Add Data Operations to Accelerate Your Revenue Marketing Journey
In last month’s blog post, we discussed the second of the five core marketing processes essential to effective and efficient marketing operations — the reporting and analytics process. We ended by asking if you were a data-driven decision-making organization. So it is timely that this month we discuss the marketing process as it relates to data.
On your revenue marketing journey, if content is the fuel, and analytics is your dashboard, then data are surely the wheels and tires on your marketing vehicle. There’s an adage in auto racing that races are won in the pits, and the tire changes that happen there affect the race strategy and must be suited to the course. Similarly, your data will dictate where you can go, and how fast you can get there. It will be impossible to become a data-driven decision making organization if the data quality or richness is poor. Having a resource in marketing who is responsible for data operations is becoming a requirement for successful marketing.
Marketing data is fragmented and getting more so every day Research by Experian uncovered that 84 percent of organizations are experiencing data quality issues. During the same period Gartner predicted that by 2017 89 percent of businesses will compete mainly on customer experience. Compounding these issues is the explosion in marketing technologies, which further fragments data. In addition, Lyris tells us that 25 percent to 33 percent of email addresses in a house database will become outdated every year. “Houston, we have a problem.” So the importance of clean data is increasing while at the same time only 16 percent of organizations think their data is clean. Clearly, marketing organizations need to act. You need a data strategy and the resources to execute on it.
Setting Goals for Data Operations
We all want to improve the customer experience, improve engagement with customers through many channels, improve business intelligence and streamline operations, but we cannot reach these goals without addressing data challenges.
Kevin Joyce is CMO and VP of strategy services for The Pedowitz Group. He's a marketing executive with 34 years of experience in high tech, in positions in engineering, marketing, and sales. In the past 16 years Mr. Joyce has worked with many companies on their revenue marketing and demand generation strategies. With a unique combination of marketing skills and sales experience he helps bridge the gap between sales and marketing.
Mr. Joyce has successfully launched numerous products and services as a Director of Product Marketing at Sequent, as a Director of Sales at IBM, as Vice President of Marketing at Unicru, and as CEO at Rubicon Marketing Group. He has been VP of Marketing Strategy with the Pedowitz Group for more than six years. He holds a BS in Engineering from the University of Limerick, Ireland and a MBA from the University of Portland. Connect with Kevin on LinkedIn or email him at email@example.com. Download TPG’s new white paper: Introduction to the Revenue Marketing Center of Excellence here.