Data-as-a-Service: The latest tech trend to transform B2B marketing
Big Data is the critical must have resource for marketers and sales professionals in today’s global business environment. Marketers are increasingly looking for information on identifying the right prospect at the right time to send the right message. Maintenance of marketing databases and sourcing the right, relevant campaign data has always been a complex task.
Pre the big data boom, if a B2B marketer wanted to better understand prospective customer data, they were limited to purchasing static lists, or dependent on manual research. The contents of these often had to be validated and inputted manually prior to campaign execution, by which time the data would have already become outdated. Online prospecting with the internet boom about ten years ago did make B2B marketers job a little easier, but relevance and accuracy continued to be an issue for those using this method.
Alongside growing consumer demand for personalised marketing, B2B marketers have also followed suit. Firms are becoming heavily reliant on marketing technologies, from CRM, marketing automation to predictive analytics - all dependent on accurate data to work. Data is the gasoline for these marketing engines. Each requires quality data on a real-time basis to provide accurate decision making support. As a result, data-as-a-service (DaaS) has emerged as an alternative to static list purchases.
Firms have begun to deploy DaaS cloud to obtain, validate and feed data into marketing automation platforms on a regular basis. Instead of buying prospecting lists which can quickly decay, organisations are increasingly deploying DaaS subscriptions which offer large up-to-date databases of potential leads, complete with industry specific sales trigger information. The benefits to sourcing data in this way are numerous - it is continuously updated, leads can immediately be matched with internal data, and sales reps can view buyer profiles from within their own CRM systems.
As a result, marketers are able to reduce email bounce back-rates, improve segmentation and ultimately feed a more accurate sales and marketing data process for campaigns. Accurate data not only improves sales and marketing, but it can reduce friction between these two groups as well. Quality data makes for better insight, enabling each to do their job collaboratively and consequently results in fewer disputes.
The innovators in the DaaS space are further democratising and proliferating highly focused inciteful sector specific data, launching subscription models, providing accurate intelligence at flexible subscription fee.
Looking forward I would expect DaaS platforms to be fully integrated into CRM, Marketing automation and predictive analytics platforms. Instead of simply feeding static data lists, vendors can access ongoing data validation and enrichment services within cloud platforms that feed straight into their existing databases and tools. In short, DaaS is revolutionising marketing technology, providing the all important ammunition for marketers and salespersons to personalise their communications, reduce the costs of B2B marketing and sales pipelines, and ultimately improve their bottom line with increased sales.