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The Importance of Aggregated Data for Integrated Marketing
We live in a data-oriented world. Consider this: our route to work, our digital actions on websites, the type of content we like and share on social media, and more are daily things we do that create data points without even thinking. Smart marketers are using relevant business data points within their internal systems to […]
We live in a data-oriented world. Consider this: our route to work, our digital actions on websites, the type of content we like and share on social media, and more are daily things we do that create data points without even thinking. Smart marketers are using relevant business data points within their internal systems to create digital profiles for their customer base and prospects. The issue many companies face is the lack of consistency between systems and data points. The idea of one complete profile is obviously very appealing, but how to get there is an area many companies have not yet solved.
What Is Aggregated Data?
Aggregated data is the combined result of multiple databases and data sources. The aggregated data generally sits on one database as a data warehouse. Integrations from all data sources point towards this one database, and more importantly, to one particular record within the database.
Agreegrated data often allows for records to be searched and presented in a summarized format that highlights specific metrics that are relevant to the business or certain teams. This is a vital component of most companies business intelligence (BI) solutions due to how it can easily make enormous volumes of data easy to understand and act upon. For integrated marketing, this includes topics such as disparate as demographics, past digital interactions with a company domain (i.e. eCommerce store or product page), and prior purchasing history.
What to Consider When Designing an Aggregated Database
Aggregated data is obtained when you query multiple sources and leverage the same data features to gain a holistic picture. For instance, you can integrate both outside market research through a third-party and polling conducted through an opt-in email blast sent out to frequent clients. The key point to identify which mechanisms and channels should act as the overriding data field. For example, a contact may have the name that was self-entered by a customer, and a 3rd party data source could have a full name they do not use listed. In this example, the self-service name should overwrite 3rd party data. This must be standardized for every field where a conflict could occur.
An example of multiple datasources that could be leveraged within one database include:
Contact Information (CRM)
Lead Score (Marketing Automation)
Customer Lifecycle Stage (Marketing Automation)
Transactions by Product (CRM or POS)
Transactions by Category (CRM or POS)
Company Projected Revenue (3rd Party Data Source)
Company Industry (3rd Party Data Source)
Even without key identifying information such as names or addresses, the information obtained can readily provide you with insights needed to adjust future marketing efforts. Third party data should never be purchased with the intent of cold emailing or cold calling contacts. They don’t want to hear from you – and it’s illegal. However, 3rd party data can help standardize many fields and cateogires, such as the industries of your customers, in order to makeyour database searchable,
Making the Most Out of Your Data by Closing the Loop
Thanks to the development of effective analytical tools and innovative approaches to marketing in recent years, business leaders have the ability to make vital decisions with accurate and timely data. Utilizing aggregated data is essential for understanding current consumer needs and in measuring their return over the life of their relationship with your company.
When leveraged correctly, an aggregated database that has sales information included can help you correlate specific marketing channels to actual transactions. There are many tools available to enable you and your team to swiftly view this information, including CRM or marketing automation platforms.
Make Adjustments Based on Facts – Not Assumptions
Successful B2B marketers are executing integrated campaigns through multiple channels that cater to cater to the needs of specific individuals within specific accounts. With marketing, we must have a clear line of site to what is working and what is not. An aggregated database is often required in order to have this holistic view of what channels are actually driving revenue.