Stats, Trends & Reaction: Data-Driven Marketing
15 Aug 2017
In this newsletter, we take a look at some of the results from the 2017 Data-Driven Marketing report conducted by Jaywing, what it means for Marketing and how Bodhi Resourcing can help.
Founded in 1999, Jaywing claim they are an agency that ‘lives to create change’ – specialising in: brand, strategy, insight, data, digital, search, CRM and more. During February and March 2017, they surveyed and captured the views of over 250 managerial to C-level marketers, within medium to large sized businesses. Sectors interviewed include: Financial Services, Travel & Leisure, Retail, Wholesale & Distribution and Telecoms or Utilities.
The first notable statistic from the report by Jaywing highlights the importance of CRM. Perhaps the standout statistic from the report is that 62% of marketers view Customer Relationship Management (CRM) as the most important skill for marketers currently with 62% also citing improving the customer contact strategy as the top data-driven priority for this year. This in itself highlights a skills gap – a large amount of the market view CRM as the most important skill, whilst also listing their customer contact strategy as an essential area of improvement. The market is starved of candidates with data-driven skills, but candidates with these skills are essential to help companies keep ahead of the competition. Here at Bodhi Resourcing we are Data & Analytics recruitment specialists and have a large database of candidates with the skills heavily in demand currently. We proactively source the very best talent on the market by using our database but also headhunting using the most modern technologies. Jaywing’s report found that ‘Managing data better’ is a priority for 92% of brands in 2017, yet only just over half (57%) said they had the right data skills and resources currently available.
There does also appear to be a lack of ability to measure attribution in marketing departments, as Jaywing report that: “When it comes to measuring the success of marketing, only 18% of marketers are able to measure attribution at an advanced level – meaning 82% are using inadequate methods and not modelling attribution effectively.”
“With the pace of change in the technological landscape, marketers need to be more technically adept and more data-focused than ever before. While technical skills can be learned, traditional marketing skills are just as important to success. But there are some notable skills gaps and a potential ticking talent bomb in data science and analytics. Companies are moving away from hiring marketers with one specialist skills set and are now looking for people who can do a number of things, from delivering a content marketing strategy to analyzing insights from data.” – Jaywing Expert Opinion.
21% of organisations surveyed still either only use Data Analytics at a basic level or not at all. Many companies are data rich but lack the insight skills to really reap the rewards from it. Having a highly skilled Data Analytics team allows for marketing to be much more tailored to the customers’ requirements and desires. With the amount of data now available, companies can gain an extreme amount of insight about the behaviour and habits of the consumer and therefore refine their marketing strategies to become more efficient and much more effective. There’s little doubt that those organisations that are effectively analysing data are gaining an important competitive advantage.
The DMA say the findings ‘reveals that a significant data science skills gap is preventing businesses from delivering a personalised customer experience and accurately calculating ROI.’
Modern technology has now made it possible to track the entire customer journey when clicking on a display ad – consumer’s actions across all channels can now be tracked. This gives marketing departments a huge amount of data and understanding of how effective their marketing is – but Data Scientists need to be in place to make sense of the overwhelming amounts of data and draw accurate insights in order to improve performance.
But what these findings perhaps show more than anything is that rather than a specialist Data Science department being needed in all organisations, it may now be more beneficial if all marketers are able to work with data and apply effective data insights. This is of course not easy for many organisations to do as there may be a large amount of the workforce that are important to the team, but not skilled with data. This is why it’s important to ensure the next generation of your marketing team are already equipped with the necessary skills to ensure your
We can see trends emerging with companies moving towards Data-Driven Marketing approaches and the benefits of doing so. This is an area Bodhi Resourcing specialise in recruitment for. For the last few years we have been helping our clients find top talent in the industry to help revolutionize their Marketing teams and therefore gain an advantage on their competitors. Nick Evans, Marketing Practice Director at Jaywing said: “The brands that will rise above the rest, will be those who can revolutionise their marketing strategies with data-driven approaches before their competitors do.” If you think your department needs some fresh faces, we’d love to have a chat with you about how we can help you get ahead of the competition by securing the very best talent in the industry. Give us a call today on 0117 315 5265 or email [email protected] to learn more.
Bodhi Resourcing were one of the fastest growing recruitment companies in 2016 and we have have continued that growth into 2017. We have an outstanding knowledge and expertise within the Data and Analytics market and apply our industry-leading expertise (and technology) to select only those candidates that meet our clients brief.
If this topic is of interest, you might like to take a look at an infographic we produced which shows the main findings from the DMA’s Data-Driven Marketing report – which highlighted some similar trends. If you’re a candidate looking for a new role, take a look at the latest Data & Analytics opportunities on offer at Bodhi.
You can request a copy of the full report from Jaywing here.