A study by Treasure Data found that most marketers (84%) believe data is essential for their work. Still, data inefficiencies are preventing them from reaching their full potential.
In the last six months, marketers have spent an average of 31% of their budgets on poor data optimization. This lack of organization has cost them £1.6 million.
Three-fourths of all UK marketers confess that their team has data inefficiencies affecting their marketing abilities. Additionally, over half of them feel they need more confidence to make the best use of customer data.
Many marketers feel insecure in their abilities regarding data, especially as they face more pressure to produce results that justify their spending. In a survey of 500 senior marketers, 72% said that the current economy has made them more accountable to provide a return on investment.
The paradox of data
The report claims that data is vital for a successful marketing strategy, but having too much of it can be harmful. The main concern? There’s so much telephonelists.biz data that marketers need help understanding what any of it means. 66% of respondents said they have difficulty wading through all the information.
Having a lot of data is fantastic, but knowing where to start or what to do with it can take time and effort. That’s why optimization is key to unlocking the full potential of your information and getting the results you need.
The answer: data optimization
Data optimization is the process of cleaning, organizing, and managing data to make it more effective. Optimizing your data can improve your marketing campaigns, better understand your customers, and make better decisions overall.
So, why is data optimization so important? Here are three key reasons:
Focus on the right data
With so much data available, it’s easy to get AWB Directory overwhelmed and lost in the noise. Data optimization helps you focus on the most relevant data for your goals and objectives.