STOCKHOLM, Oct. 2, 2023 /PRNewswire/ -- The rise of AI is revolutionizing the marketing industry and redrawing the map of how marketers work with data. In its second annual report, Marketing Data State of Play 2024, Funnel takes a deep dive into marketers' views on AI, the outlook for the marketing industry, and how marketers are racing to learn new skills to stay afloat in the sea of AI-driven transformation.
This year's Funnel report shows a lot of uncertainty running through the marketing industry. Nearly 2 in 3 marketers fear AI may replace their jobs in the next five years, and 3 in 4 say AI tools will impact their pay or value.
Additionally, Funnel's report shows that marketers are spending a lot of time on computational tasks, with about 63 % of marketers stating that they spend time on tasks that can be automated. For example, some respondents spend as much as 25 hours a month compiling reports.
While AI tools can help marketers automate the cleaning and organizing of data, according to Funnel's findings, certain marketing roles, such as account management, analytics, product marketing, and SEO, demand robust data skills. Data-savvy marketers who can identify anomalies, understand the full context and extract insights to make business-critical decisions will be better equipped to harness the potential of automation and AI. The report shows that marketers are taking charge and racing to learn new skills to keep up with the rapid evolution, with as many as 85% of respondents stating that they are updating their data skillsets due to AI.
"Marketers don't need to fear AI. Instead, they should focus on upskilling and figuring out how to use automation and AI tools to increase productivity. As the data-based AI transformation evolves, solid data skills will remain their greatest weapon. By automating menial and repetitive tasks and focusing on critical thinking, they can unlock their creative potential and keep delivering value in the evolving landscape," comments Per Made, CMO at Funnel.
Get more insights and read the full report here: link.
About the research
In our second-annual study, we examined how marketers are adjusting to an increasingly data-centric industry; for example, their biggest challenges are managing data, leveraging advanced AI tools and improving their skills.
We hope the insights will spark new ideas for marketers planning their 2024 strategies.
In total, 713 marketers completed the survey in May and June 2023; they represented a wide range of countries, company sizes, industries, and roles (see demographics attached). Twenty percent of respondents came from Funnel's database, and the rest came from an external panel of marketers. Ravn Research, an independent research firm, conducted the study.
If you have questions about the research or want to learn more, contact Christopher Van Mossevelde at email@example.com.
For more information, please contact:
Funnel is the marketing data hub that gives marketers business-ready data that makes sense. This means data that is clean, accurate and always up to date. The company's mission is to help marketers to become more data-driven. Funnel helps more than 2,000 customers grow their business - including digital leaders like Home Depot, Havas Media, Samsung and Adidas.
Funnel makes it easy to report marketing performance. It allows marketers to collect data from all platforms across the customer journey: advertising, analytics and CRM, transform the data with recommended and customizable rules, explore it to find new insights and send it to vizualisation apps or data warehouses. Real-time insights, whenever and wherever marketers need them. Read more at funnel.io.
The following files are available for download:
Funnel Marketing Data State of Play 2024
Funnel Marketing Data State of Play 2024 Demographics