In July 2013 Acxiom commissioned Forrester Consulting to evaluate how companies use the data they collect from their customers to make better decisions on their marketing campaigns by gauging their experiences and attitudes around their use of and future vision for using customer data across multiple marketing channels In order to understand this topic, we conducted interviews with 11 executives representing a range of roles and perspectives, including consumer packaged goods companies, financial services organizations, and agencies.
Forrester’s study yielded five key findings:
- Today’s marketers are increasingly embracing the concept of data-driven approaches to marketing, whether it be in targeting or cross-platform measurement.
- Marketers consider targeting and measurement across channels, formats, and devices at the person level to be “the holy grail” of marketing.
- Massive challenges remain, however, when it comes to synthesizing and extracting meaning from the ever increasing reams of data available.
- The industry wide foundation of cookies for targeting and measurement is starting to show major signs of strain, necessitating the emergence of a new standard.
- Person-based approaches to targeting and measurement will usher in an era of customer life-cycle management.