Analyze your status quo before you go.
Is it that bad? We have other more pressing priorities this year; can we do it next year? I am sure you have heard that several times in the past when you are planning with the idea of building a solid foundation for your data integrity efforts. Concentrating your argumentation on profound assessment is key to success, especially with a topic that is not as attractive as lead generation, customer experience, or digitalization. Everyone is aware of the necessity of having clean data. However, many companies have been reluctant to put extra effort into a company white, rather holistic data cleansing program.
Having an end-to-end analysis done is key to revealing areas where your organization mainly falls short. It helps you indicate GAPS and triangulate the impact on lead generation, marketing effectiveness, operations, and your revenue goals. Further, it gives you the ability to provide your organization with clear prioritization, allowing you to concentrate on mitigating those fields where you are most challenged in terms of data integrity.
Communicate the status quo to get buy-in from your decision-makers
Communicating the impact along your End 2 End Customer Data Journey is vital to bring your Mgmt. Team on board. Data quality issues are like a virus and will increase their damage if not treated timely and correctly. Having a clear Matric around Data integrity like DQI and Data Accuracy, broken down into different areas like data ownership, various data objects like accounts, contact, equipment, demographics, and other factors are key.
Working with B2B Manufacturing companies over the last 15 years, we see data quality slightly increasing; nevertheless, there is still a massive gap that needs to be filled to allow companies to gain full advantage of their digitalization strategy. Demographically speaking, the trend remains where the Americas is performing slightly above the EU, followed by a relatively poor data integrity standard in the APAC region. That can be explained by a more substantial CRM adoption and a higher degree of customer-centricity in the US.
Why should we invest now and prioritize your Data Efforts over other critical projects in Marketing, Digitalization, or Product Development?
Tying back data integrity to operational goals, like lead quality, lead conversion, operating efficiency, sales revenue, after-sales revenue, or digitalization readiness, gives you a better position. Providing a clear view of the program’s impact on the overall organization will allow you to pull your leadership team’s attention to your site. This will help you formulate your goals and help you measure against them, especially mid and long-term. If you have never executed an assessment like that before, we would recommend hiring a freelance expert or data management firm to guide you through the critical part of the process. Ultimately that will speed up your assessment phase and help you lay out the argumentation you need to convince your key stakeholders.
Sr. Data Mgmt. Role as a critical success factor for your organization’s growth.
Isn’t it time to give the role of a Global Data Manager or Chief Data Officer a higher significance in a B2B organization? This topic has been a forefront discourse for years now, but not all companies have drowned the conclusions and made the necessary adoptions to their organization blueprint.
Especially with the learnings, from the last two years, the digital transformation has increased its speed like never, we can’t delay the fact that the change must happen now. To cope with the increasing expectations toward digitalization, data accuracy and efficacy of your data integrity program are vital to achieving a seamless end-to-end customer experience for your audience.
We have seen data integrity initiatives in all shapes, sizes, and forms. One clear recommendation is to have someone preferably 100% assigned to this delicate matter as high up as possible in your organization; it will pay off in no time.
“This topic will not go away. The only thing it will do, it will continue to increase importance over time and require constant care and maintenance to ensure your data integrity is sustainable and provide you with #marketingefficacy #revenuegrowth and get you #digitalizationready.”
Allocating a role like that in the business area of your organization is critical. We do not recommend making any moves toward the direction of your IT department. Customer data is widely known to be owned by the business, which might cause additional friction and opposition down the line of your data integrity initiative. On the other hand, having someone from the IT Department to help with the more technical criticalities like your business application infrastructure and data integration remains a crucial support role.
Timing and requirements around a Senior Data Mgmt. Role.
Nowadays, companies increase budget allocation to intensify their data cleansing efforts. However, budget owners have the tendency not to reserve a spot for a new full-time equivalent due to other more concerning business priorities.
If this is the case for your cooperation, do not lose the momentum of getting your data cleansing effort up and running. We recommend bringing someone in at interim with strong- project management and -communication skills, preferably from your middle Management Team, who shall initiate the program while searching for someone who can permanently fill the role. Pair the position with an external data solution expert, which will help you get going until you have the means to allocate the Headcount to this critical role.
Your candidate should have strong knowledge of your industry’s customer base, be passionate about data, have a strong eye for detail, and break down complex issues.
If you are hiring from within, The role should be filled by someone who has preferably worked in a leading customer support role, e.g., commercial operations, customer experience, someone heading the support center that should allow you a good fit.
Suppose you don’t have a 100% fit in terms of skillset within your organization. In that case, you can always bridge possible knowledge shortages by providing solid external knowledge. It might help with other critical aspects of your program and ultimately speed up the learning curve.
You have the go-ahead for a Senior Role; start hiring as soon as possible. The market is quite competitive right now. Finding the ideal candidate can take some extra months as this role is more demanded than ever. In an upcoming article, we will further elaborate on the roles and responsibilities of a senior data mgmt and some other valuable aspects of the position.
Conclusion
- Analyze and communicate your Status quo –Having a clear Matric around Data integrity like DQI and Data Accuracy is critical to get your key stakeholders and decision-makers on your site. Tying back data integrity to operational goals gives you an even better position and will demonstrate the program’s impact on the overall organization.
- Promote and time a permanent Global Sr. Data Mgmt. Role – This is a critical success factor for your next Data Mgmt. Program. If you don’t have the Headcount allocated yet, fill it interim and continue to advocate for the role throughout the project. Persistent messaging underlined the necessity of this role combined with strong matric helps and sometimes will open unexpected new allays.
Preview: Part 2 – Coming up next Thursday, the 13th of January 2022
- Layout a transparent and modular end- 2-end cleansing process
- Plan the right resources for your data initiative
- Initial cleaning doesn’t go without continuous cleansing
Feedback
We are more than looking forward to your feedback. Use the comment section below. Please hit the like button and share the article with others who might benefit from the content if you enjoyed reading the article. Thank you for sharing.
