That staggering percentage comes courtesy of a recently-released survey conducted by The CMO Council of 150 senior marketing executives in North America and Europe. If that number weren’t telling enough consider the fact another 48% of those surveyed indicated that while they collect and analyze data, it is often silo’d and not aligned and in fact a mere 3% “say their current data sources are integrated and totally aligned, delivering a comprehensive 360-degree view of the customer” according to the release announcing the findings.
In a word: Yikes.
Yes I know a highly technical term but, these numbers are pretty telling indeed as they speak to the growing concern among many CMOs and marketers who simply cannot deal with or handle the onslaught of data that continues to besiege them, literally. The data sits in silos, literally wasting away.
The most important long-term benefit is fixing the fragmented experience consumers have every day,” says Oracle Marketing Cloud SVP and GM Kevin Akeroyd. “When advertising data and marketing data reside in different systems—sometimes within different companies—you can’t deliver a consistently intelligent experience across channels that wins customers’ hearts in real time.”
What’s A CMO To Do?
Well the answer perhaps lies in what Liz Miller, SVP marketing at the CMO Council told the Marketing Daily: “When people talk about next best action and proactive analytics, there must be an infrastructure, or platform that indicates not only what is the next best engagement for a specific customer, but what is the next opportunity for that customer.”
The infrastructure and platform(s) that Miller speaks of exist today says Akeroyd.
“From a data, technology and process standpoint the tools are there. We just need to adapt our organizations, our thinking and our approach to take advantage of them.”
To help CMOs and marketers in their quest, we created, in partnership with The CMO Club, The CMO Solution Guide to Leveraging New Technology and Marketing Platforms. Download it today and hear from your fellow CMOs on this ever-changing and ever-challenging topic.