With 50% of Agencies Outsourcing Data and Citing it As a Critical Business Function, Data Quality Uniqueness and Data Validity Reign Supreme
SAN ANTONIO, June 30, 2021 – Offering greater clarity on how digital marketing agencies currently purchase and utilize data, Stirista today announced key findings from its Digital Marketing Agency Data Strategy Study, conducted in April 2021 by Thrive Analytics, a digital marketing research firm. Surveying 50 agencies in the adtech and martech landscape, the study revealed that one out of two agencies outsource their consumer and B2B data, and that data quality uniqueness and data validity are the most important aspects of purchasing and using data.
“Agencies and the brands they represent are increasingly tasked with delivering high quality campaigns with measurable and attributable results. However, from the very large agency holding companies to small boutique shops, data purchasing is a highly complex and often underestimated, siloed effort,” said Will Kunkel, VP of Marketing, Stirista. “As demonstrated in our study, an overwhelming majority of agencies believe that they should be served high quality and valid data, but they are increasingly uncertain whether they are actually receiving it.”
Leveraging Data Critical to Agency Success
Nearly two-thirds of surveyed agencies stated that leveraging data is a critical business imperative. Agencies also reported their greatest data needs lie in marketing strategy (52%), content creation (41%) and lead generation (39%). And almost 50 percent of agencies want account-based management (ABM) and more than one-third offer Connected TV (CTV) services today – demonstrating that accurate quality data is an acute requirement.
Data Quality Expectations High
In terms of pillars of data quality, agency respondents indicated data quality uniqueness (41%), validity (39%) and accuracy (33%) as the most important. Eight out of ten agencies also responded that they felt it is a realistic expectation that data quality providers meet their data quality expectations. When looking for data providers, the quality of data (79%), reputation of the provider (56%), and privacy/security of the data (54%) are leading drivers in decision-making.
Findings from the Digital Marketing Agency Study were derived from an online panel conducted by Thrive Analytics. Data was gathered between April 23 – April 30, 2021, from 150 professionals holding various titles at 50 U.S. advertising/marketing agencies.
Stirista is a data-driven marketing cloud that combines the power of authoritative identity data with the execution of omnichannel marketing. Through its data and customer-centric approach, Stirista is helping Fortune 500 and mid-market brands including Great Clips, Oracle and Verizon, among others, increase brand loyalty and acquire new customers. Stirista’s privacy compliant data insights helps clients interact with customers and prospects via digital, email and social channels. For more information, please visit www.stirista.com.