Here is the third edition of our DatoRoundup blog, in which we feature the best stories dealing with the AdTech, MarTech, and data space. This week we share analysis from two recent studies on data-driven marketing, one from Nadia Cameron writing for CMO Australia, and one from Hila Nir posted on MarTech Advisor. We also take a look at the New York tech scene through the eyes of venture capital investor Matt Turck, share what Yuyu Chen from Digiday says about SaaS wars and why agencies are not onboard, and we watch Shane Schick interview Jennifer Golbeck on a variety of topics, including user trust, algorithms and advertising. Enjoy!
Report: Organizational Silos and Culture Inhibiting Data-Driven Marketing
By Nadia Cameron
Take a look at this concise summary of an all-new report from the CMO Council. The report looks at the state of data utilization, by marketers, in the name of customer experience as well as marketing technology investments. The report highlighted data access as a key reason for this issue. One quarter of respondents claimed only 25-50 percent of their data is being leveraged in real time for actionable insights. In addition, 21 percent said organizational silos were inhibiting their ability to harness the right datasets for customer success, while 20 percent were challenged with getting the rest of the organization to be data driven. A shocking 20 percent claimed there’s too much data to manage effectively, and 12 percent said data was “messy.” This is no surprise to us here at Datorama as that’s, in part, what drove the creation of our end-to-end analytics platform — the need to take messy data and clean it to provide actionable insights within a business.
Three Mistakes That Kill Any Data-Driven Marketing Strategy
By Hila Nir
It must be the season for data-driven studies. In this piece, Hila Nir who is the VP of Marketing and Product at ZoomInfo, analyzes the results of an Ascend2 and ZoomInfo study titled, “Data-Driven Marketing Benchmarks for Success.” The study surveyed marketing professionals to find out how successful data-driven marketing has become in practice. According to Nir the results were mixed, as
only 33 percent of respondents recognized their data-driven marketing strategy as “very successful.”
Nir goes on to offer her insights into three common mistakes marketing professionals make while executing a data-driven marketing strategy, namely:
- Casting the net too widely
- Not frequently refreshing customer and prospect contact data
- Not taking full advantage of customer and prospect data
Nir rightly summarizes, “With more innovation, though, comes more opportunity to derive ROI from data-driven tactics.”
The NYC Tech Ecosystem: Catching Up to the Hype
By Matt Turck
New York City is where Datorama calls home with our all-new global headquarters. The latest buzz on the street is that NYC is becoming one of the hottest tech locations in the world. Or, is it? Take a look at a venture capitalist’s take. Matt Turck of FirstMark Capital provides an analysis of the NYC tech scene. He has previously written about the NYC data community before we came on the scene, but in this piece he looks closer at the reality being experienced by companies and investors in NYC. After reading the first half of Turck’s piece, you might start to think it is all doom and gloom for NY-based tech companies. But read on. Turck is clear in his analysis that NYC tech is just starting to catch up to the hype and he is predicting big things for NYC startups. In fact, entrepreneurial activity and VC investment levels have never been higher. That’s good news!
SaaS Wars: Brands and Vendors Prefer Licensing Model but Agencies Lag
By Yuyu Chen
According to Yuyu Chen, when it comes to the AdTech space, the software licensing model is a controversial one. It seems that while more brands and vendors show interest in a Software-as-a-Service model, the agencies and media communities are not keeping up. One of the reasons for this would be that AdTech remains murky due to a lack of transparency in many prevailing business models. With licensed technology, brands have the flexibility to choose agencies, vendors or consulting companies to operate the service for them, and some sophisticated marketers can even bring programmatic in house. There is also external pressure that many AdTech companies feel from their investors, pushing them to have recurring revenues rather than taking rev-share, which is adding to the problems plaguing the AdTech industry right now. This is a must read!
Data, Algorithms and the Big Issues for Advertisers (Video)
By Shane Schick
Shane Schick gets the elusive, but very much revered, Jennifer Golbeck to discuss the challenges of getting users to trust and share information in this fascinating Q&A video interview. In the interview, Golbeck talks about things that may be on the minds of ad agencies and their clients, including:
- The real challenge for marketers making use of data
- The potential and limitations of algorithms
- What ‘crossing the line’ means in an AdTech context
Thank you for reading this week’s DatoRoundup.
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