Report Highlights the Importance of Diverse Data Sources for Successful Audience Development.
Tampa, FL – May 14, 2024 – Porch Group Media, today announced the findings of The 2024 B2C Marketing Audience Building Research Report, which highlights the importance of leveraging data- to build high-performing target audiences in 2024.
Porch Group Media, in partnership with Ascend2, fielded a custom online questionnaire to survey over 350 U.S. marketing professionals working for Business-to-Consumer (B2C) or Direct-to-Consumer (D2C) in February 2024. The survey respondents represent decision-makers of managers and above at organizations with over $25M in revenue.
“Data diversification is key to successful marketing strategies in 2024,” said Michelle Taves, VP and Group GM at Porch Group Media. “With cookie deprecation on the horizon, marketers must embrace an all-party data strategy to better understand their audiences, hyper-personalize campaigns, and deliver more relevant customer experiences.”
According to the research, the vast majority of B2C marketers are incorporating multiple types of data in their data strategy. More than nine out of ten B2C marketers report using first-party data in their strategy, and 84% of those surveyed use second-party data to some extent. About two-thirds of B2Cs use third-party (67%) and zero-party (65%) data to build customer audiences
Additional key insights from the study include:
- Data Challenges Hindering Success: A staggering 67% of surveyed B2C marketers express feeling held back from meeting their key objectives due to challenges with data.
- Confidence in Data Types and Sources: Marketers who exhibit the highest confidence in the data types and sources used to build audiences are 5.5 times more likely to have very effective data-driven strategies compared to their less confident counterparts (89% vs. 16%).
- Diversity of Data Sources Drives Success: The diversity of data sources directly correlates with success in audience segmentation and personalized messaging. Marketers with the strongest ability to segment their audience use more data sources, including social media, mobile app data, point of sales information, and various third-party data types.
According to Larisa Bedgood, Head of Marketing at Porch Group Media, “Our research findings prove that effective audience building relies heavily on a strong data foundation, which is built from diverse sources. Marketers with the most successful data strategies leverage eight or more data sources, significantly more than those with less effective approaches.”
Access the full report here.
About Porch Group Media
Porch Group Media is a leading provider of comprehensive audience, activation, and attribution solutions designed to create a competitive edge in today’s evolving landscape. With a deep history and expertise in first-party data management and audience creation, Porch Group Media specializes in new movers, homebuyers, and property insights, along with providing consumer segments, shopping intent, and automotive audiences. For more information, visit porchgroupmedia.com.
