The rapid growth of digital marketing technologies and solutions has resulted in a complicated, fragmented landscape that generates vast volumes of data, but limited insight, according to performance marketing experts, Tradedoubler. The main casualties of this approach are marketers trying to make informed, data-driven decisions about customers and campaigns.
In a new insight paper Connected consumers, disconnected solutions – performance marketing at the crossroads that reviews current and emerging digital marketing trends, Tradedoubler outlines some of the key challenges and calls for integration, clarity and a better use of data across the landscape.
The large volumes of data available, often disconnected and sometimes even contradictory are overwhelming marketers trying to make the right decision about who their potential customers are and where and when to engage them; with too much time being spent managing the complex technology ecosystem. A third (37 per cent) say they are unable to use data collected from online sales to inform targeted digital strategies and drive higher ROI.
The paper recommends that marketers invest in tools that can collate data from a range of sources. This will enable them to derive the kind of insight that they need to have a clear picture on campaign performances and ultimately make better business decisions.
Dan Cohen, regional director at Tradedoubler commented: “Brands are struggling with the sheer number of digital marketing platforms available and as a result are relying on instinct rather than testing their campaigns and trusting what the data can tell them. New innovative technology has created an immense opportunity for digital marketers but the trick lies in identifying and reacting to the right information at the right time.
“Three-quarters of consumer brands say that engaging connected customers is a priority. However, reports show that only 29 per cent of marketing departments have strategies in place to target and sell to this audience.”
Cohen added: “Technology has created this data paralysis, but new advances in technology can also remedy it.
“For example, at Tradedoubler, we have recently introduced ADAPT, a new business intelligence tool designed to provide digital marketers with their most important marketing and sales information, where and when it’s needed most, so they can make smarter business decisions.”
ADAPT delivers detailed live information on programme performance through customised dashboards that visualise complex data and enable users to understand the performance of their programmes and optimise results that drive a more efficient return on investment.