98% of marketers and agencies face data challenges, according to Lotame | Cint’s new global study, likely prompting widespread adoption of collaboration tools for solutions

Lotame, a global leader in customer data technology, has announced the release of its report titled “The State of Data Collaboration: A Global Perspective,” conducted by Cint. The survey, which included over 1,200 marketers and agency professionals from North America, the UK, Mexico, Brazil, Singapore, and Australia, sheds light on how the industry is adapting to the evolving data landscape.

• Key Trends in Data Collaboration:

  • The report indicates a growing reliance on data collaboration platforms, with 71% of marketers and 64% of agencies already utilizing them. This trend is set to continue, reflecting a shift towards more collaborative and flexible data technologies.
  • The top benefits identified by users of these platforms include audience targeting (44%), enhanced personalization (42%), and expanded reach (41%).

• Challenges in Data Management:

  • Despite the positive trends, marketers face significant challenges in unifying, managing, and activating digital marketing data. A staggering 98% of respondents reported encountering barriers, such as difficulty in finding quality partners and limitations with first-party data.
  • These challenges highlight the critical need for innovative solutions to streamline data processes and improve overall marketing effectiveness.

• Programmatic Spending Declines:

  • The report notes a concerning trend in programmatic spending, with 55% of marketers anticipating budget reductions in this area. This decline may impact how brands engage with their audiences and leverage data for effective targeting.

• Future Investments in Technology:

  • Looking ahead, 62% of marketers and agencies plan to adopt data collaboration platforms within the next six months to a year, indicating a strong commitment to technological investments that can address current challenges.
  • Additionally, 61% of agencies are focusing on data enrichment to enhance first-party data, while 52% of marketers are leveraging AI technologies.

• Expert Insights:

  • “The landscape is undergoing yet another significant transformation,” says Andy Monfried, CEO of Lotame. “Marketers are recognizing the barriers to engaging prospects amid an addressability gap and are embracing a collaborative approach to data.”
  • Laura Manning, SVP of Measurement at Cint, adds, “The findings reveal a range of strategies being adopted... As the industry continues to evolve, we see a growing emphasis on innovative solutions to enhance audience targeting, personalization, and overall data orchestration.”

Lotame's report underscores the critical role of data collaboration in navigating the challenges of the modern marketing landscape. As marketers and agencies continue to adapt to evolving technologies and consumer expectations, collaborative approaches will be essential for enhancing audience engagement and driving successful outcomes.