Making marketing the master of data

Today’s consumer expects every brand interaction to be seamless and tailored to their personal situation, whether that be in person or online.

Gartner predicts that by 2018, more than 50% of organisations will redirect their investments to customer-experience innovations. This shift in demand for an exceptional customer experience makes the role of the marketer that much more important.

Marketers are the ones that bring the customer closer to the C-suite and the business. However, are they equipped to meet these expectations?

Domo recently conducted a survey of marketing professionals which found that 82% of marketers said they rely on marketing data to do their jobs well, but only 55% have access to the marketing data they feel they need.

Additionally, 60% said they don’t think they can handle the volume of data that is available without feeling overwhelmed.

Why does this all matter and how can we help marketers in their day-to-day? By enabling marketers to be masters of their own data.

Marketers shouldn’t fear data, but see it as an opportunity to drive business outcomes and the overall customer experience. For the marketing function, accessing the right data at the right time enables three key outcomes:

1. Drive true business value
Marketers need to tie every single lead and customer back to the marketing initiative that created them – and ultimately, revenue. You need a big-picture view, one that involves tracking performance and gaining insights in real-time, so you know when it’s time to double down or change course.

2. Help realise value in the short term, and as part of a long-term strategy
You often need to strike a delicate balance between securing “quick wins” and contributing to the long-term strategy. When you can prove the ROI of smaller steps along the way, you build trust within the business and can have more sway in the boardroom.

3. Foster greater collaboration
Companies that prioritise collaboration are five times more likely to experience a considerable increase in employment, twice as likely to be profitable and twice as likely to outgrow competitors. Empowering team members with the right data makes it easier for them to succeed and find new opportunities.

The above provides marketers, as well as the business, with a single source of truth – a source to align the different functions of the business, act in real-time and better connect with your customers in more personalised ways.

By Paul Harapin, vice-president and general manager, Asia Pacific and Japan of Domo, Inc.