In a European research, the consulting firm, Sopra Steria Consulting, surveyed marketing executives (CMOs) on what they consider to be the greatest challenges over the next three years. More than 80% of German managers mentioned protection of customer data in first place. The topics of Big Data (83%) and Mobility (76%) followed in second and third place respectively.
CMOs are currently above all collecting data on customer satisfaction and contact history (79% each). 73% of respondents stated that they store all available information on a customer. They use the data for customer support (almost 100%), selling products and services in a targeted way (98%), and in the development of new products and services (93%).
According to Lucie Dermentzoglou, CRM expert at Sopra Steria Consulting, the study also shows that managers should pay particular attention to data protection in the future; otherwise customers may very well increasingly refuse to agree to the use of their data. The Internet of Things (IoT) with its interconnected electricity meters and networked cars is likely to generate additional sources of digital marketing in the future. In 2011, however, a different study conducted by Sopra Steria had already shown that customers mistrust the security measures taken by public utility companies when it comes to the use of smart meters.