Without having a unified record of data, marketers often lack a holistic vision of their investments, real-time insights, and over-all alignment across teams
Marketing organizations are facing pressure like never before. Many organizations are being forced to reconsider each aspect of the business model, motivating marketers to realign their strategies during implementation. All the while, marketing organizations, along with their marketing operations teams who support them, are struggling to handle their data to avoid making unprecedented moves.
Marketers in battle with data
When it comes to actionable data, marketers are up against three fundamental challenges. The first one is a lack of a unified view across all the marketing investments, their performance, and their results. Following this is the lack of real-time insights to enable ROI optimization in real-time.
And the last challenge is the lack of alignment and governance to drive cooperation across regions, teams, and stakeholders. Post COVID-19, these challenges are more pressing than ever, as businesses are trying to shift their strategy without having a clear view of their performance, investments, and ROI.
Too many data silos
The challenges outlined are often the result of siloed and disparate systems across not only the marketing organization but across the overall businesses at large. Marketing efforts range across various channels — social, paid ads, e-mail, etc. — without the resources or technology to expertly tie together the data coming in from multichannel campaigns. Meanwhile, teams handling diverse data sets are just as divided with business intelligence, marketing, customer service groups, and more all functioning within their individual silos.
Marketers need a transparent and holistic view to comprehend what campaigns are most effective, how their offers and content are performing, and how to realize all of their engagement.
Tying everything together
Data sets are divided into three categories —campaign objectives, implementation, and outcomes — marketers can easily exclude data that might overlap while focusing on data remains vital. Data modeling is crucial as it enables to stitch-up related processes together in one place.
Data modeling added to campaigns — allows achieving a much higher level to the overall strategies —aligning the data in an effective way to deliver measurable business outcomes.
Trust the data
Marketers get distracted easily by the influx of available data across different platforms and channels. To build out the data sets aligned to actual goals, marketers need to have a rock-solid grasp on the data that matters versus the data that lacks any real insight.
Once marketers are capable of distilling the data that will drive outcomes, they can take effective action, prioritizing the platforms that are affordable and scalable. Most importantly, all marketers need to trust the data. If the data proves a wrong assumption — no matter whose assumption it is — goes with the data and lean into what will work.