A Tealium-commissioned global survey reveals the majority of
customer data strategies do not support the achievement of key business
objectives

SAN DIEGO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/CDP?src=hash” target=”_blank”gt;#CDPlt;/agt;–Tealium – the trusted leader in real-time customer data orchestration –
has today announced findings from a new global study¹
conducted by Forrester Consulting, into the state of customer data
strategies for businesses. The results reveal that while almost nine in
10 organizations have some level of strategy in place, many struggle to
impact key business outcomes effectively.

The research, which surveyed 330 decision makers at companies across the
globe – including the US, UK, France, Germany, and Japan – looked at
businesses’ approach to using customer data to drive customer
satisfaction, increase revenue, implement better data governance, and
improve profitability.

The survey confirms all companies can significantly benefit from
employing a robust customer data strategy, but the most data-mature
firms are more likely to enjoy the advantages of their efforts. More
than four-fifths (83%) of pioneer companies in the survey claim to have
a better understanding of their customers following the implementation
of a customer data integration initiative and three-quarters (75%) say
they experience increased marketing and analytics team productivity as a
result.

However, many organizations feel their current approach is insufficient
in supporting their key business objectives. Less than half say they are
very well supported by their customer data strategies to win new
customers (43%), improve customer trust (47%), improve data governance
and compliance (43%), and increase revenue per customer (40%).

Furthermore, just a sixth (16%) of the companies studied were
categorized as ‘pioneers’ for overall customer data management, meaning
they are able to analyze data in real time at the point of customer
interaction, leveraging insight based on strong infrastructures that
make insights actionable. Even fewer (8%) are able to use their data
analytics programs to inform every customer touchpoint and interaction,
feeding back continuously into decision making across their entire
organization.

The findings indicate that companies struggle with coordinating their
customer data activation tools and capabilities. In the survey, only 6%
of companies have their customer data or analytics output activated
across multiple core functions in a coordinated manner, such as
marketing, customer service, sales, operations, and product development.
This highlights a potential missed opportunity to deploy actionable
insights throughout the business to deliver seamless interactions across
customer touchpoints.

Adam Corey, CMO at Tealium said: “There has been a surge in the amount
of customer data available in recent years, which is hugely valuable to
businesses across all sectors. However, the sheer volume of accessible
information and the issue of data silos can make it difficult for
organizations to collate, analyze, and utilize insights in a worthwhile
manner. It is clear from these findings that more support is needed for
businesses to get a handle of the data they collect and ensure they are
able to meet goals across the entire company – not just their marketing
function.

“To achieve genuine customer data maturity, companies need to plot a
deliberate course to success that addresses strategy, organization
structure, data, analytics and measurement, processes, and technology,
such as a Customer
Data Platform. Once companies have the right infrastructure in
place, they can truly harness the benefits of a clear data strategy to
drive success.”

The survey was conducted between July 2018 and January 2019. The survey
was conducted online with 330 customer intelligence leaders at
organizations in North America, Europe, and Japan.

View the full study here.

Note to Editor

Regional specific statistics are available on request for EMEA, US, and
Japan. Please contact [email protected]
for details.

About Tealium

Tealium revolutionizes today’s digital businesses with a universal
approach to customer data orchestration – spanning web, mobile, offline
and Internet of Things devices. With the power to unify customer data
into a single source of truth, Tealium offers a turnkey integration
ecosystem supporting more than 1,000 client-side and server-side vendors
and technologies. The Tealium Universal Data Hub encompasses tag
management, API hub, customer data platform, and data management
solutions that enable organizations to leverage real-time data to create
richer, more personalized digital experiences across every team,
technology, and customer touchpoint.

For more information, visit www.tealium.com.

¹ Customer Data Maturity Powers The Modern Enterprise, a
January 2019 commissioned study conducted by Forrester Consulting on
behalf of Tealium

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Company: GingerMay PR
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