Extraprise: BTB Marketers Lack Confidence in Their Customer Data
Extraprise, a business-to-business database marketing services and CRM systems integration provider, found in a survey that an overwhelming majority of BTB respondents (87 percent) have little confidence in their customer data.
The results are from the 2006 Extraprise DM Days New York Conference and Expo survey, which gauged marketers' top challenges. The findings are based on responses from a sample of attendees interviewed at this week's conference.
Another finding: Most marketers have several disconnected data sources covering different aspects of their customers. For example, 59 percent have data in at least four locations, whereas 18 percent cite five to 10 locales and 23 percent claim to have data in more than 10 systems.
More than half (54 percent) of BTB companies surveyed indicated that the lack of sales and marketing collaboration is their top challenge. Only 52 percent of companies claimed to have integration between their sales and marketing systems. And 39 percent of respondents indicated that data-related issues were the next challenge facing their marketing efforts.
Companies looking to gain confidence in their customer data must bridge the gap between the sales and marketing organizations by improving the following:
· Data: The starting point for most improvement projects. If you wish to improve marketing, you can't achieve anything with inadequate, incomplete or incorrect data.
· Process: Data are not static. The next place to invest is in a continuous process to capture, correct and standardize data. Get the right data to the right people at the right time.
· Systems: Automate as many steps as possible. Focus internal investments on the mission. Outsource the activities.
People: Focus your brain trust on the highest-value insights and automate the key processes. Outsource for expertise and execution.