Technology investment set to surge in UK as 97% of marketers and agencies face data challenges, Lotame | Cint report reveals

Lotame
Lotame

In This Article:

‘The State of Data Collaboration: A Global Perspective’ finds strong support for collaborative data technologies

LONDON, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Lotame, the global technology company that makes customer data smarter, faster, and easier to use for digital marketers, today released findings from ‘The State of Data Collaboration: A Global Perspective’, a report on marketer and agency data challenges and the solutions they use, or plan to, fielded by Cint. The report found that data challenges are ubiquitous, as is planned investment in marketing and data technology, with data collaboration platforms delivering multiple tangible benefits.

A sample of more than 1,200 marketing and agency professionals in the UK, Australia, Brazil, Mexico, Singapore, and North America were surveyed between June and July 2024. The full global report can be downloaded here.

Key findings for the UK:

  • Data challenges are ubiquitous: 97% of marketers and agencies encounter barriers in data orchestration and utilisation. The primary struggles include finding quality sources/partners and dealing with the limitations of first-party data, which often fails to provide comprehensive insights.

  • First-party data a priority: 68% of respondents recognise the urgency of leveraging first-party data. However, the nature of this first-party data — primarily using unstable identifiers alone like email addresses and mobile IDs — exacerbates issues, leading many to consider data collaboration as a solution.

  • Ongoing reliance on third-party cookies: More than a third (36%) of marketers and more than a fifth (22%) of agencies are 100% reliant on third-party cookies. However, a portfolio approach to identity solutions has emerged, with an average of 2.8 options used in tandem to maximise reach with no clear frontrunner.

  • Programmatic spending continues to decline: 55% of marketers and 39% of agencies anticipate a reduction in programmatic spend. Surprisingly, spending forecasts are almost evenly split between walled gardens and the open web, despite the former being perceived as more attention-grabbing.

  • Technology investment set to surge: 99% of respondents plan to adopt new marketing technologies and 96% plan to adopt new data technologies.

  • Clean rooms face scrutiny: Technical challenges — particularly in data and analytics expertise and scaling with authenticated IDs — are leading to dissatisfaction in clean rooms’ capabilities, with agencies highlighting limited data collaboration functionalities.

  • Data collaboration platforms gain traction: Despite being a relatively new technology, data collaboration platforms are seeing high adoption and are delivering tangible outcomes, such as improved audience targeting and expanded reach.