31/07/2017 Next-Gen Marketing Processes - Avoiding New Data Silos Every marketer wants increased top lines, reduced expenses & delighted customers. And that too, with a persistent, sustainable (read cost-friendly) model. That means delivering great customer experiences with agility, responsiveness & efficiency, while decreasing costs! But is it possible to achieve all this with existing processes? Most humans are programmed to adopt quick, one-off initiatives which usually add to existing data silos. This is because any pan-enterprise approach needs more senior management involvement, resources & time. But despite their quick results, one-off solutions invariably create data silos in the enterprise. No More New Data Silos! To build value & better user experience at lower cost, CMOs need to commit to a next-generation process model. This is the new way of running Marketing Dept. which combines digital processes, technologies and databases, integrated to achieve improvements in revenue, customer experience, and cost. A simple way to visualize this operating model is to think of it as having two parts, each requiring companies to adopt major changes in the way they work: Shift from using individual processes and exercises in a piecemeal manner inside silos. Launch an integrated, intelligent process automation program organized around managing your marketing investments and link to marketing objectives / customer touch points. Aggregate the pan organization data pertaining to marketing investments in a central marketing server cluster. Engineer the processes so that all data related to marketing investments are stored in a single server cluster with a continuous process of stitching data together.This makes it easy to process current & historical data using sophisticated tools to discover insights and make recommendations, providing intelligent decision-making tools, especially the “nonlinear” kind. Benchmarking and rate per performance-unit are great examples. Integrated Process-Driven Marketing Instead of working on separate initiatives inside organizational units, marketing processes must be designed to deliver marketing performance & ROI as a routine output. Marketing investment processes will naturally cut across brand marketing, corporate marketing budgets as well as regional promotions, which must be correlated to customer decision journeys & attribution, wherever possible. Transitioning to the next-generation marketing process model starts with classifying and mapping key workflows. For example, media campaigns can usually be broken into 7 financial steps. But performance tracking with context-sensitive business communication is not usually tied to these 7 steps. Do’s & Don’ts Avoid local processes. To get maximum value, focus instead on simplifying & streamlining the end-to-end marketing process. Redesign processes in ingenious ways with default settings on forms so that user attention is always guided towards the most valuable output of the process – by asking user to link marketing investments to the topmost marketing objectives / customer touch points. Adopt process automation first to reduce time-consuming transactions & semi-manual tasks. Keep a special focus on tasks that involve multiple departments/functions. Redesign processes for continuous improvement. Constantly aggregate all marketing data in a single consolidated marketing database. Maintain a conscious effort to ‘stitch’ all the data elements - this is far from easy, but will create a mine of rich, interconnected data. Use sophisticated analytics tools to process data – for insights & machine recommendations for anything – right up to product pricing. Outsource IT tasks where possible to complete / enhance multiple functions using best in class offerings in the shortest possible time. After all, data is the new gold!