As the country sets off fireworks to ring in Independence Day, it's time for marketers to secure their independence by freeing their data. This way, marketers will be able to use that data in ways that truly benefit their businesses.
As fireworks light up the skies to celebrate independence days in the U.S. and Canada, there's another movement afoot. It's time to liberate your data. As a marketing team, you need to declare independence by taking control of data to drive marketing programs.
Why is this so important? You know that data generated across digital platforms and other channels holds the keys to radical improvements in marketing results. But large volumes of marketing data are hosted by third-party vendors in propriety databases behind firewalls or otherwise scattered across data silos far too numerous to list here. This is data your organization may have generated in cross-platform marketing, and it's essential to knowing whether your marketing decisions lead to success. Yet it may be harder than you think to liberate that data in useable forms and formats.
Consider what's at stake. Sitecore, with First Point Research & Consulting, surveyed a group of marketing managers and Web developers to "uncover the realities of today's digital marketing landscape." Nearly three-quarters of these marketers surveyed plan to spend more money on digital marketing this year. And predictive analytics is at the top of the list of priorities for tools and techniques to analyze the data. Nonetheless, most marketers are measuring return on investment (ROI) primarily on the basis of website visits, a metric offering only the most superficial information about marketing success. Only 7 percent of marketers surveyed said their organization "aligned key performance indicators (KPIs) with the customer lifecycle across multiple channels."
Data and the analytical tools you use are the key to improving that alignment. Let's take a look at the steps required to get real marketing value from your data with the end-game of improving ROI:
Freedom comes in many forms, including the ability to use your own enterprise data in ways that truly benefit your business. So, isn't it time you think about how best to liberate your data to drive up your marketing effectiveness?
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Pelin Thorogood, a new media marketing and analytics expert, is chief executive (CEO) of Anametrix, an Ensighten company, which developed the first cloud-based, real-time marketing analytics platform. Her career as a high-tech innovator includes leading the go-to-market strategy as chief marketing officer (CMO) of WebSideStory (acquired by Omniture/Adobe), extending Peregrine Systems' enterprise software business (acquired by HP) into Web-based applications, and in the mid-1990s launching one of the very first mobile B2B applications. She was named one of the "20 Women to Watch" in sales lead management in 2011 and 2012. Pelin holds a B.S. in Operations Research, Masters in Engineering, and MBA degrees, all from Cornell University, where she also serves as Executive-in-Residence for the Johnson Graduate School of Management. Follow Pelin on Twitter @PelinT.
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