Half of the UK's marketers are failing to use in-depth customer data despite strong digital marketing investments, according to the European 'Data Driven Marketing' survey from Teradata eCircle, which also found that marketers are increasingly targeting email and social media channels rather than mobile devices and search engines.
The study found that although 55% of senior marketers in the UK were reaching out to their customers across seven or more channels, almost half were failing to collect high volumes of in-depth customer satisfaction and engagement data (49%) to use in their tailored marketing campaigns. Meanwhile, only one quarter (25%) said they were collecting point of sale (POS) data, and even fewer (19%) collect psychographic data.
However, the research showed that the UK leads the rest of Europe when it comes to investment in marketing technology, with marketers spending 13.7% of their budgets on it in the UK, compared to 11.7% across Europe.
Additionally only half of UK marketers are recognising the value of customer service and engagement data and web browsing behaviour. In comparison, in Europe psychographic data - which incorporates customers' personality, values, attitudes, interests and lifestyles - ranks far higher allowing European marketers to offer a more personalised brand experience to their customers, drawing on individual preferences and spending behaviour.
The research also highlighted a strong commitment by marketers across the UK to increase their investment in email marketing and social media management technology, and a smaller commitment to invest in mobile and SEO marketing. This suggests a trend to focus on more traditional and reliable forms of digital communication.
"The fact that the UK is leading the charge in investment in marketing technology across Europe clearly shows that British marketers are preparing for the future and are in the best possible position to deliver results for their businesses," said Volker Wiewer, vice president for Teradata eCircle. "Investment in technology is vital if marketers are to be able to improve efficiency and ultimately contribute to increasing their companies' revenues. Marketers still need to realise the value of psychographic data, to adhere to best practices, and to offer their customers the tailored brand experience they expect."