25% of marketers say they have all the information necessary for personalization.
According to Ascend2, only 25% of marketers believe they have the necessary data to implement their personalization strategy. According to a new report from Ascend2, only 19% of respondents strongly agree that their technology is capable of the job.
Not all data is bad. 49% of marketers said they have enough data to personalize their marketing efforts. According to 355 marketers, 26% disagreed.
Why we care. It is surprising to see that much of the digital transformation in marketing is still in process. These problems aren’t just technological. No matter how well-designed your CRM, if you are unable to access the data needed for it, it doesn’t really matter. Some business units might be reluctant to share information, mainly because they don’t know why it is necessary and because it can be leveraged within the organization.
Too much innovation may be causing the tech side to “suffer.” At last count there were nearly 10,000 martech products on market. There are almost always one that can provide the solution you require. The downside is that integration and/or interoperability problems are more common the more you use them.
Deeper: How bad data can ruin good personalization
Technology is great, but could be even better. It is encouraging that 60% of respondents agreed with the question about whether their marketing technology allows them to create personalized experiences. Although 21% of those surveyed disagreed with this statement, only 5% agreed strongly.
As the greatest obstacle to executing a successful personalization campaign, budget continues to top the list. It was cited by 43% of marketers, an increase of five percentage points over 2022. Although 37% of marketers cited it, this is still lower than the 39% that were last year. The top five include creating/delivering relevant content (32% in 2023, compared to 31% in 2022); tracking customers throughout the journey, 31%/28%; and having all the technology required to execute (26% / 21%).
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Only 25% Of Marketers Report Having All the Data Required for Personalization originally appeared on MarTech.