Martech has been around for years now. Of course, the number of marketing technology solutions grew from 150 in 2011 to 8,000 in 2020. Also, this means that marketers have used several martech systems over the years, creating unprecedented silos in their data and platforms.
Many of these are now legacy systems that have created tremendous data silos in the marketing ecosystem. Naturally, this hampers insights as well as marketing ROI. And, legacy technology used over years and organization structures are the biggest reasons for data silos in the marketing ecosystem.
In this blog, we see how to break through the data silos.
The top answer is in customer data platforms (CDP)
With CDP, marketers have a unique opportunity to unify all their customer and marketing data into a single source of truth. Naturally, CDP has the capability to unify all customer data into a single, centralized, and accessible database.
Of course, CDP can aggregate as well as organize customer data collected from various touchpoints. Secondly, it structures this data into customer master profiles. Then, it allows this data to be accessed by other systems such as MarTech stacks.
Naturally, CDP prevents data silos by creating holistic customer profiles that take into account data consolidated from a variety of sources. This includes first, second, and third-party data sources. CDP has the capability to consolidate data from CRM, DMP, data warehouses, websites, apps, and webstores, as well as store interactions.
So, marketers looking to tackle data silos must start with CDP. Its very first use case is to unify data into a single, effective system.
Disrupt traditional organizational cultures to encourage data collaboration
Another reason for customer data silos is the lack of collaboration between departments. So, work on bringing various teams like CRM and marketing, store ops and sales, on to the same page regarding data collaboration, sharing, and leverage.
However, organizations must bear in mind that this data sharing must be done without compromising on consent or control. Naturally, a strong data management strategy allows brands to safely use data to achieve marketing goals without compromising on customer’s privacy.
Before we go…
As customers demand more and more personalization in their brand interactions, it is becoming critical for brands to have a single view of the customer. And, they need to achieve this no matter what it takes. The right tech stack can enable this single view. And, it can help marketers break through the data silos to become truly data-centric and subsequently, customer-obsessed.
But investing in the right tech stack is only the first step. To truly make the most of these investments, marketers must disrupt traditional work styles. Also, they should question the lack of collaboration between departments. Only then will different departments work towards the common goal of delighting the customer across all touchpoints.
The time for disruption is here. And Rebid is armed and ready. Talk to us to break through the data silos and unify customer data for high marketing effectiveness. What are you waiting for?