When I got the results of Domo’s 2013 Data-Driven Marketing Survey, I wanted to be shocked. The disparity between what marketers need and what they have is as wide as ever. But in truth, the only thing shocking about any of it is that we’re still dealing with these problems. It’s the 21st century! Why are we still locked out of our own data?
Here’s what may surprise you: marketers get data. They really do. They understand how important it is to their work, and they want more information so that they can make better decisions. But they’re dealing with systems that can’t deliver what they need, when they need it.
Here are four ways to improve our interactions with data before we can step up to the next level of marketing:
1. You’re Getting Reports from Where?
The survey report shows that 83% of marketers are delivering reports via email, and 72% are reporting during in-person meetings. That’s pretty old school—and that’s saying a lot coming from someone whose favorite Sirius station is ‘80s Alternative.
Marketers aren’t doing themselves any favors if email is the most common way to report information. As a CMO, I know that I need more information than what comes in static reports through email, presentations or spreadsheets. Those reports tell me what is happening; I need to know why it’s happening, or else I can’t turn the ship around. And if I have a talented marketer spending hours and hours every week just to send me some numbers, then that’s a waste of time.
If you’re getting emailed reports, you’re probably getting them on a weekly basis (more or less). Marketers need to be in the data every single day, sometimes every hour, and email just can’t cut it.
2. Can’t Use It if You Can’t See It
Not surprisingly, 87% of marketers reported that they rely on data to do their jobs well—but the sad thing is that only 55% reported that they have access to the data they need.
In this digital age where every marketing activity has a footprint, marketers should demand to see information. Proprietary reporting from Facebook and Twitter on ad performance is more and more robust every year, and the information is available in real time. If you’re not following the stats, you’re potentially wasting ad spend and losing opportunities.
For example, Domo has a team member that analyzes our social media interactions. During one campaign in particular, she helped us see which types of interactions were most successful at different stages of the sales cycle. We made careful, informed adjustments based on these insights, and now social is helping us close more deals.
3. More Responsibility, Less Information
ROI is important. It’s so important that 83% of survey participants reported that they are held accountable for ROI, and 54% have their compensated tied to ROI. Trust me, this increases as you go up the corporate ladder. At SAP, my bonus was impacted by marketing ROI, and here at Domo, ROI is a large percentage of my overall compensation.
But here’s what really brings the reality home: only 33% of marketers have access to ROI data.
That’s crazy! Name another group that deals with that kind of responsibility with so little information. What if a sales executive didn’t know which contracts had actually signed and was forced to just trust that they’d get paid? Those aren’t good odds for success.
4. Need One Place to Manage
Marketers want a single dashboard. But even though 89% say that it’s important to see all their data in a single dashboard, 81% don’t have one. After all the social media metrics, marketing automation, web analytics, pipeline data and more, you could easily spend your entire day just trying to chase down numbers and drill into multiple systems.
Here’s Where Domo Can Help
The CMO of a Fortune 1000 company needed reports faster than his once-a-week cadence could give him. Tuesday was the go-to day, and numbers weren’t available any earlier. But he couldn’t make the decisions he needed without updated information on his time frame, not someone else’s, so he came to Domo for help.
At Domo, we recognize that the status quo has to change. That’s why I’m excited to be CMO here—I present to business professionals a real solution to problems that have a broader impact than just whether or not you can see your data. Domo helps business professionals get better access to the data they need, and that means they can improve their work, set higher goals and bring in leads with greater efficiency. And when marketers use Domo, they regain control of their data so that they can regain control of everything else.