Often, companies get into a quick-fix mentality. They need to solve a problem, so they jump in and get excited about a shiny, new object (a.k.a., the latest technology). In truth, technology should take a back seat until the overall data management strategy has been defined.
At MSIGHTS, we’ve seen that using a proven framework streamlines the transition and sets our clients up for success. But it is still a process that requires time, attention and careful planning.
The first step is understanding these three truths:
1) The work to become more marketing data-driven is not a project.
2) Great marketing results start with having great data.
3) Developing a data strategy takes time, budget and internal equity.
Next, we move on to addressing the five interconnected areas or pillars that make up the foundation. The first key focus to operationalizing data management is to plan your data implementation strategy.
First, your team must focus on the key decisions you want to make. That requires taking the time to define:
- WHY is having great data and reporting important to you, your team, and your company?
- WHAT do you need for positive “tech” ROI?
- WHO will be the budget owner, initiator, implementer, and on-going champion?
- WHEN will you get started and make this a go-forward mindset and operating model?
- WHERE will your data be housed and managed: internal, external, or hybrid approach?
- HOW will you get to great data?
Remember, becoming data-driven is more than data collecting and reporting. To truly operationalize your data management, you must be intentional, focused and strategic.
Stay tuned over the next few weeks as we unpack the remaining four pillars of our data implementation road map.