Big data has changed the way marketing and sales teams engage with customers. It has changed the way that businesses market to their customers, which in turn, helps companies increase their profits. From our own research and case studies at Data Clarity, companies using personalised marketing and campaign optimisation increase sales around 40% – read more about that here.
Consumer data available to marketers is more extensive than ever before. Without a unified data platform however, the volume and complexity of marketing data can be difficult and time-consuming to manage, easily stopping you from discovering actionable insights.
For more on what unified data is, read our explainer article here.
Data gives business users eyes and ears into marketing and sales initiatives. It captures insights into prospects and customers at a level of detail previously impossible. This enables business users to respond to real-time audience actions and drive customer behaviour in the moment. Unified data insights are transforming marketing and sales in ways that were unachievable just a few years ago.
The success of big data and digital transformation initiatives will rely on a properly implemented data strategy to reach unified data. Without unified data for marketing and sales teams to work from, you will struggle to see a ROI for any data-driven initiatives.
Unified Data Use Cases
There are numerous ways you can implement a data strategy, in harmony with your IT teams, to adjust your sales and marketing strategy for the better and achieve a unified approach to data collection and management. Here are a few examples of how you can utilise a data strategy to increase marketing effectiveness and boost your sales.
- Big Data enables companies to generate a 360-degree view of their customers. This allows marketers to present customer-specific content when and where it is most effective to improve online and in-store brand recognition and recall – increasing marketing outreach effectiveness by 40%.
- Customer engagement, specifically how your customers view and interact with your brand, is a key factor in your marketing efforts. Big data analytics provides the business intelligence you need to bring about positive change, like improving existing products or increasing revenue per customer.
- Improved customer acquisition is another great benefit that implementing a data strategy brings to marketing and sales teams. A McKinsey survey found that “intensive users of customer analytics are 23 times more likely to clearly outperform their competitors in terms of new customer acquisition.” Implementing a consistent data strategy enables the gathering and analysis of consistent and personalized data from multiple sources, such as web, mobile applications, email, live chat, and even in-store interactions.
- Big data can help marketers leverage real-time data in cloud computing environments. The ability of big data to acquire, process, and analyse real-time data quickly and accurately enough to take immediate and effective action cannot be matched by any other technology. This is critical when analysing data in real-time.
Find out more about our marketing solutions here.
How to achieve Unified Data
Every business’ needs will be unique when designing and implementing a full data strategy with the goal of achieving unified data. Business leaders and sales and marketing teams will need to work closely with IT teams to ensure that every user can get access to the data that they need to succeed.
The first step will be to implement a data audit across departments to get a full picture of where your data is, who can access it and where challenges will be. You may decide that you have the capacity within your organisation to do this internally. Alternatively, you could ask external experts to come in and provide you with a full audit. The benefit of this approach is that you can leverage specific expertise to highlight areas that could be missed during an internal investigation.
Data Clarity conduct data audits for organisations to highlight the current capabilities, strengths, weaknesses and opportunities. If you would like to start your digital transformation journey, talk to our data experts today.