Google, Apple, Microsoft, Amazon and Facebook are the top 5 most valuable brands this year, and they have reached this pinnacle through extraordinary data management. These juggernauts masterfully capture, measure and analyze petabytes of data. But that’s not what sets them apart from their competition. The next, most significant step that puts these top brands leagues above all others, is the ability to close the loop between marketing insight and action.
All marketers at every brand know that they are relying on vast amounts of data in order to pilot the brand, and they must be masters of their data to influence consumers’ mind share and win purchases.
Yet, Forrester found in a recent survey that the majority of marketers give themselves a nearly failing grade for data management. They also acknowledged that data management is a key aspect of marketing intelligence, which nearly three-quarters reported is important or critical to the company’s ability to meet its marketing goals. Respondents value marketing intelligence because they say that it positively impacts customer satisfaction, customer loyalty and marketing ROI.
So, why then are brands failing on data management, which is so essential?
To rise to the top, companies must commit to being masters of their data. If it’s not an integral part of the entire marketing strategy, and only a side item, then it doesn’t get baked into the recipe for success.
Further, the commitment to data management influences culture and people, and it all comes together to push a company to the top. Without the collective commitment to data as the essential driver of success, a company will continue to operate on poor hunches, instead of fact-driven decisions.
Marketing intelligence provides leading brands with the propulsion needed to be the leader. It moves brands from relying on backward-looking dashboards and struggling with data management to having actionable insights that launch success.
Download the Forrester Report, “Marketing Intelligence: The Key To Improved Customer Satisfaction, Customer Loyalty, And Marketing ROI” to learn how to put data management at the core of your marketing intelligence program. And join our webinar with Forrester principal analyst, Jim Nail as we discuss the findings and explore solutions.