Last week, Forrester Research published a report on the emergence of new vendors in B2B marketing data management. It got me thinking about how we as B2B marketers rely on data as our lifeblood. With the right data, we can better target and prospect new customers. We can understand how people are engaging with our company and make smart recommendations to our customers. With better data and more insights, we can begin to realize the promise of all this technology with recommendations and even AI as part of our marketing toolkit.
Improving data quality is a core task for any marketing team, but how do you think about your data management? Do you have a plan to evolve this core function? Or are you thinking more broadly about advanced capabilities – maybe even a customer data platform?
Data management is a messy business, and it can feel overwhelming. But here are a few guidelines that may prove helpful:
1) Keep the end in mind – a comprehensive and holistic account-centric view
I might be stating the obvious but don’t lose sight of the fact that we’re most effective as marketers when we have a 360-degree view of the account. When we know who’s interested and how they are already interacting with us, our effectiveness increases by an order of magnitude.
Many solution providers are purpose built as CDPs but don’t forget that there are technologies that enable an account-centric foundation as part of a broader set of capabilities (I’d be remiss if I didn’t mention Engagio here!)
2) Prioritize your goals and get started by keeping it simple
- Are you looking to increase marketing efficiency through higher quality data?
- Are you ready to take on insight-driven decisions?
- Are you hoping to consolidate and drive greater efficiency in your tech stack?
These are just of few of the questions you should try to answer for your business. It’s important to be honest about your current data management maturity. Even if you are just getting started, don’t let that scare you off.
3) Familiarize yourself with evolving technologies
The data management space continues to evolve. It’s important to understand what capabilities are available through various solution providers. A great place to start is by reviewing the Forrester Research report, New Tech: B2B Marketing Data Management Solutions, that got my gears turning. It highlights top emerging vendors and their business model: data provider vs. standalone CDP vs. embedded CDP. It also outlines how these different models align with the core capabilities we need in our MarTech stack. If you want to talk to an ABM expert to walk through some solutions, get in touch with us today.
With these emerging technologies, it seems like 2019 might be the year to become all about the data. Good luck!