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Executive Interview : Rocket Fuel Study Finds Marketers Want New Data Management Approach
Rocket Fuel (NASDAQ: FUEL), a programmatic media-buying platform provider that uses artificial intelligence (AI) at Big Data scale to improve marketing ROI for global agencies and enterprise marketers, announces it has released a commissioned Forrester Consulting study, "One-to-One Marketing," that investigates how marketers can reach today’s always-on customer through effective data management.
"One-to-one marketing, based on deep knowledge and a holistic view of customers and prospects, is the next step in the evolution toward truly personal cross-platform digital experiences that satisfy consumers and deliver results for marketers."
Today’s digital marketer is faced with a persistent challenge: Getting a unified view of an individual consumer across multiple channels, from mobile, to display, to video, to social. Bringing those interactions together can enable a marketing campaign to automatically learn more about an individual consumer’s preferences and behaviors -- no matter where they’ve interacted with a brand -- and then drive that consumer to action.
The February 2015 study, commissioned by Rocket Fuel and conducted by Forrester Consulting, shows 75% of marketers’ interest in one-to-one marketing has increased within their companies over the past year. In addition, almost half of marketers surveyed are interested in using a DMP (data management platform) to more effectively reach their target audience.
The data management platform (DMP) category of products, which brings all of an individual consumer’s interactions together across channels, allows marketers to drive sales and build brand equity. As Forrester concludes in the study, "One-to-one marketing, based on deep knowledge and a holistic view of customers and prospects, is the next step in the evolution toward truly personal cross-platform digital experiences that satisfy consumers and deliver results for marketers." The free study concludes with a list of recommendations marketers can use to achieve and create relationships with loyal customers.
In the study, Forrester conducted an online survey of 103 business-to-consumer marketers with at least manager seniority and oversight of targeted marketing tools and technologies from a variety of industries in the U.S. and Canada.
Key findings include:
The shifting customer life cycle demands a new model of data-based engagement.
81% of respondents agree: The always-on, multi-device consumer is now in control of the company/customer relationship, and that’s a fundamental and historic change. In order to thrive in this new environment, marketers must learn all they can about customer practices and preferences.
Sourcing, aggregating, and analyzing data remain significant corporate challenges.
Only 23% of survey respondents consider their organizations to be "completely prepared," and even fewer -- 21% -- said their current marketing practices "completely align" with one-to-one marketing. Further, the necessity of respecting and protecting consumer privacy is a serious concern. 78% say protecting their customers’ personally identifiable information (PII) has risen in importance over the past year, yet only half of respondents have staff dedicated to doing so.
Many companies can’t rely on internal resources alone.
Beyond assessing and organizing internal data resources and aligning executives around key corporate data strategies, an average of 64% of respondents stated they require the help of partners with proven track records that can supplement internal resources and deliver results.
In this study, Forrester conducted an online survey of 103 B2C marketers with at least manager seniority and oversight of targeted marketing tools and technologies from a variety of industries in the U.S. and Canada. Forrester also conducted four 30-minute qualitative interviews of respondents from the same sample. Questions provided to the participants asked about their current and planned practices regarding marketing personalization and customer data integration, their current and planned investment in technologies supporting such capabilities, and the benefits and challenges they have experienced in the implementation or expansion of such capabilities. Respondents were offered a small incentive, determined by their respective survey panels, as a thank you for time spent on the survey. The study began in June 2014 and was completed in August 2014.
Today's Tip of the Day - Minimize Change
Published: Wednesday, April 1, 2015