CMO's Unprepared for Data Explosion
In recent weeks there’s been much buzz about the role of metrics in today’s increasingly complex marketing world. With high consumer expectations and an explosion in engagement devices and channels, marketers today are faced with a sprawling matrix of disconnected figures to make sense of. Sure, some tools today provide a more consolidated view of figures, but still 71% of Chief Marketing Officers (CMOs) feel unprepared for the data explosion they face.
After sitting through several sessions at the Adobe Digital Marketing Summit last month, it became clear to me that there are two distinct camps in marketing. There are those that get it and have intricate systems in place to measure and act on the intelligence provided by multi-channel metrics, and those that view metrics as a check-box item on their list of requirements – something they know they need but they really don’t know how to leverage effectively.
Collecting metrics today means going beyond tracking the transaction and the business objectives. Solutions like Google Analytics do a good job in gathering and consolidating metrics to track conversions and aggregate data. However this is just the first step for success.
In order to leverage metrics strategically to create loyal and engaged clients, businesses need to look at creating consolidated, personal views of their customers that span channels. They need metrics that can come together to help paint a picture of the end-to-end client relationship and show how to better target messaging to drive engagement. More robust solutions, like the ones packaged under the Adobe Digital Marketing Suite, can provide this insight, but they still require expert implementation and know-how to extract the right figures and create this unified view.
Marketers need to find a way to break down the silos and connect the data sources today. Only then can they get a complete view of client interaction and transactions and leverage this data to build strong relationships. After all, it’s only going to get more complex as new engagement models and interaction channels emerge.