, stand, walk and run. Depending on your position on the data-maturity ladder, the YMS guides you to climb a step higher.