2 in 5 Singapore marketers struggle to keep up despite data advancements

Only 33% of organisations embrace data privacy strategies.

Whilst 44% of Singapore marketers expressed confidence in their strategies and abilities to manage the ongoing developments, nearly the same proportion (40%) admitted to struggling to keep up despite advancing their data strategies using tools at their disposal, according to a Yahoo DSP survey.

Reading industry news and blogs, as well as attending in-house training and actively testing different solutions were the top ways marketers in Singapore sought to keep up with the changes to identity and signal loss.

Yet despite various efforts to stay updated, marketers remain hesitant about fully embracing data privacy strategies.

The report noted that only 33% report that their organisations are fully aligned on such initiatives, reflecting a lack of collective urgency.

Moreover, 66% acknowledge gaps in fostering robust data culture practices, whilst 38% believe only some within their organisations truly understand and value the impact of data strategies.

One in four (25%) were also dissatisfied with what their brand’s data strategy compelled them to do or expressed that it was a rarely discussed topic, signalling deeper challenges in organisational mindset and prioritisation.

Furthermore, the report also highlighted that conversion remains the top KPI (47%) amongst Singapore marketers in their campaigns.

Two in five (40%) said accurate last ad exposure attribution would solve their biggest data challenge, 32% wished for a magic map that could help track user journeys and enhance user experience, whilst 38% said they prefer digging deeper to discover new audience insights.

Marketers in Singapore also remain interested in identity testing and multi-touch attribution, but there lies a gap between their outlook and actions, with 64% admitting that they refresh their key audience segments occasionally or less, whilst 20% admit to using the same strategy time after time.

“In Singapore where performance and conversions are prioritised, working with a dying user identifier such as cookies puts conversion strategies at risk,” said Dan Richardson, director of data and insights, AUSEA, Yahoo DSP.

"Unless they explore other identifiers and non-addressable solutions that include a mix of first-party data, ID-less targeting and modeled conversions, marketers in Singapore can expect to experience performance degradation in their campaigns as more consumers opt out of tracking,” Richardson added.