Have a chat with the marketers you know & ask them about their pain points. Marketing database management will be one among them for sure! Poor marketing database management is something which holds them back from achieving their marketing goals. This leads to poor customer experience, lack of visibility in the customer journey & defeat in hitting right message, for the right audience at the right time and ultimately low ROI.
But does it have to be like this?
Today marketing database is at the heart of every marketing campaign as it can turn strategies & tactics into marketing triumphs aiding marketers to target the right audience with right messages at the right time. Then why do many marketers fail at marketing database management & identifying where they are accurate, complete & up to date as possible?
The power & problem of Marketing Database Management
But there’s just one problem which is that data doesn’t last forever. Data decay is a continuous challenge that even top experts on Marketing Database Management face. It will keep on happening whenever prospective leads switch jobs, change their homes, get new email addresses, earn promotions or whenever they undergo any kind of status change.
Depending on the volatility of the industry, even if the marketer is following top class Marketing Database Management principles, there are chances of data decay that can happen at about 2 to 3 percent per month.
This results in the need for accuracy for marketing database management. The task of accurately collecting, recording, storing, identifying & retrieving information is more challenging than it actually sounds like! Leads aren’t always accurate about the data entered. Another thing is that not all data comes directly from customer input. All these are the troubles that a regular database manager of an organization faces.
The more perfect the data, the clearer will be the image, not only of individual clients but also the audience as a whole. Bringing everything together into one single file is damn necessary for effective account-based marketing. Eventually, that’s the aim of modern marketing database management.
The right time for Marketing Database Management
Leads will always be in motion which results in accurate data being a moving target. This means that marketers should be able to use their wits faster than gunslingers draw their six shooters. Leads that appear rock solid also follow their own flight path along the buyer journey. The time sensitive behavioral data is the key to understanding how to serve them. Verifying the information is a crucial component in marketing database management to get the timing right on all marketing activities.
Marketing Database Management – To Do List
Even though marketers are fully aware that data is a critical business resource, many continue to struggle with marketing database management. Keep reading as we break down some of the key concepts that should be followed to make things a little simpler.
It’s important for information to be in the appropriate format for proper analyzing. Normally database managers manage this by normalizing existing information & developing rules to handle incoming data. Normalization is damn crucial in marketing database management & the rules are simple & are set universal to make it easily stored & readily accessible.
Analysis of database is crucial as it is what enable to identify the categories which enable more precise focused marketing. The analysis in marketing database management extends across a range of factors. When marketers know in which sectors the best customers are in and can use comparisons with other databases to size the sectors & identify more likely customers.
For successful sales transactions to happen it’s important to have complete & accurate information. Data appending is the process that marketers can take advantage of to fill in the voids in the database with accurate & current data. Data appending in marketing database management, not just aids in maintaining data quality but also in saving marketing costs by providing precise marketing data.
Data Appending can be further classified into
- Full Contact Appending
- Social Profile Appending
- Email Appending
- Phone Appending
Migration of data from a data warehouse for use in big data processing systems happens on a consecutive basis in organizations. During these times it is necessary to check the data that it is accurate. Errors that range from spelling errors to data loss can endanger the performance of marketing projects. Both manual & automatic techniques can be employed in data verification for proper marketing database management.
Data Verification can be further classified to:
*Email Verification *Phone Verification *Social Profile Verification
Incorrect data is of very little use. Data validation is crucial to make sure that data stays clean, correct & use. It checks the integrity & validity of data while ensuring that it complies with the requirements & quality benchmarks.
It is best if data is cleansed before entered into a database. Data cleansing aids marketers in removing errors, duplicate data, incomplete data & settling irregularities. A clean database that is used for marketing campaigns can extremely reduce bounce backs & updated information can be modified into a key business asset.
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Final thoughts on Marketing Database Management
Your marketing & sales campaigns outreach will only be good as per the quality of your marketing data. If your marketing database is not properly managed, the data will get corrupted with inconsistencies, inaccuracies, or missing information which will make it tough for you to reach prospects or communicate with customers.
Previously marketing database management used to be available to only the big players which consisted of super-heavyweight firms with profits larger than the GDPs of most countries. It has changed. With the availability of third party database management consultants & off the rack solutions, companies of any size can benefit from the Art of Marketing Database Management.
Once you have your marketing database purified, make sure that they are marketed awesomely as they are not gonna do it themselves. Create separate marketing campaigns as per various stages of the buying cycle they belong to. You can also aid the leads move forward through the stages of the buying cycle via serious lead nurturing campaigns to take them from inquiry to sales.