Marketing leaders in Europe have identified three key areas for improvement in the next 12 months: data integration, media optimization, and extracting valuable data-driven insights across various channels.
According to a recent study involving more than 200 senior marketing leaders in Europe, data integration is identified as the top priority for improvement in the next 12 months by half of the participants (49%). Following closely behind are media optimization (45%) and the extraction of relevant data signals across various channels (45%).
Top 3 areas for improvement, by country: Germany, France, United Kingdom (UK)
Although these general areas of focus remain consistent throughout Europe, there are notable variations when we delve into each specific country.
In Germany, the primary focus for improvement lies in "extracting relevant data signals across channels," with 58% of those interviewed indicating this as their top priority. Additionally, an almost equal number of participants plan to concentrate on data integration (56%). However, unlike the overall trend in Europe, the third most popular area for improvement among these CMOs in Germany is pricing optimization, with 50% emphasizing its significance.
In France, the landscape takes a different shape. While the extraction of relevant data signals still leads the way with 50% focusing on this, an almost equal number of marketers are directing their attention towards enhancing campaign optimization, conducting brand research, and analysing purchase data - all of which stand at a significant 48%.
In contrast, the United Kingdom is prioritizing pricing optimization and the generation of actionable insights as the two most popular areas for improvement. A significant 44% of the CMOs interviewed in the UK expressed their intention to enhance these two areas, while a nearly equal number, 42%, plan to concentrate on data integration.
"CMOs that can make the business case for adopting analytics and more innovative technology - and then make the most of it - will be in an enviable position. Those that can’t, will find themselves trapped in a cycle of reactive, short-term activity that erodes their margins and brand value over time." - Gonzalo Garcia Villanueva, global CMO at NielsenIQ.
Look out for our next article in this series, which explores the top barriers that Europe’s senior marketers are battling, in order to realize their full data and insight potential.