Data-driven marketing is core to most marketers around the globe. In fact, 64 percent of senior executives consider data-driven marketing crucial to success in the competitive global marketplace, according to a report from Insights Report. For most marketers, the leading objective of data-driven marketing is to create personalized experiences for customers. According to a report by Ascend2 and ZoomInfo, marketers cited personalization, as well as the ability to measure success and target individual segments as high priorities when it comes to data-driven marketing.
While no one would argue about its importance, many marketers still struggle with success. Challenges with optimizing data when it lives across disconnected systems collected by varying internal teams whose goals are not always aligned, makes it easier said than done to reach the right customers, at the right time with the right message.
Data-driven marketing’s success depends largely on marketers having high quality, integrated data, which isn’t easy to achieve. According to the report, 64 percent of the marketers surveyed admitted that improving data quality is their most challenging obstacle, and 49 percent said that integrating data is the second biggest hurdle.
Data integration is challenging because oftentimes, different departments are working with different vendors to capture customer data with different goals in mind. As a mobile team works with its partners to achieve a specific goal, they may not realize that their colleagues in the advertising department are capturing web browsing data online.
Almost two out of three marketers admitted that the siloed nature of their organization prevents them from more effectively using data in marketing, according to Econsultancy and Adobe. The study also found that 70 percent of marketers say it is difficult to attract the right staff to take advantage of capabilities such as predictive analytics and audience amplification. The challenge comes from the top down, as 55 percent of those surveyed said that leadership isn’t willing to invest the time and money to overcome these data obstacles.
This lack of integration is preventing marketers from having a single customer view. The study also suggested 83 percent of marketers struggle with bringing data together to get the whole customer view. For B2B companies, not having a whole customer view is a waste of time and resources. In fact, failure to have a whole customer view often means that leads are slipping through the cracks. As one CEO told CMS Wire many B2B marketers are targeting the wrong companies. Eighty percent of leads don’t get followed up on… If you’re a B2B, you got to make sure the other B is one you want to sell to.
In addition, intent data can help B2B marketers target the right companies and the right person within the organization. By integrating intent data with account data, B2B marketers are better poised to understand their prospects and provide them with more personalized marketing experiences that will, in turn, drive conversions.
Marketers can overcome their data-driven issues in several ways. Aligning teams and creating company-wide goals can help overcome silo issues. Mining data and identifying the right channels they are using to target audiences can help ensure that the data is actionable. Ensuring data is accurate and continually testing will also help. Building out predictive models, creating buyer personas and identifying the right success metrics can also help marketers focus on the meaningful data, and therefore create a more customer-centric experience.