MMA India, part of MMA Global, the only not-for-profit marketing trade body, concluded the second edition of the Data Unplugged event on November 16th. The event was attended by top marketers in the industry and it also witnessed the unveiling of the second edition of the MMA Leveraging Consumer Data for Marketing 2022 report in partnership with EY.
The key topics that were discussed during the event included leveraging first-party data in a privacy-first world, balancing privacy and growth, big data and data strategy, and investing in data to accelerate business transformation among others.
The event was a powerhouse of insights into the complicated data-led world and how cracking this code can open numerous avenues for marketers to drive best-in-class strategies for their organizations. Eminent industry leaders of visionary companies like Google, Meta, LoReal, Microsoft, Maruti Suzuki, Nielsen, EY, Kantar, CDPI, ICICI, VServ, MFilterit, Caratlane were a part of discussions at the Data Unplugged.
Bhaskar Ramesh, Director Omnichannel, Google India and Board Member, MMA India said, “Building and maintaining direct relationships through responsibly gathered first-party data is the way to business growth in a privacy-first future. Privacy and performance need to co-exist and we have an opportunity to create new foundations that ensure the long-term viability of an open, ad-supported ecosystem”.
While unveiling the MMA EY Consumer Data report along with other dignitaries, Amiya Swarup, Partner, EY said, ‘’73% of marketers use either first-party or third-party data. They use data for location-based targeting and impression targeting. 78% of marketers saw a lift in marketing efficiency by leveraging data ‘’.
During the event, Moneka Khurana, Country Head & Board Member, MMA India said, “At MMA, we constantly strive to empower marketers with credible knowledge that can help them build winning strategies to achieve desired business outcomes. Data is now a significant part of the marketing budget and has increased in strategic importance. Today, data is the first step in driving modern marketing to its full efficiency. Hence, through the Data Unplugged event, we wanted to power marketers with the best understanding of the evolving data landscape so they can eventually drive better customer experiences. We hope the insights from the event help marketers in shaping better marketing strategies here on”.
According to Gaurav Anand, Chief Digital & Marketing Officer, L’oreal India, ‘’The best way to find future consumers is understanding your current consumers. The ability to predict demand is essential for any marketing campaigns. Data is one common thread across all these elements.’’
Shashank Srivastava, Senior Executive Director, Marketing and Sales, Maruti Suzuki, India further shared insights on leveraging first-party data in a privacy-first world and how data privacy is an evolving game.
Mitesh Desai, Head- Sales Excellence & Agency Relationships, HT Media Group spoke about, “Leveraging First-Party Data to Drive Brand Impact – A Publisher’s Perspective”, giving the audience an insight into HT Media’s first-hand experience with starting and scaling their own CDP as a part of their first-party data journey in 2022, and how it has given way to a sharp focus on audience-based conversations with their partner brands.
- 91% of marketers in 2022 vs. 82% in 2021, leveraged consumer data for marketing activities
- 78% of marketers in 2022 vs. 68% in 2021 saw a lift in marketing efficiencies due to leveraging consumer data
- Only 1 out of 3 marketers use consumer data for product development, cross-sell, and competitor analysis
- 71% of marketers had built either best-in-class or developed / outsourced martech capabilities in 2021 compared to 79% in 2022
- 60% of marketers had little /no integration of their 1P and third-party (3P) data with limited employee access in 2021 Vs 55% in 2022
Download the report here