Data-driven Marketing Research 2023:
how Customer Data Platforms (CDPs)
offer new marketing opportunities

We analyzed how organizations handle data and discussed how platform technology solves bottlenecks.

The DDMA recently released its annual Data-Driven Marketing Survey, which highlights significant trends and challenges in the marketing data landscape. We analyze the data management practices of organizations and discuss how platform technology is addressing the issues raised by the survey's findings.

Insufficient knowledge about the return on investment (ROI) of marketing efforts.
It's surprising to know that a considerable number of organizations lack visibility into the results of their marketing activities. As per reports, one in every five companies faces accessibility issues with marketing data, while 80% use marketing technology and platforms.

According to DDMA, most organizations still collect data in different systems and
synchronize it regularly (35%). However, 26% of companies report that data is
collected centrally and is always up-to-date.

A Customer Data Platform (CDP) is the backbone of an organization's marketing strategy as it brings together data sources, making all the information readily available for marketing actions. A CDP acts as a central hub within an organization. It's surprising that marketers still experience a lack of data and insight despite using, for example, a CRM system. A CDP serves as the link between marketing professionals, customer data in their organization, and the data required for strong campaigns.

The level of collaboration between different departments needs improvement
To make better use of data, it is becoming increasingly important for departments to collaborate. Only 17% of people considered this to be a challenge last year, but that number has now risen to 27%. Analytics professionals are particularly aware of this issue, likely due to their understanding of the value of data.

DDMA states that to achieve more personalized marketing tactics and optimal
use of marketing technology, departments must work together more effectively.

To unlock the full potential of data, it is essential to have a CDP (Customer Data Platform) in place. This system makes it easier for departments to share and access data, thereby improving collaboration between business and data analytics. Centralizing data creates a common foundation on which departments can build together.

Maximize the use of MarTech to optimize marketing efforts
Only 25% of marketing activities, such as audience targeting and media campaign development, are optimized based on data and insights. This indicates that organizations may not be fully utilizing the potential of their marketing technology. This could be due to a lack of knowledge and familiarity with the technology's capabilities.

DDMA found that 25% of respondents listed a lack of knowledge within their
organization as one of the top three biggest marketing challenges.

One solution to address this gap is to implement a CDP, a marketing technology that provides a centralized platform for managing all customer data. This makes it easier for marketing professionals to create customer segments and develop personalized omnichannel media campaigns in an integrated environment. Using proprietary data ensures that marketing campaigns are more successful and compliant with laws and regulations.

Connecting technology, data, and collaboration
The research conducted by DDMA emphasizes the importance of a well-integrated approach in utilizing data effectively. It is evident that the successful utilization of data requires not just marketing and data platform technology, but also seamless collaboration between different departments and the ability to take full advantage of all the possibilities offered by technology.

A CDP provides all the necessary features to different departments, giving them the tools and insights they require. This not only enhances internal cooperation and efficiency but also helps marketing professionals to take marketing actions based on the available data. At the same time, analytics professionals can access insights needed to measure and improve business. Thus, the CDP is a valuable solution in the effort to leverage marketing technology fully and optimize collaboration.