Centralizing Your Marketing Data
Marketers today find themselves replete with data but without any meaningful insights about that data. Research from Gartner shows that only about one-third of CMOs prioritize marketing ROI. Barely half of CMOs report even employ marketing technology. Though marketers have never seen so much useful data, companies often miss what's holding them back from data-driven marketing.
According to MarTechAdvisor, there are 5 main reasons why companies must centralize their marketing data to connect reality to their vision of data-driven marketing.
- It reduces reporting time by 80-90%. Less time spent compiling reports for review opens up vital time for strategic decision making.
- Centralizing data can free up close to 30% of a marketing budget. Inefficiencies are most visible from a holistic analytical perspective, making solutions more obvious and more effective.
- Marketers are a team, and working from the same playbook allows for seamless customer experiences in-sync with their brand journey. Customer expectations are at an all-time high and they notice inconsistencies.
- For digital brands, centralized data is the core of your marketing team's 3-5 year plan. Spend less time organizing and more time marketing. A deeper and more connected understanding of processes like supply chains can aid marketers in both forecasting and troubleshooting long term strategies.
- The path to a data-driven culture is paved with centralized data. Data is an asset, not an obstacle, that must be optimized. Decentralized, disorganized data is the primary obstacle holding
Check out the article from MarTech Advisor here!
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