CMO’s guide to extracting insights
Media iQ VP of Sales North America , Rachelle Daglis advises retailers on how to engage with consumers by extracting insights from their data.
“Business Intelligence without the ability to act in real-time is like a car with no gas; being agile and making real-time data driven decisions is what drives business growth.” Rachelle Daglis, VP Media iQ Digital
Breaking Down the Silos
Data collection silos exist whenever two or more of your teams are collecting data but not merging it, or not sharing insights across company teams. Remember that your marketing team, your website team, and your strategic growth gurus should all be talking to one another regularly about how your company plans to attract new business from both new and existing customers.
Approach all marketing initiatives from a programmatic approach. Build marketing channel-wide plans that ensure that all stakeholders are on the same page about messaging and campaign goals.
If you haven’t started digging into the data, don’t let the enormity of things like attribution or volume daunt you. And blindly directing teams to “find insights” won’t serve you either. In fact, that sort of directive will likely send your teams on a wild goose chase of random technology products that make big promises that are impossible to solve with existing industry information.
Most of the data you need to start mining for data is already at your fingertips with existing systems. Merge your CRM with site data. That will allow you to gain some initial insights on who, exactly, is reaching out to you via your online presence. Current customers and potential customers might require two (or more) different strategies to engage them and create new business.