If data is the backbone of good marketing then data management is one of the most important marketing functions. In order to use customer information to the best of your ability, you must first be able to collect, analyze, and segment that data.
This management is crucial to a variety of key marketing goals. Just consider this: Ninety-seven percent of businesses in the U.S. look to effective data management to increase customer loyalty and improve sales , according to an Experian study reported on by Inc.
However, there are some roadblocks to really nailing the management of your data. In past posts we’ve outlined a few – from high volumes of data to a lack of data culture within companies. However, we have yet to address one of the biggest hurdles: integration.
“Effective data management can increase customer loyalty and improve customer sales.”
EMarketer reported on an IDG study that found nearly half of respondents have trouble integrating their analytics efforts with current procedures. This presents a major barrier when trying to unify data and make it meaningfully actionable. Without all the relevant data pieces, you won’t be able to create the most complete, accurate possible view of your customer’s actions and behaviors.
There needs to be a more fluid connection between disparate systems in order to avoid exposing existing customers to prospect promotions and ensure they are being offered relevant retention messages.
The heart of the problem is a language barrier between different marketing tech. Marketers have real difficulty getting their different systems to talk. The reasons for this disconnect vary – from costly integration processes to a lack of real-time data transfer to format readability. A mere 24 percent of executives claim their various communications and data-gathering systems are integrated or connected across their respective companies for these very reasons.
The ideal remedy to this issue is a simple and accessible translator for your tech systems – a platform that can function in real time and unify the languages to help combine the disparate data for more actionable and complete insights of website visitors. Without these translators, there is a major lack of integration between relevant data sources such as web and CRM which ultimately results in an inefficient use of data.
“Sound like a sweet deal? We agree.”
Customer data platforms provide a simple solution to this problem by linking together your disparate systems and allow you to collect the necessary data either directly or via integrations with other tools. From there, your data can be better managed in a more complete way. Instead of dealing with different systems for different devices and different customers your information exists in one platform. This frees up time that would have otherwise been spent connecting the dots – leaving you more room to make more meaningful marketing moves. And let’s be honest, who couldn’t use a little more time?
Sound like a sweet deal? We agree. To learn more about how a CDP can help integrate your marketing stacks for better data management, check out this post.