Many organizations today are striving to become data-driven, as evidenced by the 94% of companies that believe data and analytics are essential to their growth. However, many marketers are missing out on the opportunity to leverage the data generated by their digital marketing teams, which could be a valuable asset for the entire business, especially sales and service teams. Unfortunately, data is often siloed in multiple platforms, which results in missed opportunities and a failure to streamline processes and align teams.
To unlock the value of digital marketing data, it is important to decentralize data and bring sales, marketing, and service teams closer together. Effective data management and a revenue operations (RevOps) framework that focuses on business alignment to drive revenue growth can be the key to achieving this.
Digital marketing data can empower sales and service teams by providing insights into existing customers, improving personalized experiences, and identifying upsell or cross-sell opportunities. Moreover, marketers can utilize buyer intent data to help sales teams reach prospects at the right time, on the right channels, with the right messaging when they are most intent on buying. Data can provide insights throughout the buyer journey, supporting everything from nurturing prospects and delighting existing customers to mapping personas and uncovering emerging trends.
RevOps is a forward-looking method that can help organizations establish an agile, data-driven framework throughout the entire customer lifecycle. By aligning marketing, sales, customer service, and executive functions, RevOps can help deliver a unified data strategy that supports an end-to-end perspective, which all teams need to grow revenue. However, quality data, the ability for teams to easily import data, a healthy marriage of internal and external data, and effective data management are crucial to the success of a RevOps framework.
Master data management (MDM) is also essential to making sense of marketing data. MDM is a tech-enabled discipline where IT and the wider business work together to ensure the uniformity, accuracy, stewardship, semantic consistency, and accountability of the enterprise’s official shared master data assets. Data is fundamental to MDM, but it is also a coalescence of people, processes, policies, and technology that transform data into insight. Therefore, it is important to have a clear roadmap to understand the current state of data in your business and the people, processes, and technology that underpin it.
Finally, partnerships can help organizations become truly data-driven. Expert partners with a rich track record of mastering data management and RevOps in their own organizations and for countless customers can provide the expertise needed to overcome the complexity of freeing up data flows to better support your organization.