5 Steps to Data-Driven Marketing

White Paper

Today, fewer than 10% of companies use their data in a systematic, strategic way. But that will change: 71% of marketers plan to implement a big data analytics solution in the next two years. As web analytics matures into digital analytics and the well-trusted techniques of database marketing are increasingly embraced by digital marketing, marketers are now able to exploit detailed data to gain individual customer understanding and drive better, more relevant customer interactions. However, the question remains: how will marketers make a successful transition towards true data-driven marketing? This Whitepaper outlines 5 steps that you can take to start implementing a successful data-driven marketing strategy today.

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The Data-Driven Climb

Everybody in marketing wants to be more data-driven. The general consensus is that the data we have is good, but that there is still plenty of data out there. Human nature being what it is, we want access to it. Despite all the effort, it seems like the moving target is always just out of reach. Lisa Arthur created this series of webcasts to help you maximize the use of your data. Speaking one-to-one, CMO-to-CMO, its intention is to help you become a more data-driven marketer, no matter what state of adoption or usage you currently have.

Step 1: Get Smart, Get Strategic

Stop the chaos. It’s time to bring the marketing department back into the enterprise fold and address the digital disruption happening around us. That will enable us to bridge the growing distance between marketers and customers.

Key Take-aways

  • Don’t skip the vision.
  • Technology is just an enabler.
  • Consider the five strategy points in your plan of attack:
  1. Customer Interaction.
  2. Analytics.
  3. Data.
  4. Organizational.
  5. Technology.

Step 2: Tear Down The Silos

Brace yourself – this is a big one. We have to eliminate the corporate silos so that data can be integrated across the entire organization. Starting with the marketing department – and including the CIO. It’s the only way to enable the interdepartmental collaboration and alignment we need in order to be data-driven.

Key Take-Aways

  • Start with the marketing department.
  • Address four required areas of departmental consolidation.
  1. Alignment of vision and objectives.
  2. Integration and consolidation of data.
  3. Unification of internal marketing department activities.
  4. Consolidation of systems and processes.
  • Get CMO-CIO alignment.

Step 3: Untangle the Data Hairball

Nobody likes hairballs. But it’s a relatable analogy to the complex, anxiety-producing mass of disconnected data that doesn’t provide any real value. The good news is that once you work out the tangles, you’ll find usable data. Of course, like in the real world, it will take some patience.

Key Take-Aways

  • Devise an eight-point plan that includes:
  1. Definition of the vision.
  2. Questions you need to answer.
  3. The right team.
  4. Identified data requirements.
  5. The sources of data you need.
  6. A single source of truth.
  7. Consolidation, integration, and iteration your data.
  8. Testing, expansion, and evolution.

Step 4: Make Metrics Your Mantra

Of course the reason you’re working to become more data-driven is to drive better outcomes for your organization. So don’t get lost in the data. Make sure that the metrics you consider are tied back to performance and the customer journey. That’s where the value is.

Key Take-Aways

  • Don’t get lost in the data.
  • Determine what to measure.
  • Align marketing and sales.
  • Learn what the C-suite wants.

Step 5: Process is the New Black

Don’t think process is sexy? Think again. If marketers don’t institute processes that take advantage of marketing technology and automation to collect, analyze, and act upon big data, their marketing efforts will fall short of expectations – and that’s not sexy. But achieving your goals sure is.

Key Take-Aways

  • Lead with Integrated Marketing Management (IMM) and Marketing Operations.
  • Focus on what makes you unique.
  • After campaigns: review, reprioritize and repeat.

Realizing the Data-Driven Goal

It can seem far away and unattainable, but through planning, discussions, collaboration and following these 5 steps, organizations can make the changes needed to achieve their data-driven goals.

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