From apparel to appliances, and from food to furniture, electronics, machinery and everything in between, manufacturing in the U.S. and around the world continues to grow. Digital transformation and a desire to reduce supply chain complexity have resulted in many manufacturers developing capabilities for reaching customers directly. It could be the reason why by 2020, 60% of manufacturers will rely on digital platforms that will support as much as 30% of their overall revenue.

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Marketing organizations need to be data-savvy out of one obvious reason: because consumers are savvy and impatient – and not very loyal.

To get on par with your customers, it sometimes takes a great deal of change management. Based on experience, I have compiled the following list of how to create a data-savvy marketing organization.

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John Wannamaker’s more than 100-year-old outcry: “Half the money I spend on advertising is wasted; the trouble is I don't know which half” was true for a long time, but not anymore. Thanks to data-driven marketing and data-analytics tools, we are now in a much better position to determine our marketing ROI.

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As a marketing manager with the responsibility of qualifying leads and serving users with relevant content, CRM is your most valuable tool.

Of all customer data systems, your CRM should contain the most fine-grained view of your customers. There are some caveats, though. In order to address customers and users in the most relevant and personalized way, it's crucial to keep the data clean and trustworthy.

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We used to look forward to emails. When we received a “you’ve got mail” alert, we were eager to see who it was trying to communicate with us. Now, outside of work, most of us receive email overload and rarely want to open them. Vendors have it rough. If they want to engage with us, whether it be on the phone, by email or via the ads we see online, it better be worth our while. Consumers of today want personalized messages and offers, and if vendors can’t keep up with those demands, competitors are easily accessible and just a few clicks away.

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To reiterate what Tom Redman – aka the “Data Doc” – discussed in his Customer Data: Conquering the 360-View of Your Customerswebinar, the lifeline to business success lies in building customer loyalty and retention as they generate higher revenue. This seems self-explanatory; however, he went on to tell attendees that to achieve this loyalty, “… best-in-class organizations must have a complete 360-view of their customer data in order to respond accurately and intelligently to their customer demands, trends and expectations.”

As marketers, we are constantly challenged to create superior customer experiences that can leave a positive impact on the brand. That is no easy task because customer data and the related information needed to understand them is often located in disparate/siloed systems that prevent us from seeing the whole picture. Thanks to the explosion of the digital economy, we no longer need to convince the C-suite that a 360° customer view is necessary to provide the experience that consumers demand. The real challenge lies in creating that all-encompassing customer view, as a large majority struggle to establish this holistic view.

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In my previous post, I discussed the challenges of being a chief marketing officer (CMO) today. Whether your organization targets consumers or other businesses, your current and prospective customers are bombarded with more information from more numerous sources than ever before. And, I covered the first two of five top challenges that CMOs face (content and clarity) and how customer master data management (CMDM) can help overcome them. In this post, I cover the remaining three challenges.

 

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Being a chief marketing officer (CMO) today is one of the most challenging roles in the C-suite. Whether your organization targets consumers or other businesses, your current and prospective customers are bombarded with more information than ever before. And, the sources of information available to research their options are more numerous than at any time in history. Consequently, breaking through the noise to win customers, and then maintain their continued loyalty, can seem an impossibly daunting task.

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For any business initiative to be a success, it’s important that initial preparations and considerations are in place. That, of course, also applies to your master data management implementation. These are the initial steps you as a business should focus on to create the foundation for a successful master data management journey.

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Apple’s Steve Jobs famously said, “A lot of times people don’t know what they want until you show it to them,” and this couldn’t be truer when it comes to meeting the expectations of the hyper-connected customer. Today, they increasingly expect a personalized, relevant experience during every interaction with a company, regardless of the channel. This has led to the concept of personalization, or personalized marketing, which is a marketing strategy by which companies leverage data analysis and digital technology to deliver individualized messages and product offerings to current or prospective customers.

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