Media execs say they aren't taking full advantage of data

Data from Accenture finds that 91% of senior execs in media and entertainment admit they aren't taking full advantage of customer data which could improve engagement by offering more relevant information. What's more, 95% report they don't have strong enough customer relationship management (CRM) software in place to help manage customer information.

Other interesting takeaways from the Global Media & Entertainment High Performance Study include:

"Although some companies have made more progress toward achieving the goal of distributing content via any channel, in any format, to any device, most still need to form a holistic view of their digital consumer so they can monetize their content," said Marco Vernocchi, global managing director of Accenture's Media & Entertainment industry group. "Revenue growth in this new, multi-platform world is dependent on delivering personalized, consumer-driven content to individual consumers via the right platform. This change in focus from the mass-market audience to an audience of one requires a complex shift from mass media to mass technology."

Of those using social media as part of their strategy only about 38% are using it to engage customers/build intimacy and only 17% are using social to build conversions

Tags: Accenture, customer data, online media, social data, targeted advertising, targeted content