The importance of quality customer data for profitable marketing
Updated: Sep 3, 2020
In a recent report from Salesforce, the importance of customer data to successful marketing efforts was second only to global marketing transformation and use of new technology enablers.
Today, marketers are turning to even more complex combinations of data management technologies to build a cohesive understanding of their customers. The average number of data management tools used within the marketing function is six, which sits within the context of an average total number of 900 different applications within an enterprise, only 28% of which are integrated. It is difficult to see how the average IT department can enable this type of technology infrastructure in any meaningful way.
As customers’ circumstances and needs evolve rapidly, building a clear understanding of them is nothing short of essential. Seventy-eight per cent of marketers from the Salesforce research describe their customer engagement as data-driven. They expect to turn to an increasing number of data sources moving forward. Transactional data and known digital identities are particularly popular.
Nevertheless, few marketers are completely satisfied with their customer data, calling into question whether they can use it to its full potential. Data unification and activation among their top five challenges.
Once data is sourced, integrated, and managed, it is time for it to go to work. The value becomes apparent through correlations between accurate, timely and permissible structured and unstructured data unlocking useful insights.
If you would like to know more about how we can support your organisation to integrate, manage and segment your data for better customer outcomes, please get in touch.