There's an oldbusiness adage that says, "You can't manage what you can't measure."
In other words, it's impossible to know what's working (and what's not), if there are no defined metrics to judge success.
While the vague "catchall" approach to marketing used to work for some businesses, the push for data-driven marketing initiatives comes as a response to the consumer's demand for more personalized experiences.
According to a study by Janrain, 74% of online consumers admitted that they get frustrated with websites when content appears that has nothing to do with their interests.
To compete in this new marketplace, agencies need to place a greater focus on generating, analyzing, and applying data to their client's campaigns.
Don't know where to focus your efforts? Unsure what data you should be collecting in the first place?
For answers, check out Adweek's infographic featuring Teradata's Global Data-Driven Marketing survey.
Originally published May 4, 2015 9:00:00 AM, updated August 17 2017