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A third of CMOs don't trust their marketing data
Data analysisManaging the marketing function
A third of chief marketing officers (CMOs) don’t trust the data they are given to inform campaigns, and that proportion rises to 51% among chief technology officers (CTOs) and chief data officers (CDOs), according to research from analytics platform Adverity.
Why it matters
Just 41% of data analysts mistrust the data so the trust divide becomes greater the more senior you go – which must be a cause for alarm, Adverity suggests. Key strategic decisions regarding spending, budget allocation, and campaign optimisation are being made without accuracy or confidence, potentially resulting in huge amounts of the marketing budget being misused or wasted.
The number one challenge (and a likely source of distrust) cited by both marketers and data analysts (42%) is the time being wasted manually wrangling data.
Over a third (38%) of data and marketing professionals also pointed to the inability to measure ROI on marketing spend as a major challenge.
Two thirds (65%) of marketers and data analysts stated that audience-building and targeting, along with personalised content delivery, is their most important strategic focus for 2022.
Respondents that already have strong campaign reporting are three times more likely to be strong at audience-building and targeting and delivering personalised content/customer experiences.
Businesses that already have strong campaign reporting are also three times more likely to invest in it than businesses that said they need to improve: the divide between those who are garnering greater insights from their reports and those who are not is widening.
“Marketing Analytics State of Play 2022: Challenges and Priorities” surveyed 964 marketers and data analysts across the US, UK and Germany.