This is part 2 of a 4 part series of blogs on trends that focus on how data management is impacting the role of the CMO and marketing. Check out part one in the series here.
Engagement via social media channels can provide startling and often immediate feedback from our most well considered customer interactions. We need look no further than the 2015 Super Bowl and Nationwide Insurance's ad campaign for a very real example. The feedback from the ad was immediate, and to the detriment of Nationwide - all negative.
Ten years ago, the seething negative opinions of consumers would have festered for days and weeks while more traditional means of gathering feedback were measured. But on Super Bowl Sunday, Nationwide understood perfectly how this interaction impacted its customers and potential market - resulting in Nationwide pulling the ad immediately.
Yet access to customer feedback and data doesn't always happen as quickly as we would like. More often than we want to admit, it is only in retrospect that we discover we made assumptions about our customers that turn out to be untrue.
Just as stewards and analysts now expertly utilize business intelligence and social listening tools, Data Management solutions are now starting to be used by marketers to quickly validate and monitor results from marketing programs and campaigns. From identifying less complex customer duplications, to the more complex visualization of touch points that yield a consumers' path to purchase, Self Service Discovery greatly shortens feedback time needed to adjust strategic programs, which can accelerate funnel movement.
By its very nature, Self Service Discovery puts the power of access, analysis, validation and monitoring in the hands of those who can more immediately affect outcomes – marketing subject matter experts.
Data management, long thought to be the preserve of the IT organization, has matured to a place where it is no longer considered just infrastructure. The Chief Data Officer, Chief Marketing Officer and Chief Knowledge Officer have all earned seats at the table based on how they have maximized and monetized the value of data to exploit or create markets.
Marketers and business analysts have an increasing need to evaluate and shape the buying criteria for data management solutions that affect how they execute their jobs.
Self-Service, in all facets of data management, is evolving (and will continue to evolve) into a mandatory requirement for marketers and subject matter experts for targeting, segmenting, campaigns management, and customer engagement in order to ensure more impactful customer interactions and improved customer experiences.
Next week: the role of Chief Data Officers.
SVP and Chief Marketing Officer, Trillium Software
Len has been with Harte-Hanks for thirteen years and has more than fifteen years experience selling and marketing high-technology solutions. He is responsible for the strategic development and execution of worldwide marketing initiatives for Trillium Software. He created the Trillium Software System® brand that has been recognized as one of the top enterprise solutions in the data quality industry. Prior to coming to Harte-Hanks Trillium Software, Mr. Dubois was a Marketing Manager for Epsilon Data Management, Inc. He has spoken at Data Quality conferences in both the U.S. and UK. In addition, he has authored many articles on Data Quality and CRM.