SINGAPORE: In the fast-paced world of digital marketing, data-driven strategies are becoming increasingly crucial for businesses looking to stay competitive.
However, a recent study by Yahoo Singapore’s Digital Marketers Pulse, featured by the Singapore Business Review, has highlighted a gap between marketers’ desire for data and their ability to leverage it fully.
The survey, which polled 181 marketing professionals in Singapore, revealed that 85% of respondents strongly desired more data-driven marketing.
Despite this enthusiasm, many are facing significant hurdles.
A notable 73% of marketers voiced concerns about data privacy, signal loss, and identity constraints—challenges becoming more pronounced in today’s increasingly regulated and fragmented digital environment.
Underutilization of first-party and offline data
While marketers understand the importance of utilizing customer data, the study uncovered an underutilization of valuable resources.
Only 21% of respondents reported fully leveraging online first-party customer data, which is often seen as the most reliable and privacy-compliant data type.
Even more striking, just 11% are effectively tapping into offline customer data, which remains an untapped goldmine for many businesses looking to bridge the gap between online and offline experiences.
Further compounding this issue, many marketers admitted they are only “somewhat” utilizing these data types.
About 70% said they use online first-party data to a limited extent. In comparison, 72% acknowledged only partial usage of offline customer data—critical for successful omnichannel marketing efforts.
Omnichannel adoption: A work in progress
As businesses aim for a more integrated customer experience across multiple touchpoints, the study also explored the adoption of omnichannel strategies.
Although 42% of marketers indicated interest in implementing omnichannel approaches, the actual integration is still in its early stages.
Mobile channels led the charge, with 39% of respondents identifying mobile as their primary platform of choice for reaching customers.
Dan Richardson, Director of Data and Insights at Yahoo DSP, pointed out that while Singaporean marketers understand the value of data in driving customer connections, many are still struggling to unlock their full potential.
“In a landscape marked by rapid change, limited resources, and evolving expertise, marketers need to find the right technology and partners to help activate their first-party data effectively, enabling them to enhance targeting and omnichannel strategies,” he said.
The road ahead
The study highlights a clear opportunity for marketers in Singapore: the need to adopt data-driven approaches and unlock the full potential of both first-party and offline data.
As the industry grapples with privacy concerns and the complexity of data integration, leveraging the right tools and partnerships will be essential for success.
With the right strategies in place, marketers in Singapore could drive more personalized, omnichannel experiences that resonate with their customers—ultimately making data a key asset in their marketing playbook.