In this increasingly technology-driven era, marketers have more tools at their disposal than ever before as they look to collect more data and discover more insights about their client bases.This infiltration of data is partly due to the new cross-channel environment. Every company is working through multiple channels, from social media to company websites. These channels are supposed to work together to help meet the client’s needs when and where they want to connect. But the cross-channel environment also feeds in valuable consumer insight that can be utilized to give companies a competitive advantage.
This sounds great, but it can also be overwhelming. With so much data, it can be hard to figure out how information from different channels can be brought together to produce results.
Marketers are left asking themselves how to juggle all these outlets. How do they leverage them all to find the best data?
The Drum recently reported on this phenomenon, citing survey data from data sharing firm TagMan. The company found that 35% of marketers still think it’s a “huge challenge” to understand how different channels work together.
It all comes down to a lack of confidence. In TagMan’s study, 59% of respondents said they believe the movement could have a real impact on their bottom lines, yet 36% admitted they still do not understand it.
“The aim of the study was to drill down into what brand marketers really think about how their jobs have changed, and it has uncovered some incredibly surprising results,” TagMan CEO Jon Baron said. “Being able to understand what ROI your marketing spending is generating should be at the heart of a digital marketer’s focus, giving them the ability to interpret, value and respond to the data available to them.”
It’s clear at this point that simply spending more money on data-driven marketing is no longer enough. Companies must also be willing to invest their time, effort and intellectual capital into understanding the technology and the goals they want to achieve from better utilizing data.
Marketers also need to keep in mind that a lack of understanding for various marketing channels is likely to lead to trouble with data quality. If companies are unable to effectively manage their various avenues for customer communications, they’re likely to collect inaccurate information from consumers.
This inaccurate data can lead to duplicate accounts and an incomplete understanding of an individual customer. The huge importance being placed on data and analytics makes it key for organizations to remember data quality as they gather information across channels and aggregate it for analysis.
To learn more about data quality and big data initiatives, download the Experian QAS webinar ‘Ensuring data quality in your big data initiative’.
Learn more about the author, Erin Haselkorn