SAN FRANCISCO, CA--(Marketwired - April 07, 2016) - Seventy-four percent of marketers are taking a "best of breed" approach to address their data-driven marketing technology needs as they draw on components from multiple solutions and technologies, according to a paper by Forrester Consulting released by Krux, the market-leading provider of cloud-based data infrastructure. By contrast, 23% marketers have chosen to work exclusively with one technology vendor, relying on so-called "full-stack" providers. A new research paper from Forrester Consulting, commissioned by Krux, "Put Data Management At The Core of 1:1 Marketing," analyzes these and other findings related to data-focused marketing.
"As the world continues to digitize, consumer demand for seamless and relevant brand experiences will accelerate," said Jon Suarez-Davis, Chief Marketing and Strategy Officer at Krux. "Call it 1:1, data-driven, or precision marketing, in order to meet consumer expectations and drive growth, companies will need to transform their organizations with new playbooks and intelligent systems that deliver relevant and exceptional brand experiences throughout the consumer journey."
According to the Forrester Consulting study, 73% of marketers are currently running or testing 1:1 marketing programs, reinforcing the critical need for data management infrastructure to deliver consumers with more personalized content and brand experiences. The research also uncovered that among the companies Forrester determined to be the most proficient at 1:1 marketing, which the study labels "high-maturity marketers," nearly 60% have adopted a data management platform (DMP), an adoption rate 32% higher than their low-maturity counterparts.
Other key findings of the recent Forrester Consulting Study include:
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Setting the right goals and KPIs drive success. Marketers that are most advanced in their move to 1:1 marketing were most likely to rank key customer success indicators such as improving customer retention and boosting customer loyalty among their top three priorities for their media buying programs.
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Higher maturity marketers prize experimentation and learning. 81% percent of high-maturity companies are empowered to experiment and learn from their 1:1 marketing programs. More importantly, 55% of high-maturity marketers report that even if a campaign falls short of objectives, if it led to insights to improve future efforts, it was still viewed as a 'success' within the organization.
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Successful marketers invest in tech solutions and human capital. 65% of companies overall, and 76% of high-maturity companies -- have grown their teams and capabilities in the past two years. This suggests that, while data and 1:1 marketing involves automation, the human element remains crucial.