Making Better Use of Data to Overcome Marketing Challenges

06/22/2015


Many organizations’ acquisition and cross-selling efforts are generating declining results. Traditional marketing channels are expensive, and modern marketing channels are beginning to underperform. Many of the problems that these organizations face stem from the quality of their prospect and customer data, and a lack of marketing channel options.

Having worked on data projects in a variety of industries, Cornerstone has created insights and developed solutions that drive results. The following describes some of the hurdles we are seeing and how to overcome them:

Problem: Underperforming Data

Solution: Our experience shows that data underperforms when it lacks specificity. Access to individual-level data from a variety of sources helps to set the framework for great marketing campaigns.The breadth and depth of data is essential and the more data sources, attributes and partnerships you have access to, the better.

Problem: Dirty Data

Solution: Increased sources of performance-driven data are fundamental to the success of your marketing, but sometimes that data can be rich in attributes and poor in cleanliness and accuracy. We improve your prospect and customer data using a stage gate methodology approach. Stage Gate methodology is a project management technique wherein a process is divided into steps or activities, which are then classified or divided into "gates". In order to move forward to the next stage or phase, a gate must be passed or closed, closure of which includes the sign off of a Gate Keeper who can be someone like a Quality Control Specialist who ensures that quality checkpoints, thresholds or expectations meet or pass expected, readiness criteria or tolerated results. Stage Gate helps control the entire process from getting out of hand, ensures the highest quality is delivered while most efficient steps are applied without redundancy. It also helps teams track and trace project activities to meet Audit and Compliance requirements. Because Cornerstone uses Stage Gate, our Clients’ prospect and customer data are delivered in their most accurate and up-to-date versions.

Problem: Data Warehouse Limitations

Solution: If you can’t capture new data and new data sources quickly, you can’t deliver targeted campaigns quickly. That’s why marketers need to ensure that their databases are ready to react to change. With a traditional data warehouse, this can be tough. Cornerstone offers an inexpensive and easily-deployable Agile Database Solution that acts in response to your marketing needs.  Whether you need access to your data without restrictions, or need to capture data from a new channel immediately, our Agile Database moves at your speed.

Problem: Difficulty Leveraging Data Insights

Solution: As marketers begin accessing new types of data, traditional analytics and modeling methodologies become ineffective. We encourage our Clients to make certain their in-house or outsourced analytics teams are ready and able to leverage additional performance-driven data as it becomes available, and to understand how it interacts with their existing toolsets. Cornerstone can complement your internal modeling and analytics resources to extend and enhance your current output. Or, we can build rapid models in hours, providing new insights that you can quickly put into action. We also have an exciting new acquisition model that can increase your lift and build history for future campaigns. Ask us about Acquire Advantage.



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