The second edition of the MMA EY Leveraging Consumer Data For Marketing 2022 report is based on a survey in which over 170 CEOs and CMOs across various sectors participated to understand the trends amongst the CXO community on consumer data strategy and critical success factors. The report offers a deep dive into the world of data maturity and best practices to guide marketers and provide them with toolkits to ace their data marketing journey.
According to the second edition of the MMA-EY Leveraging Consumer Data for Marketing report, there is a rise of Indian marketers leveraging consumer data for marketing activities. In 2022, 54% of marketers leveraged consumer data for marketing activities compared to 42% in 2021.
Data types and uses:
- 73% of Indian organizations relied on a blend of first-party (1P) and third-party (3P) data for marketing activities.
- Most marketers believe that data breadth, depth, and quality gaps need addressing to enable optimal use of data for decision-making.
ROI measurement and attribution:
- Organizations are moving toward enriching their 1P data through communities, advocacy, and contextual targeting.
- 38% of Indian marketers saw performance and growth, and 36% saw the brand building as the key focus areas for organizations.
Capabilities and skills:
- 79% of respondents had established or outsourced best-in-class martech capabilities.
- 100% of retail and e-commerce, Telecom and Automobile companies said they had either industry-leading or developed martech capabilities.
Data ownership, governance, and integration:
- Although Indian marketers outlined ownership and management strategies for 1P consumer data, there was little / no integration of 1P and 3P data, limited staff access to data, and no cross-fishing regulations.
- With limited employee access, 55% of Indian marketers have little to no integration of their 1P and 3P data.