Marketers Plan Spending and Hiring Increases In 2013 to Keep Up with Big Data
PORTLAND, OR – Jan. 21, 2013 – A new study released today, by two Infogroup companies, finds that marketers plan to increase big data spending in 2013 by hiring employees and building systems to keep up with the fire hose of information generated by a growing number of digital and social channels.
The report from Infogroup Targeting Solutions and Yesmail Interactive, reveals that almost 70 percent of companies plan to spend more on data-related marketing initiatives in 2013, with a heavy emphasis on hiring. More than half of the respondents surveyed said they plan on adding new employees to oversee their data efforts this year, including analysts and executives.
In surveying more than 700 marketers who attended the DMA2012 Annual Conference and Forrester Research eBusiness Forum, the two companies found that the big data trend will significantly impact corporate budgets in 2013 as marketers place a growing emphasis on analytics, real-time data and integrated multichannel marketing.
“When it comes to big data, hope is not a strategy,” said Michael Fisher, president of Yesmail Interactive, an Infogroup company. “In 2013, brands should be taking a disciplined approach to building out their data operations. Data collection has almost been the easy part; the new challenge will be connecting the dots between different types of data across multiple channels. That’s really where marketers can get to know their customers on a deeper level.”
Shift Toward Data Analysis
The survey findings suggest that although most marketers have successfully implemented data-collection tools, they will focus this year on putting technology and people in place to use their customer information in a more sophisticated and targeted way. For example, 45 percent of marketers identified analyzing or applying customer information as the biggest data-related challenge they will face this year. Only 11 percent said data collection will be their most difficult task.
Among the report’s key findings around data-related spending and hiring:
- 68 percent of marketers said they expect their data-related expenditures to increase greatly or slightly in 2013; only 3 percent said they expect data-related expenditures to decrease.
- 56 percent plan on hiring new employees to handle data collection or analysis, with the most common position being a data analyst (20 percent).
- 5 percent said they plan on hiring an executive to oversee data initiatives.
“Companies should be going back to the basics and building a solid foundation for their data initiatives,” said Don Patrick, president of Infogroup Targeting Solutions. “They should be investing in processes, people and systems necessary for implementing a data strategy driven by getting to know their customers on a deeper level. It’s critical to take a disciplined approach to putting all the right pieces into place.”
Growing Use of Real-Time Data
Companies are also starting to realize the need for more timely use of customer data to drive more personalized marketing campaigns. More than half of the survey respondents said they have already started implementing real-time data and plan to make greater use of it in 2013. Another 30 percent said they plan on using it for the first time or consider using it.
The study also provides additional insights into 2013 data and marketing trends. Among the findings:
- Almost 80 percent of marketers plan to make greater use of customers’ social media data to drive marketing campaigns in other channels in 2013.
- The majority of marketers use insights from customer data to drive marketing campaigns on their website (83 percent), email (72 percent) and social media (59 percent).
- Less than half use customer data to drive marketing campaigns through the offline channels of direct mail (47 percent), print (32 percent) and telemarketing (30 percent).
- Almost half the respondents said their website is the best source of gathering customer data, followed by email (19 percent) and social media (12 percent).
- More than 25 percent of marketers admit they don’t know when they last performed quality control on their customer data.
To view the full report, “Data-Rich and Insight-Poor: Marketers Planning to Turn Information Into Intelligence in 2013,” please visit http://lp.infogroup.com/survey-report.
About Infogroup Targeting Solutions
Infogroup Targeting Solutions helps companies increase sales and customer loyalty through analytically driven consumer and business data and database marketing solutions. With exclusive access to the Data Axle™, we build multichannel solutions using contextually relevant information on 235MM individuals and 24MM businesses. For more information, visit www.infogrouptargeting.com.
About Yesmail Interactive
We power intelligent customer interactions. We give you the insights to recognize and understand your customer to deliver contextually relevant digital communications- while respecting their preferences and privacy. We help marketers evolve their customer relationships through intelligent interactions via technology, insights and services in a near real time multi-channel environment. We help you compete in the age of the customer. For more information, visit www.yesmail.com.
Infogroup enables its clients –from local businesses to the Fortune 100 – to increase sales and customer loyalty through its high-value data and innovative multichannel digital and offline targeted marketing solutions.
Our proprietary Data AxleTM of contextually relevant real-time information on more than 235 million individuals and 24 million businesses is at the core of what we do. For more information, visit www.infogroup.com.