What’s Next for B2B Marketing Blog Series
Here are some quotes I’ve heard during my career as a marketer. Do any of these sound familiar?
- “I don’t know if customer support is actually updating key contact information during customer interactions.”
- “We have a contact title field but don’t use it for campaigns because we have over 10,000 different (unstandardized) titles.”
- “Our industry designations are assigned subjectively. One person’s business services is another’s software.”
The result? To start with, frustration. FRUSTRATION.
The promise of modern marketing is that we will know who our prospects are and when, where, and how to engage with them. Without accurate data, that promise is broken. And our hearts start to sink …
When we realize we can’t accurately execute that highly anticipated customer acquisition campaign we have planned, we have three choices: (1) Drop the campaign, (2) run a suboptimal campaign, or (3) engage other functional stakeholders in a brutally honest – and inevitably heated – conversation about mastering data.
Master Data is the foundational data elements – business identifiers, corporate hierarchies, segmentation categories, and other basic business data – that allows you to easily share, structure, match, and clean data across systems and processes.
By engaging with your sales and service teams that use similar customer and prospect data, you will be creating an opportunity for all to deliver the ultimate customer experience. This starts with becoming a “data steward” who advocates for one single source of truth and leads the charge to establish a common standardized data structure across your organization. We tackle this issue in the What’s Next for B2B Marketing magazine (see below).
With a Master Data program, one common source for all customer records becomes the foundation for customer-related activity, with departments from marketing, sales, and service working together with the same data.
The result? To end with, harmony. HARMONY.
Now your teams are aligned around the right information, giving them the opportunity to collaborate while creating more meaningful and effective customer experiences. Solid data, visible and accurate across silos, gives you the opportunity to create brilliant campaigns.
No longer do you have to worry about (mis)targeting customers as prospects, titles that don’t link to seniority, or industry data that is meaningless for campaigns.
The beauty of a Master Data program is that not only will marketing see increased ROI, but there are benefits to be gained across the organization. Sales gets better leads, service makes customers happier, and corporate decisions are more sound.
Interested in learning more?