Lack of data science skills holding marketers back
40% of marketers think that a lack of analytical and data science skills is a major challenge to their customer contact strategies, according to research by Jaywing.
The survey of 250 managerial and c-level marketers found that many perceive this skill gap is preventing businesses from delivering personalised customer experiences and accurately calculating their ROI.
While 92% of respondents agreed that data management is important for their business, 40% think that a lack of analytical skill is stopping them from delivering an optimum CRM strategy.
61% stated that CRM is the most important marketing skill, and 65% listed the availability of data as one of their brands strengths in the current climate.
However, 65% perform only basic personalisation of communications or none at all. Of the respondents, only 8% reported fully personalising the customer experience across all of their active channels.
“The 2017 data-driven marketing report reveals that while the vast majority of marketers understand the positive impact data-driven marketing can have on customer relationships and ROI, they lack the capabilities, knowledge and confidence needed to utilise the abundance of data available to them,” Nick Evans, marketing practice director at Jaywing said.
“With the rapid pace of change in the technological landscape, it is more essential than ever for marketers to ensure their marketing is data-driven, customer centric, personalised and measurable.”
Losing track of ROI
Another finding of the survey was that many brands seem to be lagging behind when it comes to accurately measuring ROI and attribution across channels.
18% of respondents currently use advanced attribution models. This is despite 59% saying that being able to accurately attribute value across all channels is important to their organisation.
“As data continues to proliferate, the challenges in managing it do too. Technologies will eventually catch up in terms of data processing, insight and automation, particularly as AI becomes more prevalent,” continued Evans.
“However, even with emerging technologies, marketers will still need to be able to plug them in to legacy systems and use analytically derived insight to stay ahead of the game. By adopting best practice data-driven marketing today and looking for help from experts, brands can effectively plug the data skills gap.”
You can get the full report here.