Why is Data Marketers’ Most Valuable Asset?
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Why is Data Marketers’ Most Valuable Asset? Tim Bond, Head of Insight, DMA @tim_j_bond @DMA_UK
Interrelated Issues Data Relevance Trust
Challenges
Restricting Free Flow of Data Concerned Neutral Unconcerned 50,9% 24,6% 24,6% Source: DMA – ‘Data Privacy: An Industry Perspective 2019’
Challenges Limited budget 42% Limited internal resource 40% Lack of data 30% Lack of strategy 25% Inefficient internal processes 22% Outdated in-house technology 21% Lack of content 20% Lack of senior support 17% Data siloes 16% Poor interdepartmental communication 16% Data degradation 9% Choosing latest channels rather than effective channels 7% Outdated ESP technology 4% None of the above 2% 0% 20% 40% 60% Source: DMA – ‘Marketer Email Tracker 2019’
GDPR Improving Business Worse Same Improved 1% 55% 44% 0% 20% 40% 60% 80% 100% Source: DMA – ‘Data Privacy: An Industry Perspective 2019’
Ability to Meet Customer Needs 100% 24% 80% 43% 60% 37% Improved Same 40% Worse 55% 20% 39% 2% 0% Sep-2017 Apr-2018 Sep-2018 Aug-2019 Source: DMA – ‘Data Privacy: An Industry Perspective 2019’
Improving Trust & Data Worsened/Negative impact Improved/Positive impact Consumer trust in how their data is being handled [CELLRANGE] 49% Public trust in brands and marketing [CELLRANGE] 46% Marketing data/metrics [CELLRANGE] 42% Marketing programmes [CELLRANGE] 42% -20% 0% 20% 40% 60% Source: DMA – ‘Data Privacy: An Industry Perspective 2019’
“Sharing data is part of the modern society” 69% Agree Source: DMA – ‘Data Privacy: What the Consumer Really Thinks 2018’
“I am happy with the amount of personal information I give to organisations these days” 61% Agree Source: DMA – ‘Data Privacy: What the Consumer Really Thinks 2018’
“I would like more control over the personal information I give companies and the way it is stored” 86% Agree Source: DMA – ‘Data Privacy: What the Consumer Really Thinks 2018’
“I would like more transparency about how my data is collected and used” 88% Agree Source: DMA – ‘Data Privacy: What the Consumer Really Thinks 2018’
Trust
What makes consumers happy to share data with a company? 54% I trust the organisation I can get higher value goods for a lower price 32% I get free services and products in exchange 31% It is a brand or business I have bought from 25% It is a well-known brand 22% I get improved service 21% My friends/family recommended them 19% I get special offers tailored to me 17% It saves time (i.e. shopping lists/card details) 17% They have good online reviews for their products and… 15% It is part of a group of companies that I deal with 13% If I receive adverts that are of interest/relevance to me 6% 0% 20% 40% 60% Source: DMA – ‘Data Privacy: What the Consumer Really Thinks 2018’
“I trust businesses with my personal information” 28% 22% 2017 2019 Source: Information Commissioner’s Office (ICO) – ‘Information Rights Strategic Plan: Trust and Confidence ’ report 2019
“ I have a good understanding of how my personal data is used ” 16% 10% 73% 62% 2017 2019 Source: Information Commissioner’s Office (ICO) – ‘Information Rights Strategic Plan: Trust and Confidence ’ report 2019
Who Benefits from Data Businesses 78% Consumers 8% Source: DMA – ‘Data Privacy: What the Consumer Really Thinks 2018’
Relevance
Do Consumers Like Personalisation? Source: DMA – ‘GDPR: A consumer perspective 2018’
Reduce Irrelevance To what extent are you comfortable companies using your data to stop me receiving recommendations I am not interested in? (% that are ‘Comfortable’) Source: DMA – ‘GDPR: A consumer perspective 2018’
Personalisation Drives Data Sharing 34% 26% 2015 2017 Source: DMA – ‘Data Privacy: What the Consumer Really Thinks 2018’
Interrelated Issues Data Relevance Trust
What’s Next?
Questions? Tim Bond, Head of Insight, DMA @tim_j_bond @DMA_UK research@dma.org.uk
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