Manage Your Data Effectively for marketing success| Deck7

“Global marketing automation spending will reach $25 billion by 2023, implying a 14% annual growth rate,” a Forrester report.

The investment in marketing automation technology is increasing at an astounding rate. With the availability of modern technologies, it has become easier for marketers to automate their marketing processes for efficient management and to achieve in-time targets. Marketing automation has brought about a paradigm shift in the marketing methodologies with most marketers relying on it for implementing their marketing strategies.

Why Is the Success of Marketing Automation All about Data?

The 2016 MarTech Data Report, based on a survey of 400 US marketers and sales executives illustrates both the importance of data management for advanced marketing success, as well as inefficient handling and utilization of data. For example, the report found that the major problem for 49% of respondents using marketing automation platforms was of data hygiene issues, such as data scrubbing and de-duplication. In addition, 51% reported missing data contributed to data quality, while 55% were of the view that incorrect data was a key contributor to poor quality data. More than half of the respondents also reported data decay as a critical challenge, and 26% said wrong formats were causing issues.

Overall, data quality and management were the top two marketing technology challenges based on the report.

How to Effectively Manage Your Data - Marketing automation is solely dependent upon the accuracy, completeness, and validity of the data on which the automation tools will run! Outdated and inaccurate data, inconsistency in information and poorly integrated data may not align you with the core objectives of marketing automation, retarding the ability to create relevant, timely and engaging communications, and eventually impeding efforts to increase sales or business. So you have to manage your data effectively.

In the worst case, marketing processes driven by poor data quality can actually hamper customer relationships, as illustrated by various studies. 'According to one survey, 55% of respondents had been sent information about an irrelevant product by a business in the previous 12 months,' says Nigel Turner, Principal Consultant EMEA at Global Data Strategy. Data is a business asset, generated by business operations. Effective data management can bring about all possible business outcomes that the marketers are seeking for

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