According to a recent study from Econsultancy, customer experience is regarded as the primary way for organizations to differentiate themselves from competitors in 2017, but data capabilities — the very bedrock of all digital experiences — aren’t developing fast enoug
Companies must have a data definition that powers a unified data language across the organization. Many businesses spend huge amounts of resources cobbling together different digital marketing tools instead of running campaigns. Start with your digital foundation first, so you can focus on using data to generate revenue instead of simply integrating and normalizing it.
Fairfax Media New Zealand publishes more than 25 different magazines and dozens of newspapers, regularly reaching 85 percent of New Zealanders with their content. They began by unifying their analytics to see where audiences were coming from and how they were engaging, but they soon amped up their audience management capabilities to take it a step further. They integrated more sources of customer data into their marketing suite, including membership and clickstream data to increase advertising options and boost revenue. The results have been compelling.
“One insurance advertiser leveraged a combination of data segments and retargeting to increase response by almost 300 percent compared to untargeted campaigns,” says Fei Bian Goh, senior product manager of news at Fairfax. This unified platform and deep data unification enabled Fairfax to offer these types of successful programs to other advertisers as well.
Unified data metrics can also unite your company across organizational silos so everyone is shooting for the same targets.
“The same questions and goals have to be posed across the company. Ad ops can’t only think about ‘their’ KPI that may contradict the subscriber goals. The KPIs have to agree,” says Jennifer Cooper, director of media and entertainment strategy at Adobe. A digital marketing foundation can often provide the catalyst and framework to power this internal change.