In any business, knowledge is power. What better way to increase your knowledge than studying your organization's data? Sounds obvious enough, right?
Actually, it's not as obvious as it seems. In fact, only 50% of marketers routinely apply data-driven marketing to individualize marketing messages and offers to enhance the customer experience.
With data-driven marketing, marketers can change the conversation at the executive table. Data gives them the ability to analyze and share actionable insights, confirming their value as a business partner.
Among the information data enables marketers to accurately deliver to executives:
- What's working
- What's not
- How much it costs for the results achieved
However, to capture such valuable information, you must have the right tools in place. The key to successful data-driven marketing is to have an integrated marketing automation platform (MAP) and customer relationship management (CRM) solution to accurately track your ROI and identify the opportunities influenced by marketing.
Although the data has been accessible for some time, the initiative fueling the focus on data-driven marketing is becoming more and more relevant; 69% of marketers anticipate stepping up their use of data-driven marketing over the next three years. Accordingly, the need for a position within the organization that solely focuses on analyzing data is in high demand.
A few years ago, the Harvard Business Review actually claimed that "data scientist" is the sexiest job of the century. Data scientists—high-ranking professionals with the training to make discoveries in the world of big data—are quickly becoming new key players in organizations.
To put it into perspective: high-quality data fuels data-driven marketing success, and marketers need quality data to orchestrate an exceptional customer experience at every touchpoint.