New Industry Survey Finds Key Barriers and Objectives for Marketing and CRM Professionals
in Today’s Data-Driven Business Environment
WALTHAM, Mass. — June 10, 2014 — A recent survey conducted by Pursway found that while most marketers feel pressured to drive more value from their data, the influx of data has not stopped declining campaign performance.
According to a recent MIT Sloan Management Review report, professionals across functions feel pressured to become more data-driven and analytical, but only a minority think they frequently have all the data needed to make key business decisions. Likewise, the majority (77 percent) of marketing, CRM and data analytics professionals participating in Pursway’s survey reported being under pressure to make better use of existing data.
Harnessing big data (17 percent) and declining campaign response rates (17 percent) are the most pervasive problems across all industries according to respondents. However, the perceived barriers to more effective marketing vary by function: Direct marketing professionals cited declining campaign response rates (25 percent) and harnessing big data (21 percent); yet CRM professionals were more divided. CRM professionals noted analytics yielding small, incremental benefits and customers starting to opt out of campaigns as the primary barriers (both earning 19 percent); declining campaign response rates, list fatigue, harnessing big data and reduced marketing budgets all followed closely behind at 14 percent.
While data may be a pain point, according to respondents the primary objectives for 2014 are to improve campaign response and conversion, as well as identify better prospects and increase acquisition (both earning a “very important” or “somewhat important” ranking from 95 percent of respondents). In addition, understanding which channels work better is top of mind for 93 percent of respondents across all functions and industries.
“Marketers are still struggling to tap into the surge of data in a way that generates real value,” noted Ran Shaul, founder and chief client officer of Pursway. “They feel hampered by inconsistent, unusable data. The answer is not more data, but better use of existing data.”
Pursway helps direct marketing, data analytics and CRM professionals unlock value within existing customer and prospect databases, without relying on other business units. Pursway overlays its proprietary data and scientific algorithms to generate powerful insights on customer/prospect relationships that drive business results and immediately optimize marketing campaign effectiveness across all channels.
For an in-depth look at the complete survey findings and breakouts by industry, please request access to the full report by contacting email@example.com.
Pursway conducted this online survey in April and May 2014 through a variety of online channels. More than 100 marketing and CRM professionals participated in survey. Respondents came from a cross-section of industries, representing various company sizes and individual roles. A comprehensive breakdown of respondents by industry, company size, tile, etc. can be found in the full report.
Pursway’s smart targeting technology offers a way for direct marketing, data analytics and CRM professionals to make better use of their existing data. Pursway’s scoring system reveals relationships between individuals in a database, so marketers can more effectively target important people within a sphere of influence – amplifying the effect of every marketing program across every channel. Friends buy what their friends buy, and Pursway makes it easy to activate that network effect and lift response rates. Serving companies such as Comcast, Orange and Sony, Pursway consistently increases marketing ROI by 2-5X. Backed by Battery Ventures and Globespan Capital Partners and headquartered in Waltham, Mass. and Herzliya, Israel, Pursway is led by a team with a proven track record in advanced machine learning, social network analytics, and consumer marketing disciplines. For more information, visit www.pursway.com.
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