One of the most popular tweets in our CXMChat Tweet Jam yesterday went like this: "Data has no value. Action on data has value. Connecting data to action is ROI". Here's the thing. Organizations collect a lot of data. But is it the right data? And what are they doing with it that leads to greater sales and more satisfied customers? A marketer can get lost in the details.
Editor's Note: Storify went down yesterday and we seem to have lost our Storify content. We are hoping this is temporary. If not, we'll rebuild the stories and let you know when the summary is back up.
We did well yesterday to avoid the spambots as long as we did. And for the record, unfortunately, no one who attended is getting an iPad -- or iPhone -- from CMSWire. But we can offer though is a recap of the discussion (or the full Tweet Jam archive if you want it all).
Keeping Up With the Customer Experience
Customer and Web experience strategies are changing all the time. As people have access to more social networks and share more information, the amount of data that can be collected is huge. Add to that all the standard analytics that are captured daily and the mounds of customer information stored in business systems and it's a wonder marketers aren't sure which way to turn.
Q1: How are CXM/WEM demands stretching Analytics and Decision Support tools today?
Storified by CMSWire.com · Thu, Sep 20 2012 09:02:30
Q1: #cxm and #wem are stretching analytics because the entire customer's story should be tracked and analyzed not just hits & views #cxmchatPeter Iuvara
#cxmchat Q1: We need to move from reporting of counts to meaning behind user interactions.Rich Blank
Q1 Privacy is another challenge – as websites gather more information about our personal habits, how will consumers react? #CXMChatCoreMedia
Q1 - Analytics shifts focus from the backend app to the front end experience / users to customers. It is a 180. #CXMChatDavid Hillis
Q1 - for full #CustomerIntelligence, data comes from many disparate sources, cust identity resolution can be complex #CXMchatJulie Hunt
Q1 The problem isn't data, we've got too much of it already. It's turning data into insight into outcomes that move the needle. #CXMChatTom Wentworth
Q1 Mant existing data management technologies are not capable of responding to the increased volume and pace of CXM #CXMChatCoreMedia
Q1 The tools are continuously being developed, but they aren’t growing fast enough to keep up with demand for info. #CXMChatDiane Buzzeo
Q1 - Orgs are being stretched more than tools - need for new expertise, X-departmental data sharing, new mktg-tech roles #CXMchatJulie Hunt
Q1: How are CXM/WEM demands stretching Analytics and Decision Support tools today?
Storified by CMSWire.com · Thu, Sep 20 2012 10:21:40
Q1: #cxm and #wem are stretching analytics because the entire customer's story should be tracked and analyzed not just hits & views #cxmchatPeter Iuvara
#cxmchat Q1: We need to move from reporting of counts to meaning behind user interactions.Rich Blank
Q1 Privacy is another challenge – as websites gather more information about our personal habits, how will consumers react? #CXMChatCoreMedia
Q1 - Analytics shifts focus from the backend app to the front end experience / users to customers. It is a 180. #CXMChatDavid Hillis
Q1 - for full #CustomerIntelligence, data comes from many disparate sources, cust identity resolution can be complex #CXMchatJulie Hunt
Q1 The problem isn't data, we've got too much of it already. It's turning data into insight into outcomes that move the needle. #CXMChatTom Wentworth
Q1 Mant existing data management technologies are not capable of responding to the increased volume and pace of CXM #CXMChatCoreMedia
Q1 The tools are continuously being developed, but they aren’t growing fast enough to keep up with demand for info. #CXMChatDiane Buzzeo
Q1 - Orgs are being stretched more than tools - need for new expertise, X-departmental data sharing, new mktg-tech roles #CXMchatJulie Hunt
Q1: One issue is that siloed analytics lead to incomplete decisions #CXMChatAnnie Weinberger
Data, Data Everywhere
With all that data, the key becomes how to bring it all together in one location (note we are not saying physical location necessarily), so that marketers can make sense of it all. The key here -- analytics middleware.
Q2: Is integration of analytics data and analytics middleware a growing demand in your world?
Storified by CMSWire.com · Thu, Sep 20 2012 08:44:19
Q2: Per Aberdeen, 45% surveyed cited insufficient integration as the leading roadblock to harnessing the value of enterprise data #CXMChatAnnie Weinberger
Q2 Integration is key to any analytics-to-action processes: data, results from separate analytics solns, biz processes, decisions #CXMchatJulie Hunt
Q2 Sure is. If customer experience is the end goal, we have to understand behavior, everywhere. Middleware solves that problem. #CXMChatTom Wentworth
Q2 Analytics is already at 100%. In everything from planning to measurement. Growth is messaging based on real-time analytics. #CXMChatDavid Hillis
Q2: It’s impossible to move every piece of data to a single data mart and it’s also impossible to wait a week for your results #CXMChatAnnie Weinberger
Q2 My pet peeve. We often talk about "big data" when most struggle with "small data" analysis+action. Solve the 99% problem first #CXMChatTom Wentworth
Q2 Retailers are still learning how to use big data to boost leads, sales. Analysis is required to figure out what works/what won’t #CXMChatDiane Buzzeo
Q2: Absolutely. Whether it's middleware or tighter integrations between analytics and other systems, I discuss it daily w/users. #cxmchatBen Gaines
What's the ROI in Data?
The million dollar question? No. Because there is no ROI in data. The ROI comes from taking action on that data.
Q3: How are you thinking about ROI on data and analytics?
Storified by CMSWire.com · Thu, Sep 20 2012 08:48:27
Q3 - Data has no value. Action on data has value. Connecting data to action is ROI. #CXMChatDavid Hillis
Q3: The metrics haven't changed, they are just harder to get to because you have more insights, if you can extract them #CXMChatAnnie Weinberger
#cxmchat Q3: ROI is that data gives you factual information to make decisions. Decisions require data + common sense and people.Rich Blank
Q3 Not all data is equally valuable – to ensure ROI you need to discover which customer insights are most relevant to your business #CXMChatCoreMedia
Q3: ROI should be measured based on what change was brought on by the anaytics vs the statuts quo of what would have been without #cxmchatPeter Iuvara
Q3 - Begin with the endgame in mind. The customer! Know your customer, from data, people working with the customer & the customer. #cxmchatHippo
Q3 #cxmchat I think what is more important is the ROI on your content that analytics/data enable you to test and measure.Ryan D. Lunka
Q3 I think tyou need to start small with measurable interactions and clear objectives - don't boild the ocean #CXMChatCoreMedia
Q3 Predictive analytics / big data analytics - used to reveal patterns of unknowns, such as cust behavioral trends, mkt trends #CXMchatJulie Hunt
Q3: Are most orgs caught up in data accuracy or figuring out how to tell the right story? #cxmchatCMSWire.com
Q3 Both. If your data isn't accurate, you aren't getting the right story. #CXMChatDiane Buzzeo
Data Accuracy vs Data Representation/Storytelling
Can we tell a better story if the data is accurate? Yes. So is it more important to focus on getting the data right? Or telling a great story? The two are tightly intertwined, but in the end, without the story, you don't have much.
Q4: Is data capture accuracy or data representation and story telling a bigger issue?
Storified by CMSWire.com · Thu, Sep 20 2012 08:53:34
Q4 Most orgs still trying to figure out what 'big data' is... | and many orgs still trying to understand analytics related to #CXP #CXMchatJulie Hunt
Q4 - Storytelling is the hardest thing for any brand to do. Data just tells us who the audience is and if they are still listening #CXMChatDavid Hillis
Q4: story telling helps you understand the data and what you're doing with it. It helps drive understanding. #cxmchatbillycripe
Q4: data capture representation & storytelling is the harder of the two, lots of handoffs, re-directs, drops and continuations, etc #cxmchatPeter Iuvara
#cxmchat Q4: Data representation, story telling can be misrepresented / misinterpreted. Look at politicians...same data, different stories.Rich Blank
Q4 Both matter: if Data = GIGO, then insights are junk. If insights not communicated clearly, poor decisions/actions #CXMchatJulie Hunt
Q4 You can minimize error to a degree by filtering out internal and known inaccurate sources. #CXMChatDiane Buzzeo
Q4 Perfection is never possible. However, if your data is truly bad, your stories will really stink as well #CXMChatCoreMedia
Q4 Data representation and story. Data is never accurate, trends and insight are more important. #CXMChatTom Wentworth
@cmswire Q4 Sometimes immediacy trumps quality, but decsion-makers must have this context, & need validation from SMEs #CXMchatJulie Hunt
Q4 It may also depend on regulatory requirements of an industry – compliance rules may force some businesses towards more accuracy #CXMChatCoreMedia
Marketing Automation - One More Silo to Deal With
Marketing Automation solutions are everywhere these days. But if they are not integrated into the bigger picture then they become just another data silo to deal with.
Q5: Marketing Automation is creating another data silo. How are you addressing this?
Storified by CMSWire.com · Thu, Sep 20 2012 10:37:10
Q5 Marketing automation / CRM is THE silo. The CMS is not the experience warehouse. You are not going to out @Eloqua, Eloqua. #CXMChatDavid Hillis
Q5: having multiple tools doesn't mean you're pro-silos. Tools can work together but require intentional process management. #cxmchatbillycripe
Q5: When selecting marketing technologies you HAVE to consider the APIs and use of open technologies to enable integration. #cxmchatRyan D. Lunka
Agreed @twentworth12 Q5 CXM tools are often synched with CRM. Make sure the CRM doesn't become a silo. Tons of useful data in CRM. #CXMChatTjeerdbrenninkmeijer
Q5 Silos are cultural - data-sharing orgs integrate & interoperate; "mktg data" must be integrated, enhanced by other data #CXMchatJulie Hunt
Q5: It’s about integrated marketing - advertising, conversion, retention are joined by the common thread of customer behavior #CXMChatAnnie Weinberger
Q5: process integration is one way marketing automation data is kept open and out of its own silo #cxmchatbillycripe
Q5 Two words: organization and integration. Automation is nothing unless it’s tied into the rest of your operations #CXMChatDiane Buzzeo
There's More to This Story
Organizations have been trying to understand their data for years and use it wisely. But as more and more data gets collected, things become more challenging. There are opportunities here to do learn more and do more.
Q6: Letting workers ask questions from these gigantic databases as opposed to requiring IT for each analysis will drive adoption #CXMChatAnnie Weinberger
Q6: Integration integration integration. Bringing point solutions together to close the loop on marketing optimization. #cxmchatBen Gaines
Q6 - CXM should cover all your environments. Mobile, Social, the web. Follow your customer #cxmchatTjeerdbrenninkmeijer
Q6 - Biggest opp - The Web. Marketing automation is 99% email. email! Stop creating landing pages and leverage your entire website. #CXMChatDavid Hillis
Q6 Mobile really does provide so much more in terms of real-time data and opportunity to chape the customer experience #CXMChatCoreMedia
Q6 - Don't overanalyze. Don't think that a tool will solve your CXM challenge. Iterate with data story telling. #CXMChatHippo
Q6 New ways to target leads. Data has already proven valuable with customer retention, but acquiring can always be perfected #CXMChatDiane Buzzeo
Q6: Finding an effective way to track data while maintaining a user's context across devices would be huge. #cxmchatRyan D. Lunka
Q6: Opportunity to become marketers with more time on our hands. Can't wait for the day we let analysis automated business decision #CXMChatAnnie Weinberger
Q6 The reality is that this entire discussion is getting harder to make a reality in the "do not track" world we're about to enter #CXMChatTom Wentworth
We like to thank the panelists who attended the tweet jam and offered up their advice and experiences. We asked them what their biggest challenge was and many pointed out that getting organizations to focus on the insights and outcomes over tools was critical. Of course, having the tools with the right capabilities are still important.
Join CMSWire next month when we head back into the enterprise and look at the evolution of enterprise collaboration and the intranet.
About the Author
Barb worked for CMSWire from November 2007 through October 2013. She has over 10 years’ experience as an IT solutions architect focusing on content management and enterprise collaboration. Connect with Barb Mosher Zinck:
