CMO Research: Whose Data Is It Anyway?
Whose Data Is It Anyway?
Despite the wheels being set in motion when it comes to building a data-centric businesses, it would not be outlandish to say that brands might struggle to fully achieve this due to ongoing shortages of data skills across the marketing industry as a whole.
Almost half of UK CMOs (45%) estimate poor data handling risks costing their business between £250,000 and £5m everyyear
Only 27% of CMOs say the industry is ‘ahead of the game’ with having the skills needed to deal with customer data privacy
Almost three in four (74%) people are more concerned about the privacy of their personal information compared to this time two years ago
Over half (55%) of CMOs believe they are tapping into just 40% or less of their first-party data’s potential.
This paper explores the challenges brands need to overcome in order to manage data more effectively and build consumer trust, at a time when consumers are hugely concerned about privacy.
At Silverbullet, we believe that having a talented team of data experts in place, whilst implementing a sound strategy is vital for any brand. Throughout 2020 we will see a shift in how effectively data is managed in-house, and brand marketers will lay the foundations needed to create strong data cultures within their organisations.
Download our research paper today.