'The State of Data Collaboration: A Global Perspective' finds strong support for collaborative data technologies
LONDON, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Lotame, the global technology company that makes customer data smarter, faster, and easier to use for digital marketers, today released findings from 'The State of Data Collaboration: A Global Perspective', a report on marketer and agency data challenges and the solutions they use, or plan to, fielded by Cint. The report found that data challenges are ubiquitous, as is planned investment in marketing and data technology, with data collaboration platforms delivering multiple tangible benefits.
A sample of more than 1,200 marketing and agency professionals in the UK, Australia, Brazil, Mexico, Singapore, and North America were surveyed between June and July 2024. The full global report can be downloaded here.
Key findings for the UK:
- Data challenges are ubiquitous: 97% of marketers and agencies encounter barriers in data orchestration and utilisation. The primary struggles include finding quality sources/partners and dealing with the limitations of first-party data, which often fails to provide comprehensive insights.
- First-party data a priority: 68% of respondents recognise the urgency of leveraging first-party data. However, the nature of this first-party data - primarily using unstable identifiers alone like email addresses and mobile IDs - exacerbates issues, leading many to consider data collaboration as a solution.
- Ongoing reliance on third-party cookies: More than a third (36%) of marketers and more than a fifth (22%) of agencies are 100% reliant on third-party cookies. However, a portfolio approach to identity solutions has emerged, with an average of 2.8 options used in tandem to maximise reach with no clear frontrunner.
- Programmatic spending continues to decline: 55% of marketers and 39% of agencies anticipate a reduction in programmatic spend. Surprisingly, spending forecasts are almost evenly split between walled gardens and the open web, despite the former being perceived as more attention-grabbing.
- Technology investment set to surge: 99% of respondents plan to adopt new marketing technologies and 96% plan to adopt new data technologies.
- Clean rooms face scrutiny: Technical challenges - particularly in data and analytics expertise and scaling with authenticated IDs - are leading to dissatisfaction in clean rooms' capabilities, with agencies highlighting limited data collaboration functionalities.
- Data collaboration platforms gain traction: Despite being a relatively new technology, data collaboration platforms are seeing high adoption and are delivering tangible outcomes, such as improved audience targeting and expanded reach.
Commenting on the report, Andy Monfried, CEO from Lotame said: "Orchestrating and activating data remains a major struggle for marketers and agencies, both inside and outside their organisations. However, they are finally overcoming this barrier through a combination of technology and shift in mindset. Rather than becoming mini walled gardens, marketers and agencies are realising that a rising tide lifts all boats and are embracing a collaborative approach to data - enabled by data collaboration platforms."
"This research offers a deeper view of how marketers and agencies are navigating the current advertising challenges," says Laura Manning, SVP, Measurement at Cint. "The findings reveal a range of strategies being adopted, from addressing limitations in first-party data to exploring new technologies like data collaboration platforms. As the industry continues to evolve, we see a growing emphasis on innovative solutions to enhance audience targeting, personalisation, and overall data orchestration and activation - all of which ultimately benefits the end consumer."
Methodology
Lotame commissioned industry research into how marketers and agencies are addressing data challenges and opportunities in a post-cookie digital advertising landscape. Cint, a digital insights and research technology leader conducted the global online survey. Cint surveyed more than 1,200 industry professionals, marketers and agencies, across six global markets in June-July 2024: UK, Australia, Brazil, Mexico, Singapore, and North America.
The survey asked key questions tailored to marketers and agencies and joint questions, to look at:
- The state of data with and without cookies
- Advertising investment in walled gardens vs. open web
- Evolution of a next-gen tech stack
- Data collaboration understanding and penetration
About Lotame
Lotame is a technology company that makes customer data smarter, faster, and easier to use for digital marketers. Our end-to-end data collaboration platform empowers marketers, agencies, and media owners to access, analyze, and activate the data they need to understand and engage consumers. Our proven commitment to industry interoperability, connectivity, and privacy help drive successful business outcomes for companies on their terms. Lotame is headquartered in the United States and serves global clients in North America, Latin America, Europe, Middle East, Africa, and Asia Pacific.
Lotame and related logos are registered trademarks or trademarks owned by Lotame Solutions, Inc. in the U.S. and/or other countries. All Rights Reserved.
About Cint
Cintis a pioneer in Research Technology (ResTech). Our platform, The Cint Exchange, is the world's largest sample marketplace for digital market research. Our customers use the Cint Exchange to post survey questions and get answers from over 335 million people across 130 countries who have consented to share their opinions, motivations, and behaviors for incentives. They then use these answers to build business strategies, confidentially publish research, accurately measure the impact of digital advertising, and so much more. Essentially, we are feeding the world's curiosity.
Cint Group AB (publ), listed on Nasdaq Stockholm (STO: CINT), has a global workforce of over 1000. Cint has offices in Stockholm, London, New York, New Orleans, Singapore, Gurgaon, and Sydney, among other locations.
