Study Finds 100 Pct Singapore's Marketers, Agencies Confronted With Data Challenges

KUALA LUMPUR, Oct 3 (Bernama) -- Lotame, the global technology company that makes customer data smarter, faster, and easier to use for digital marketers, revealed in its new report that 100 per cent of marketers and agencies surveyed in Singapore encounter barriers in data orchestration and utilisation.

Fielded by Cint, its report ‘The State of Data Collaboration: A Global Perspective’ found that data challenges are ubiquitous, as is planned investment in marketing and data technology, with data collaboration platforms delivering multiple tangible benefits.

In a statement, Lotame Chief Executive Officer, Andy Monfried said orchestrating and activating data remains a major struggle for marketers and agencies, both inside and outside their organisations, but they are finally overcoming this barrier through a combination of technology and a shift in mindset.

The findings from the survey also showed that 78 per cent of respondents recognise the urgency of leveraging first-party data, which is eight per cent higher than the global average.

In addition, more than half (53 per cent) of marketers and a quarter of agencies are fully reliant on third-party cookies, and yet a portfolio approach to identity solutions has emerged, with an average of 3.1 options used in tandem to maximise reach with no clear frontrunner.

Furthermore, 34 per cent of respondents anticipate a reduction in programmatic spend compared to 28 per cent expecting an increase, though agencies are twice as optimistic as marketers.

Meanwhile, 99 per cent of respondents plan to adopt new marketing technologies and data technologies, with around a third of agencies and marketers not planning on retiring any of their current technologies in the near future.

The study highlighted that clean room adoption is strong, with three in five respondents currently using the technology. Respondents also, however, report a range of challenges, from lack of data overlap to ID scale and required expertise, with an average of 2.3 challenges reported.

Despite being a relatively new technology, data collaboration platforms have been adopted by almost two-thirds (64 per cent) of marketers and a third of agencies, with an average of 2.3 positive changes to marketing operations.

Lotame commissioned industry research into how marketers and agencies are addressing data challenges and opportunities in a post-cookie digital advertising landscape, surveying more than 1,200 marketing and agency professionals across six global markets, namely Singapore, Australia, Brazil, Mexico, the United Kingdom, and North America, between June and July.

-- BERNAMA