Data has become an increasingly popular resource for marketers, new research from marketing platform YouAppi reveals that 98 percent of respondents say they have increased their organizational investment in data.
What’s more that investment is paying off, 97 percent say they have seen improvement, with more than half of those calling the improvements ‘significant.’
Areas of investment include reporting and dashboard technology (81 percent), in-house data analytics teams (64 percent), purchasing third party performance data (47 percent), adding more data-centric roles on internal teams (46 percent) and hiring outside agencies for data analysis (24 percent).
As well as increased spending, 96 percent of marketers say their job duties have also required a larger focus on data, with 57 percent categorizing that increase as significant. Though every level of the marketing team has been impacted by the role of data, executives have seen the largest change, with 62 percent citing a dramatic increase in their focus on data and metrics.
“It’s fantastic to see more organizations take advantage of the skills and expertise that performance and brand marketers bring to the table, and create an environment where these two disciplines can better complement one another,” says Moshe Vaknin, founder and CEO of YouAppi. “As marketers continue to invest in more sophisticated data analytics, and find creative ways to make that data actionable, they will see measurable results that connect them in powerful ways to their end customers.”
All this is having a positive effect as the majority of marketers feel confident in their own job security, with 64 percent citing zero concerns about impact to their employment. Over the last two years, the bulk of hiring has happened at the performance marketer level (46 percent), while an additional 32 percent of respondents say their companies are hiring both brand and performance marketers at equal rates.
What’s more, respondents anticipate ongoing investment in marketing efforts throughout 2019, with 91 percent of performance marketing teams and 54 percent of brand marketing teams anticipating additional budgets and expenditures in their departments.