As a company, we’ve been hosting and building marketing database for over 40 years. It’s in our DNA. Combined with our rich data assets, we know what we’re doing when it comes to database marketing. In this post we'll discuss data management and integration and why it is the foundation to multichannel marketing.
While the following is not meant to be conclusive, it is a good way to start thinking about ways you can better utilize your marketing database. A majority of marketers think more about ways they can analyze and engage customers, but don’t always think about the underlying data architecture in which they will do the analysis from. Taking the necessary steps to ensure you have a data management process in place will help you to reach your customers in their moment of need.
Data quality is the foundation of any marketing program. You will not be able to perform any business intelligence or data analysis if the records you are working with are incomplete, inaccurate or old. Put a process in place that does the following:
Tip #1 - Work with a 3rd party service provider who has extensive experience in data management and make sure to regularly cleanse and update your files. Remember, data in today's world becomes obsolete at a much faster rate than it used to.
Similar to data management, data integration is a much more comprehensive process. When going through this process, make sure you are integrating the following:
Tip #2 - Do data integration, it's as simple as that. 10-25% of an organization's revenue, and as much as 50% of the typical IT budget may be spent in "information scrap and rework." So ensuring all of your information is in one place will make you a better marketer, and reduce costs associated with data.
Simply put, if you aren’t integrating all data from across your organization into a centralized repository, then you cannot properly and effectively analyze and target your customers.
While these two alone are not meant to be conclusive, they provide marketers the toolsets necessary to mitigate their exposure to revenue loss, by ensuring the data they are collecting and using to target audiences with is actionable.
For additional information on data management, check out "Big Data Management: Linking cross-channel data to your customer file"
Or, if you want to see how we can help with your data management needs, contact firstname.lastname@example.org to inquire about a data analysis.