Marketers still struggling with data, have options.

Data collection has been going on for some time now for most marketers yet many ( 70%) rated their ability to use the data they have on hand for marketing personalization as "Fair" to "Very Poor". There are a number of reasons factoring into why they are unable to effectively make sense of and use the data. It is because of this, and the growing complexity of the data being collected, that many marketers are beginning to realize the opportunities being missed by letting this data age too long, and bringing in third parties to help make data collection and analysis more agile and timely.

The struggle is real. - In a recent poll more than 72% of marketers said the ability to analyze data and use it for everything from profiling customers to better content personalization were a priority and needed help from third parties with reaching that goal. This means roles like data analyst and marketing technicians will be a growing field for many companies as the need to manage the third parties and making sure the data collection and analysis is done properly will become a growing concern. It also further underscores the need to tear down marketing silos and have everyone from multiple groups at the table discussing what data they need, how it is to be collected from various technologies, and then creating the companies "story" from the data to be used in Marketing to engage and ad value to the targeted customers.

Third parties to the rescue. - Fortunately this area of adtech is growing and there are a number of companies out there (like the one I work for) that will gladly take the data you have on hand, format it, analyze it, and give you the key points as it relates to your marketing back to you. Also of importance many of these will help you then format the data to be used in CRM and remarking efforts for the near future. One thing is very important and that is to make sure your in house team is collecting the right data so that what you need can be used in the final output. Often times the data collected is fractional, and gives only small glimpses of a number of different areas that are not enough to formulate any type of decisions from. Samples that are too small are deemed inconclusive and go to waste typically. If you can collect user data (user agent information, IP data, geography, search terms, etc)  and connect it with other relative areas like possible in store beacon use, upon downloads, mobile wallet or app use, this will all help in showing the path to purchase most digital customers take so the third parties can begin to map the similarities and create a best case for you.

The bottom line. - Using a third party does not admit defeat. It nearly means you are willing to put the budget into the process to propel its use and see the benefits and increased ROI a data driven more personalized customer centric approach can bring. It has been show consumers are more willing to adopt the technology needed if they see benefit from it in the way of ease of use, savings, and time sensitive custom offers they feel are specifically for them. Getting the data to the point where you can show your customers you know them without creeping them out, and adding value to the exchange and you will see a number of increased benefits from the exchange. Increased ROI and loyalty are just two of the areas waiting for you use data to claim the rewards to your bottom line.

Something you are struggling with? -  If you would like to discuss this solution more please feel free to reach out to me, and I can answer any questions on this, and where to locate providers who offer this type of service. ([email protected])

Thoughts? Feedback? Feel free to engage each other here and keep this an open forum. Comment here so we can keep the conversation going. If you enjoyed this article please see my others at https://www.dhirubhai.net/today/post/articles/650596?trk=mp-reader-h

Need help? - Bryan Gissiner has been in Digital Advertising for over 20 years in everything from retail to Founding his own tier two ad network. Currently, he helps companies utilize the right mix of current advanced technologies and marketing to outperform all of the other available alternative solutions in their target markets. He is a regular contributor on LinkedIn, with a large following of other experts from a number of different areas.

Bryan Gissiner has worked on both the publisher and advertiser side helping them to find ways to save budget and increase return on those budgets, often making them 2-3x more successful.

Connect with me! - , please go to www.dhirubhai.net/in/bryangiss, @bryangiss on twitter or contact directly [email protected] and send me an invite with specific requests, to discuss how he can bring his experience to add value to your company and help it continue to grow revenue and ROI.