Cloud-based Master Data Management to improve your CRM marketing
Posted: Tue Jan 21, 2025 10:56 am
Discover why achieving customer engagement and loyalty ultimately comes down to data and CRM marketing
Jan 25, 2018
Master Data Management (MDM) is critical to CRM marketing success . This was already apparent in several Gartner reports . “CRM leaders who avoid MDM will get erroneous results that will annoy customers, resulting in a 25 percent reduction in potential revenue gains ,” it said.
But we can expand on this further. Whether your viber database sells to customers or other organizations, your CRM marketing needs to be able to provide insights into who those customers are and how you can recognize them at any point of contact. But to accomplish this, you need to be able to reconcile records that are stored in disparate business systems, sometimes across departmental boundaries.
With the proliferation of smart devices, the reliance on technology to conduct everyday transactions and interactions as a business or customer continues to increase. The challenge of identifying and reconciling data across these disparate and siloed systems makes it nearly impossible to obtain a complete and accurate view of a business or customer with traditional CRM marketing.
No single system contains this view of all lines of business within an enterprise or is designed to manage the full data lifecycle.}
Data quality as an essential part of MDM
Customer engagement: a matter of data and CRM marketing
As organizations look to create a single, trusted source of customer information, many are turning to master data management (MDM) to help resolve data discrepancies.
This is a key factor for a successful CRM marketing initiative, since today's MDM solutions combine the technology, processes and services necessary to configure and maintain an accurate, timely, complete and consistent representation of the company and its customers, since:
Master data is managed in a single location.
They are integrated from multiple data sources, associated with multiple application systems and databases.
They are not made available to the different channels and lines of business until they are refined and consolidated.
According to Gartner, “ MDM is a critical success factor in building optimal CRM processes .”
In recent years, CRM marketing software sales have surpassed total IT spending, but investing in this type of software without the complement of a master data management solution is not a valid strategy, since without MDM it would never be possible to obtain the 360-degree view of the customer required to deliver an optimized consumer experience .
Jan 25, 2018
Master Data Management (MDM) is critical to CRM marketing success . This was already apparent in several Gartner reports . “CRM leaders who avoid MDM will get erroneous results that will annoy customers, resulting in a 25 percent reduction in potential revenue gains ,” it said.
But we can expand on this further. Whether your viber database sells to customers or other organizations, your CRM marketing needs to be able to provide insights into who those customers are and how you can recognize them at any point of contact. But to accomplish this, you need to be able to reconcile records that are stored in disparate business systems, sometimes across departmental boundaries.
With the proliferation of smart devices, the reliance on technology to conduct everyday transactions and interactions as a business or customer continues to increase. The challenge of identifying and reconciling data across these disparate and siloed systems makes it nearly impossible to obtain a complete and accurate view of a business or customer with traditional CRM marketing.
No single system contains this view of all lines of business within an enterprise or is designed to manage the full data lifecycle.}
Data quality as an essential part of MDM
Customer engagement: a matter of data and CRM marketing
As organizations look to create a single, trusted source of customer information, many are turning to master data management (MDM) to help resolve data discrepancies.
This is a key factor for a successful CRM marketing initiative, since today's MDM solutions combine the technology, processes and services necessary to configure and maintain an accurate, timely, complete and consistent representation of the company and its customers, since:
Master data is managed in a single location.
They are integrated from multiple data sources, associated with multiple application systems and databases.
They are not made available to the different channels and lines of business until they are refined and consolidated.
According to Gartner, “ MDM is a critical success factor in building optimal CRM processes .”
In recent years, CRM marketing software sales have surpassed total IT spending, but investing in this type of software without the complement of a master data management solution is not a valid strategy, since without MDM it would never be possible to obtain the 360-degree view of the customer required to deliver an optimized consumer experience .