73% of Indian organisations relied on a blend of first-party (1P) and third-party (3P) data for marketing activities, according to the second edition of the MMA Leveraging Consumer Data for Marketing 2022 report released by MMA India in partnership with EY. The report claimed that most marketers believe that data breadth, depth, and quality gaps need addressing to enable optimal use of data for decision-making.
Building and maintaining direct relationships through responsibly gathered first-party data is the way to business growth in a privacy-first future, Bhaskar Ramesh, director omnichannel, Google India and Board Member, MMA India, said. “Privacy and performance need to co-exist and we have an opportunity to create new foundations that ensure the long-term viability of an open, ad-supported ecosystem,” he added.
Additionally, the report stated that 91% of marketers in 2022 compared to 82% in 2021, leveraged consumer data for marketing activities. Moreover, 78% of marketers in 2022 in comparison to 68% in 2021 saw a lift in marketing efficiencies due to leveraging consumer data. The report found that one out of three marketers use consumer data for product development, cross-sell, and competitor analysis.
38% of Indian marketers saw performance and growth, and 36% saw brand building as the key focus areas for organisations. It claimed that organisations are moving toward enriching its first-party data through communities, advocacy, and contextual targeting. Furthermore, 60% of marketers had little to no integration of their 1P and 3P data with limited employee access in 2021 compared to 55% in 2022, the report added.
Under the banner of capabilities and skills, the report found that 79% of respondents had established or outsourced best-in-class martech capabilities and 100% of retail and e-commerce, telecom and automobile companies said they had either industry-leading or developed martech capabilities.
Although, the report observed, Indian marketers outlined ownership and management strategies for 1P consumer data, there was little or no integration of 1P and 3P data, limited staff access to data, and no cross-fishing regulations. Interestingly, with limited employee access, 55% of Indian marketers have little to no integration of their 1P and 3P data.
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