LiveRamp, in collaboration with research company, Censuswide have released findings from a new report investigating the role of data collaboration in understanding audiences.  Amidst the current economic climate, marketers are most concerned about “understanding the whole customer journey” (42%), rising from 26% in Q4 2022.

When asked what marketers consider to be the most important “metrics that matter”, brand awareness came out on top (58%), suggesting a shift in the value of brand marketing even during times of economic turbulence. This was followed by return on ad spend (45%) and category reach (39%), highlighting the importance of providing effectiveness. 

“The cost of living crisis is forcing consumers to feel the squeeze on their incomes, ultimately changing their buying habits. So while we’re gearing up for a hotly-competitive summer, marketers are prioritising getting to know their customers better and maintaining long-term, mutually-beneficial relationships”, comments Hugh Stevens, UK MD at LiveRamp. “Data collaboration is increasingly being recognised as a crucial element in the matchmaking process between brand and customer. A well-matched data partnership can provide a huge opportunity for greater addressability and measurement. Those that do not already have a mature data strategy will likely be playing catch-up with competitors. Marketers need to act now or risk falling behind.”

The report, Summer of Data Partnerships, explores the role of data collaboration in helping marketers romance their audience and examines priorities for marketers in the current climate. It includes contributions from Ollie Shayer, omni-media director at Boots, Sophie Strong, managing partner, joint head of media experience at PHD UK and more. Download the report here.  

*The research took place during November 2022 and May 2023 and surveyed 250 brand-side marketers in the UK (aged 18+, excl sole traders), consisting of middle/senior managers and business leaders. 

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