Brands struggling to master the value of real-time data as pressure builds on marketers, finds Capgemini
Brands are struggling to master the art of data-driven, real-time marketing as the pandemic triggers another shift in customer behaviour, research has claimed.
While pressure builds on marketers to take on new responsibilities, many admit they do not have sufficient expertise to keep pace with the demands placed on their departments.
Research from The Capgemini Institute, part of global technology organisation Capgemini, found that 75% of traditional marketers are now responsible for business growth, and the use of data and technology. Yet only 12% believe they have the required data access, capabilities and talent to drive value from data-driven real time marketing.
Campgemini acquired RXP Services in Australia earlier in the year, as part of its growth strategy for the Asia-Pacific region. This included creative agency The Works.
“Although all marketers are using data in some way, most are not applying it to drive marketing decisions,” the report’s authors said after collating responses from 1,600 marketers around the world, Australia included.
“For instance, only 43% of marketers say their teams use data to decide a go-to-market strategy for a new product or service, and 40% use data to modify their campaign strategies.”
In an era where the need for rapid, real time insights into shifting consumer behaviour is so important, marketers and brands who are proficient in data-driven advertising are out-manoeuvring their more traditional competitors, the report said.
While 88% of data-driven marketers can adapt and change content based on real-time data, only 38% of traditional marketers have the same ability, it said.
“For traditional marketers who do not qualify as data driven, catching up with high-performing rivals is necessitating a fundamental shift in roles, skills and capabilities,” the report found.
Jean-Pierre Villaret, head of Capgemini-owned Frog Europe, said: “The COVID-19 pandemic has accelerated digitisation in a way no one could have predicted. Customer-data volumes are growing as online sales increase.
“This provides a host of opportunities for CMOs and marketing departments to better understand and serve their customers. And, a section of marketers are achieving the full potential of data-driven, real-time marketing and realising the benefits it brings with regards to brand awareness, customer satisfaction, retention, and conversion.
The task for the vast majority, he said, is to modernise their data capabilities and reskill their workforces in order to stay competitive with “data-driven high flyers”.
