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Data Management Platforms 2021
A new report from Demandbase shows increased investment in ABM for B2B marketers over the next few years. But while ABM is growing in popularity and may even be a new form of marketing automation, most B2B marketing teams are still side-stepping the massive data management problem festering just below the surface — and it’s only going to get worse if we don’t address it.
Investment in digital marketing technology is expected to reach $122B by 2022, and with that investment will come more data than most organizations can even dream of managing. This data problem has existed for as long as people have been collecting it. But it became front and center as companies began using CRMs — particularly Salesforce. In its early days, the CRM promised to hold all your data so it could become your single source of truth. Unfortunately, that didn’t always work out as planned.
The problem here exists on many levels. With large companies often having many instances of CRM, inputting all this data has created a mess of overlap and dupes because CRM platforms weren’t designed to function across multiple organizations. What’s more, sales and marketing teams (customer service, and others too) all have their own unique way of adding data into the system, which complicates things even further. Layer on top of that the fact that CRM is just one part of the data equation–so much data comes from different sources and tools–that we have a mess of data and channels that won’t connect with each other.
What B2B companies really want is to have a single source of truth that enables them to know and understand their customers (and prospects), so they can provide high quality experiences that deliver value accounts will pay for.
For more such updates, check Out recent Martech Cube blogs.
https://www.martechcube.com/as-long-as-data-management-is-broken-so-are-most-marketing-tools/
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