Well, you will agree that customer data has become like the new digital gold in today’s business world. In fact, according to CloudTalk, about 80% of companies witnessed revenue growth after using real-time data. Elsewhere, Number Analytics expects the global data sphere to grow to 175 zettabytes, with one zettabyte equalling one trillion gigabytes.
According to the institution, companies that adopt advanced systems to take advantage of this data can reap significant benefits. A good example is Netflix, which saves about $1 billion yearly through its personalization algorithms. To stay ahead of competitors, businesses are now using app intelligence alongside other data-based techniques to understand app performance, user behavior, etc.
So, to learn more about why you need to add data to your marketing strategy, continue reading.
Important statistics for you
We have already hinted at how many businesses are gravitating towards data-driven decisions. Just recently, a study was released where 73% of companies reported significant competitive benefits from adopting real-time analytics. Unfortunately, only 42% had successfully adopted them.
For businesses considering investing in instantaneous data processing systems, this is a great opportunity to distinguish yourself from the crowd. Plus, don’t forget that immediacy has become a prevalent need today – from instant responses to quick deliveries, you always want to ensure you can respond to changing conditions in real time.
Surprisingly, businesses that implement advanced analytics experience an 8-10% rise in profits and a 10% decline in operation costs. The ROI varies from 250% to more than 1,000% for brands that implement at large scale. As if that’s not enough, you increase the likelihood of outperforming competitors in customer acquisition by up to 23 times.
Plus, identifying shifting market trends before competitors becomes even easier. According to experts, you may become 2.2 times more likely to detect these changes if you implement advanced analytics. On top of that, you increase the likelihood of launching customer-focused products by 5.3 times.
The growing need for personalization
Imagine visiting your favorite streaming channel and finding a playlist that looks exactly like your preferences. This is an experience that many people would welcome. In fact, according to experts, about 81% of consumers now expect personalization.
You don’t want to have a brand that’s indifferent to customers’ unique needs and interests. Since it helps to change generic interactions to meaningful conversations, personalization can help provide a sense of individual care.
Thankfully, technology has made it possible to exact meaningful information about users’ interactions – whether on e-commerce sites or social media platforms like Instagram – to customize communications and provide content that truly resonates with their tastes.
Looking at the statistics, experts suggest that you may frustrate up to 76% of consumers if you don’t provide such an experience. It’s no wonder that, according to Statista, almost half of surveyed marketers across different nations confirmed using this strategy to improve both customer retention and experience.
Think of it this way: A buyer visits your Instagram retail channel and mainly explores summer fashion trends. By analyzing their past interactions with your channel, you can recommend more content associated with upcoming summer collections, exclusive social media discounts and so on. Such experiences allow users to find more relatable content without hassle, improving customer experiences.
Plus, given that consumers actually prefer personalized experiences, adopting them can really improve your competitiveness. According to a recent Contentful report, about 89% of marketing decision-makers claim those experiences will be an important part of their business success for the next three years.
As a marketer who doesn’t want to be left out on current trends, this is not a statistic you want to ignore. Also, since about 63% of digital marketing executives are struggling with customizing customer experiences, you may want to adopt a very effective method to set you ahead.
Attribution matters now more than ever
Tracking whether traditional methods like billboards or radio ads had converted was quite challenging. Today, users often bounce between devices, platforms and channels before deciding to purchase – and marketers are expected to keep up.
The good thing is that many of them already use attribution modeling in one way or another. A study by UniFida approximates this figure to be about 81%. Especially now that customer journeys have become very fragmented, the need for data-based decision-making on what’s working and what isn’t can never be overstated.
For instance, suppose someone sees your Instagram ad, reads a blog post on their tablet, signs up for your newsletter via email and finally converts after clicking a retargeting ad on a desktop. Without cross-platform tracking and reliable attribution models, you’d never know the touchpoints that really mattered. This is why more than 80% of marketers are already using cross-device tracking.
From this discussion, data-based decisions seem to be the new future. Reportedly, JPMorgan Chase has implemented a machine learning system, COiN, that saves up to 360,000 hours that would have otherwise been spent by lawyers and loan officers reviewing documents manually. This is just one example of the many where data-based decisions have proven to be beneficial.
For marketers, data helps to meet the growing need for personalization and cross-device tracking. And given that many companies are still struggling with personalization, implementing an effective strategy can greatly improve your edge. With all these factors put together, we may see more marketers open up to data – not just in 2025 but also in the coming days.