Some 61% of digital entrepreneurs are nonetheless utilizing third-party knowledge, based on Salesforce’s newest State of Advertising Report. It additionally discovered issues with knowledge activation, personalization and AI optimization.
Though the share of entrepreneurs utilizing third-party knowledge is down from 75% in 2022, this illustrates an issue with discovering dependable info. The highest three knowledge sources, utilized by 84% of entrepreneurs, are buyer perception, first-party and transactional knowledge.
Whereas connecting buyer knowledge for personalised experiences is at all times a problem, the phase-out of third-party cookies and the rise of AI are making it extra necessary and harder for companies to navigate this advanced buyer journey panorama. Solely 31% of entrepreneurs are totally happy with their skill to unify buyer knowledge sources.
Activation bottlenecks
Having the info isn’t sufficient and entrepreneurs discover leveraging it successfully stays a hurdle. A mere 48% of entrepreneurs observe a vital metric: Buyer Lifetime Worth (CLV). Moreover, 59% lack real-time knowledge for vital duties and nonetheless depend on probably outdated info or instinct. Even with entry to stay knowledge, activation is a bottleneck. Whereas 52% declare real-time knowledge is accessible for campaigns, 59% want IT help to put it to use. This means a possible lack of readily accessible knowledge instruments or a expertise hole hindering its efficient use.
What constitutes a “personalised expertise” continues to be a piece in progress. Solely 32% of entrepreneurs are fully happy with how they use buyer knowledge to create related experiences. Some 43% of these surveyed use a fragmented strategy to personalization — having an understanding of buyer wants at sure levels and leveraging mass messaging at others.
Dig deeper: Options to third-party cookies: The state of play
Entrepreneurs are desperate to harness the ability of AI, with 32% already utilizing it and 43% experimenting. Nonetheless, safety and buyer belief are main considerations as adoption grows. The attract of AI’s advantages is simple, with 88% of entrepreneurs anxious about lacking out. However particularly for executives, the worry is actual: can they embrace AI with out compromising knowledge safety or jobs? CMOs are notably anxious about knowledge publicity (41%) in comparison with 29% of VPs and 32% of group leads.
Methodology
The report (registration required) relies on a double-anonymous survey carried out from Feb. 5 to March 12, 2024. The survey generated 4,850 responses from advertising and marketing decision-makers throughout North America, Latin America, Asia-Pacific and Europe.
