Data marketing confidence on the wane, ADMA chief warns
Sangster
The head of Australia’s biggest data marketing association has admitted advertisers’ confidence in using data is “not particularly high” as the amount made available to them expands rapidly.
Jodie Sangster, chief executive of the Association of Data Driven Marketing and Advertising (ADMA), said marketers believed they had cracked the data world in 2012. But three years on, their confidence has drained.
She told ADMA’s Data Day conference in Sydney this morning the collection of data has become increasingly complex.
Not enough case-studies where the methodologies are generalisable and replicable for other industry categories. Why?
a) Do you seriously expect a business to give away such a crucial competitive advantage so relatively early in the data game, if it does exist?
b) As Jodie says, what’s needed is a skill-set to match. Certainly not pure number-crunching types, but a hybridised marketing type who knows how to seek insight from the numbers and also knows how to leverage it. Forget ‘creativity’, this will be the new desirable ‘black art’.
Meanwhile, for the businesses that don’t have a) or b), their pile of data expands exponentially every millisecond with no way of knowing how to use it. And a paralysis has set in…
@me. As I read on another post today “The ratio of relevant data to irrelevant data will asymptotically approach zero.”
Such interesting times. On one hand a significant lack of confidence in understanding data and the opportunities is highlighted by someone close to the action, on another a prominent marketer says we have too many ‘math men’ and not enough ‘mad men’. (https://mumbrella.com.au/qantas-marketing-boss-marketers-too-focused-on-math-also-need-great-ideas-280733).