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Data Management Tools for Marketing 2021
Companies have tried to fix this problem. Engagio tried and didn’t quite get there before being acquired, which is a good indication that you can’t put a dashboard on top of junk data. Even Salesforce has spent years trying to address this problem. The latest version of a solution is Customer 360, but with limited scope so far only time will tell if this solution actually works.
What we’re left with, then, is a big problem: how much can we really trust our data? And if Salesforce couldn’t fix this problem, who can? I believe there are several things it will take to be successful. In fact, Gartner recently released a Market Guide on Customer Data Management Platforms, explaining four characteristics any data platform needs to meet in order to be effective. I think these are the principles that will help us solve the data management problem:
It must be data agnostic. This means it has to be able to consume all kinds of data at the account level and person level. Go-to-market teams need to know more than just a company’s revenue or industry, and a contacts email address. They need to know what technology is in use at that company, how an account is related to a global corporation or another business unit, and if they’re a buying center. They also need to have a view of the types of interactions that might have occured recently with other parts of the business, what content they may have downloaded, and which other stakeholders are involved.
If we can’t get that level of understanding, we won’t get anywhere with ABM; it will be little more than a novel way of doing brand awareness advertising. If an organization has only 100 accounts, an orchestrated experience might be manageable. But if an organization has 10, 000 accounts that are represented by 100’s of thousands of different records in siloed systems, things start breaking down quickly.
For more such updates, check Out recent Martech Cube blogs.
https://www.martechcube.com/as-long-as-data-management-is-broken-so-are-most-marketing-tools/
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