5 Features Required of Data Driven Marketing Tools

Data driven marketing has become essential within the modern marketing climate. This strategy allows marketers to leverage big data to research consumer trends and preferences. These insights can then be used because the building blocks for successful, well-targeted marketing campaigns.

Marketers often use data driven tools like marketing analytics dashboards and business intelligence platforms to tell their campaigns. Through these tools, marketers can analyze data efficiently and make useful business insights.

However, many marketers are acquiring tools without fully evaluating their potential. This either leads to unwise purchasing decisions, or under-utilization of useful features. Currently, Gartner estimates that the typical organization deploys 18 differing types of selling technology, but are only using 61 percent of the capabilities contained within the stack. At an equivalent time, they're marred by redundant software which will cause inefficiencies and increase marketing technology related costs.

This can be avoided by revamping your marketing technology stack to incorporate tools with a couple of key competencies. By keeping these competencies in mind while purchasing, marketers will enjoy many benefits, including a far better customer experience, a positive brand perception, and improved deciding . Let’s take a glance at the standards that effective data driven marketing tools should have.

Essential Features of Data Driven Marketing Tools

Did you recognize that technology accounts for 29 percent of a marketing team’s overall expenses? Although marketing technology provides a boon for marketing teams, it's far too common for teams to seek out themselves with a posh , expensive marketing stack.

Due to the niche needs of certain businesses, marketers often purchase multiple data driven marketing tools with overlapping capabilities. While this example is usually inevitable, marketers should attempt to control the sprawl of their software portfolio by reducing redundancies where possible. To help in purchasing the proper data driven tools, search for the subsequent features:

Data Quality Assurance

Marketers have an awesome number of knowledge sources – and its exceedingly important to make sure that the info from these sources is top quality . This includes verifying that your data follows basic data quality dimensions, including being accurate, consistent, timely, and more.

While there’s some legwork to making sure data quality - like collecting data from a reputable vendor, or ensuring that the info is during a standardized format – a knowledge driven marketing tool should provide basic data quality assurance measures. This can help make sure that your campaigns are properly targeted from the outset, and help marketing managers and therefore the C-suite make informed decisions.

Real Time Insights

In the past, it had been acceptable for marketers to guage marketing campaigns within the weeks or months following its launch. Today, marketers got to react far more quickly to campaign feedback. The most effective data driven marketing tools provide the power to research and optimize campaigns while they’re in motion. This enables marketers to perfect their targeting as they continuously collect first-party customer data.

Real time insights are often facilitated by automated data feeds between a tool and sources like an organization’s internal database, social media accounts, or SEM platforms. This information is captured and fed into a dashboard at the instant that its acquired, ensuring that data is as timely as possible. However, collecting real-time insights often creates a torrent of knowledge , therefore the best tools will provide data visualization, helping marketers understand their initiatives at a look .

Data Integration

When multiple data driven technologies are getting used , there’s an opportunity that data silos will form. These data silos contain information that only one department is aware about , which makes it difficult for marketing departments to properly analyze each piece of relevant data. This could end in disjointed experiences across the whole organization.

Marketers should determine the amount and kinds of knowledge sources they have to integrate before purchasing a knowledge driven marketing tool. This would help make sure that their unique data integration needs are met. Otherwise, they'll find yourself stuck within the time consuming endeavor of cleaning and integrating data from multiple platforms manually. With 52 percent of selling teams claiming that integrating data is one among their most time consuming activities, marketers should attempt to avoid poor integration from the outset.

Processing Power and Data Storage

With marketers leveraging more data than ever before, it's important to make sure that their marketing tools are ready to process and store large volumes of knowledge . This is often very true for cloud-based tools, as they often either provide limited storage, or may charge exorbitant rates for cloud processing and storage. Most of all, make sure that your data is stored during a secure, protected location.

These tools should also process data at an inexpensive speed, so marketers aren't waiting hours or days to look at their insights. Best-in-class tools will provide capabilities like data streams, which can consistently feed data into the tool, allowing organizations to make visualizations on demand.

Unified Measurement

Marketing data are often incredibly varied and sophisticated , and may enter the organization from many various sources. Many campaigns have touchpoints that are both online and offline, which may be a challenge for several data driven tools to live . However, poorly measuring either online or offline campaigns may result in blind spots which will lead entire campaigns astray.

Marketers should hunt down tools which will capture data from multiple sources during a consistent format, allowing the data to efficiently be consumed and processed by analytics tools. This approach, called unified marketing measurement, will make sure that all first party data is being analyzed correctly.

Final Thoughts

Marketing technology stacks are getting more complex as marketers plan to fully realize the worth of their data. However, marketers must eventually take a step back and ensure they’re not overspending on data driven marketing tools. one among the simplest ways to realize this is often to enact high standards for marketing technology from the outset, and rigorously assess the worth of programs and tools that have previously been welcomed into your marketing stack.

Data driven marketing tools are crucial to the day-to-day work of marketers – and for this reason, great scrutiny is required when purchasing these tools. If proper care is taken when selecting data driven marketing tools, marketers will enjoy better efficiency and improved deciding , contributing to more successful marketing campaigns.

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