Destination CRM editorial assistant and writer Lauren McKay recently published a fascinating piece on “The State of Data” in direct digital marketing. She recaps a recent research study conducted by Experian QAS (the part of Experian that verifies addresses). According to the study, data care is not perceived as a vitally important part of the day-to-day operations of businesses. There are some surprising findings in this study.First, 55 percent of organizations stated that not only did they not have a viable data strategy in place, they weren’t even aware of one at all. Obviously, it is a substantial missed opportunity for any business to fail in having an operational data strategy.
The big data point that compelled me was that one out of every four organizations is unable to correctly identify both its best-selling products and its best customers. These data points should be the easiest to identify and build campaigns around.
With a variety of direct digital marketing tools readily available in the marketplace for campaign execution and reporting, it’s extremely important to not lose focus of the heart of any modern campaign – the data. It’s the core, the element of a marketing structure that fuels every other operation. While many great tools exist for executing campaigns, and there is no shortage of shops to get good creative, the data is still the most elemental piece.
That revelation is consistent with a general shift in the way direct digital marketing is executed. The emphasis used to be on customer acquisition at all costs, and now many sophisticated marketers have smartly shifted to a more personalized and relevant approach bent on customer retention. However, it is impossible to successfully execute relevance without having a data strategy in place first. And a strategy for getting customer data is no longer enough. Relevance happens when data is maintained and, as a result, accurate and up-to-date. In an uncertain economy a retention focus is good, and properly maintained data is the key.
