Enterprise-level organizations face a unique challenge in the business world when managing multiple brands, marketing channels, across multiple stakeholders. With each brand having its own distinct identity, objectives, and target audience, and marketing efforts spread across geographical regions, collaborations and every channel imaginable, the complexity can start to feel overwhelming.
It’s no surprise navigating these detailed and layered activities, while being data-driven and maintaining a clear overview can seem like a huge task. This is where the concept of bringing simplicity to marketing insights really shines, and having access to a single-source-of-truth view for all stakeholders and decision makers is key.
What is the challenge of operating across multiple brands and platforms
Enterprise-level businesses operate on a big scale, often housing various brands, sub-brands, and product lines all competing for their market share. The marketing strategy for each entity must align with its unique positioning, values, and goals.
Adding complexity, these strategies are executed across diverse marketing channels across paid, owned and earned media.
Factor in collaborations with numerous partners and decision makers, each bringing their strategies and perspectives to the table, and the result is a complex ecosystem that can quickly become disjointed and misaligned.
Reasons dispersed marketing insights are detrimental
With such complexity, the challenge for decision makers is in achieving a holistic view of their marketing landscape. Traditional methods of collecting and analyzing data result in wasted time and disconnected information. In fact, a recent McKinsey report on how large B2B companies can outmaneuver start-ups shared that 86% of B2B companies believe they can do much better with their data.
Multiple teams handling various brands and channels can lead to data silos. For example, a business leadership team wants to assess their overall marketing performance and ROI across all their brands and teams. When they approach the situation, they find that they face a significant challenge due to these data silos.
According to Zendesk, only 22% of business leaders say their teams share data well. Information can get trapped in specific departments or brands, hampering collaboration, accurate analysis and resulting in a disjointed marketing strategy.
Does this example sound familiar?
One brand’s marketing team utilizes a different set of tools and metrics than another brand under the same enterprise. Trying to consolidate data from these different tools results in discrepancies, inefficiencies, and an overall lack of clarity. Everyone is left questioning the effectiveness of campaigns and decisions are made based on incomplete or conflicting information.
Why you need a single-source-of-truth for your marketing insights
In the era of data-driven decision-making, enterprises can no longer afford to operate with fragmented data across their paid, owned and earned media strategies. The solution lies in embracing a single-source-of-truth for marketing insights – a centralized platform that consolidates data from all brands, channels, and partners.
Having a unified view not only simplifies the process of data collection and analysis but also offers a comprehensive view of the entire marketing ecosystem. And according to McKinsey, performing an “insights to impact” self-diagnosis is a great way to establish the baseline and set the right aspiration.
An “insights to impact” self diagnosis is about evaluating how well the insights gathered from data analysis are being utilized to make informed decisions and drive tangible results in your enterprise. This process involves looking at whether the insights generated are being effectively integrated into strategies, initiatives and decision-making processes that ultimately contribute to achieving business goals and creating a positive impact.
The Digivizer platform allows enterprise leaders to access real-time data from all brands and marketing channels. They can see how each brand is performing, which channels are driving the most engagement, and where partnerships are delivering the best results.
With this bird’s-eye view, enterprises can identify patterns, correlations, and opportunities that might have remained hidden in a disjointed landscape.
Unlocking the benefits of simplicity
Bringing simplicity to marketing insights through a single-source-of-truth offers several benefits for enterprise-level businesses struggling with complexity:
- Enhanced decision-making: When leaders have access to accurate and consolidated data, they can make informed decisions that drive growth and success. A unified view enables them to identify high-performing strategies and pivot quickly from those that aren’t delivering results.
- Improved collaboration: A centralized platform breaks down the barriers between teams, fostering collaboration and knowledge sharing. With everyone operating from the same playbook, the connection between brands, channels, and partners can lead to innovative ideas and strategies.
- Resource optimisation: With a clear overview of the marketing ecosystem, enterprises can allocate resources more efficiently. Uncovering redundancies and areas of opportunity becomes easier when data is easily accessible and comprehensive.
- Consistency and governance: Establishing a single-source-of-truth brings order to a potentially chaotic marketing landscape. It enables enterprises to implement consistent governance, ensuring that each brand adheres to the overarching strategy while still having the flexibility to address its unique goals.
- Holistic customer insights: By consolidating data from various sources, enterprises can gain deeper insights into customer behavior and preferences. This, in turn, allows for the creation of personalized and targeted marketing campaigns that resonate with the intended audience.
The path forward
In a world where complexity can lead to confusion, inefficiency, and missed opportunities, enterprises should look to prioritize bringing simplicity to marketing insights. A single-source-of-truth provides the solution, offering a clear and unified view of the marketing ecosystem.
By consolidating data from multi-brand, multi-channel, and multi-partner efforts with a platform like Digivizer, this approach empowers businesses to make well-informed decisions, foster collaboration, optimize resources, and establish consistency.
