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

NEW YORK, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Lotame, the global technology company that makes customer data smarter, faster, and easier to use for digital marketers, today announced the release of, “The State of Data Collaboration: A Global Perspective” fielded by Cint. The report surveyed 1,200+ marketers and agency professionals across North America, the UK, Mexico, Brazil, Singapore, and Australia to assess how they are adapting to the evolving data landscape. It highlights the increasing reliance on data collaboration platforms, the impact of artificial intelligence, and new technologies to combat the growing addressability gap.

Despite persistent challenges in unifying, managing, and activating digital marketing data, there is a noticeable trend towards adopting collaborative and flexible data technologies to overcome these hurdles. The report highlights the importance of data collaboration platforms, with 71% of marketers and 64% of agencies already using them, and further adoption expected. These platforms offer several advantages, including audience targeting (the top benefit reported at 44%), enhanced personalization (42%) and expanded reach (41%) following closely.

“The landscape is undergoing yet another significant transformation, as marketers continue to recognize the blockers to engaging prospects amid an addressability gap,” says Andy Monfried, CEO of Lotame. “Orchestrating and activating data remains a major struggle for marketers and agencies, both inside and outside their organizations. 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 realizing that a rising tide lifts all boats and are embracing a collaborative approach to data — enabled by data collaboration platforms.”

Additional key findings from the report include:

• Data challenges are ubiquitous, with 98% of marketers and agencies citing some form of barrier, such as finding quality partners and limitations of first-party data.

• Programmatic spending showed a continued decline, with 55% of marketers anticipating a reduction as a result of budget allocations.

• Technological investments are set to surge, with 62% of marketers and agencies planning to adopt data collaboration platforms in the next 6 months to a year.

• When it comes to enhancing first-party data, 61% of agencies are tapping data enrichment while 52% of marketers are leaning into AI.