Most UK firms still ignoring customer insights
Fewer than half of the UK's financial directors and managers think that companies in their industry sector are successfully using customer data to drive marketing initiatives, according to survey by consumer insight firm KDB.
When asked if they believed that, in general, most companies in their market sector are able to access and analyse customer data and then use that intelligence in their marketing strategies, only 43% of the 1,000 finance directors and senior financial managers surveyed agreed.
The sector in which respondents were most likely to believe that firm are using customer insight for more intelligent marketing was Hospitality & Catering, at 72%. Other sectors reporting strong use of data-driven marketing included Travel & Transport (65%) and Banking (50%).
Sectors in which the use of customer data to inform marketing was seen as weak included Retail (38%), Media & Marketing (at a worrying 36%), Utilities & Telecoms (also at 36%), and Healthcare (29%).
Regionally, the areas in which most respondents believed that companies in their sector are using customer data to boost their marketing were: Scotland, the North West, and the South East. Areas that reported less data usage included Wales, London, East Anglia, the North East and the South. The Midlands, Yorkshire and the South West were all around the national average (43%).
According to Matt Boot, chief analyst for KDB, "Using customer data to better inform the marketing strategy is vital in the current economic environment. Smart marketers are using every bit of customer insight available, both to get more out of existing customers and to make sure they are approaching the right potential customers in a way that will work. In short, more effective use of customer insights can help identify the right targets for marketing campaigns - those who need the most persuasion."
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