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BizReport : Research archives : September 20, 2016

82% of marketers lack knowledge, resources to create single customer view

Marketing technology firm BlueVenn has a story to tell about which battles marketers perceive to be their toughest and which 'mythical beasts of marketing' they encounter along the way.

by Helen Leggatt

The Hydra of Customer Segmentation and the Cyclops of Single Customer View both rear their ugly heads in BlueVenn's cleverly crafted 'storybook' report of their research into what marketers consider the most challenging elements of their roles.

storybook.pngBlueVenn's survey of more than 200 decision-making marketers in the U.K. and U.S. found that 82% said they lack the knowledge, or resources, to create a single customer view. Forty-one percent said they have 20 or more data sources for every customer.

In fact, with so many sources of data to collate, 1 in 10 listed achieving a 360-degree view of a customer as one of their "mythical beasts" (a marketing concept they believe is just not practical in the real world). However, 43% said that a single customer view would result in the greatest ROI.

The Hydra of Customer Segmentation also proved a challenge to marketers. The majority (80%) did not feel they were effectively segmenting their customers in real-time. According to 39% of marketers, data segmentation is the most important skill for businesses to acquire over the next two years.

"More than ever, marketers have the data available to them to effectively track their customers throughout the sales cycle and truly understand what makes them tick," said Anthony Botibol, marketing director at BlueVenn. "Unfortunately, our research suggests that most marketers either don't have the tools, the time, or simply the skills necessary to access and utilise the data available to them."

The story also tells us what keeps marketers awake at night. Most cited 'trying to prove marketing ROI' (38%), while 34% worry about having too many data silos. Duplicates keep 29% awake, while 23% worry they do not know their customers well enough.

Tags: marketing, metrics, research, ROI

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