Only 9% of marketers say customer data is highly accessible: Report

Three in four APAC marketers lack confidence in their data, analytics, insights

The report is based on a survey of over 300 marketing leaders globally.
The report is based on a survey of over 300 marketing leaders globally.

One in four marketers are very confident in their data systems to win and retain customers,  according to a new report by the Chief Marketing Officer (CMO) Council and GfK. The report further revealed that while 85% of marketers say direct access to customer data is critical to gain competitive advantage, only nine percent of marketers say customer data is highly accessible. 

“CMOs around the world have entered a new era of high-velocity data marketing. Many need to get better at extracting relevant data signals across channels, generating actionable insights, making insights available in real time, and going deeper and more granular with customer insights,” Donovan Neale-May, executive director, CMO Council, said. 

To spot sudden, disruptive changes in customer and market behaviour, modern marketers need high-velocity data marketing, according to the new report. These data systems need to be agile and adaptable with the ability to acquire real-time, relevant data signals and close the gap between data, insights and action. The report is based on a survey of over 300 marketing leaders globally.

The report further revealed the top barriers to data access, which are insufficient technology, lack of data process, and data control lies elsewhere. Once they have the data, gathering actionable insights is slow and only 18% of marketers say they can move quickly from data gathering to actionable insights. Budget to improve MarTech, systems that connect data silos, and talent to move from data collection to action are some of the challenges that are holding marketers back. 

“The CMOs need to take on the mantle of a purpose-driven evangelist — using data to help meet the desires of consumers who insist that their brands need to be as human as they are. By bringing the art of intuition and creativity to the science of data — at the speed of today’s decision-making — CMOs can and should become catalysts for healthier, more compassionate brands that deliver sustainable growth,” Gonzalo Garcia Villanueva, CMO, GfK, stated. 

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