“The Data-Confident Marketer,” a study by Advertiser Perceptions and MightyHive, examines marketers’ views on first-party data: how they’re using it, where it lives in their organization, and how soon they expect first-party data to start producing results.
Fewer than one in twenty marketers surveyed believe they have tapped more than 80% of the potential of their first-party data. Advertiser Perceptions finds this confidence gap to be most significant.
“When you consider that 67% of respondents expect to realize their first-party data goals in an impressive 18 months or less, it seems a wave of data-confident marketers may be about to crest, significantly impacting the competitive landscape,” said Stuart Schneiderman, VP, Advertiser Perceptions. “It would be wise for all companies that depend on data to drive their business to assess their data use readiness. Otherwise, the minority that feels very confident now could lengthen their lead.”
Marketers expect to increase their investment in first-party data over the next 12 months, with 64 percent of marketers expecting to increase their use of first-party data in mobile apps analytics, followed by social media platform data (55 percent), online sales data (52 percent) and site analytics (50 percent).
Source: Nordeen, C. (2019, March 26). New Report: Advertiser Perceptions’ Latest Study Reveals 200+ Brand Marketers’ First-Party Data Use Goals and Significant Data-Confidence Divide. Globenewswire.