Creating a unified database that delivers on its objectives and ROI is a massive undertaking. What are the make-or-break elements? Here’s what we uncovered when we put that question to AD and database marketing executives. The reasons behind media companies’ growing focus and investment in integrated customer databases are no mystery. If having a 360-degree view of customers and prospects was once a desirable goal, the online revolution—with all of its simultaneous potential and competitive implications—have made it a survival imperative. Data integration is the key to achieving the truly targeted marketing capabilities that maximize cost efficiencies and drive new audience and advertising revenue streams online, offline and in combination.
But as many sophisticated publishing companies have found over the years, creating a unified database that delivers ROI requires far more than sheer willpower and the ability to invest in systems and human resources. Success requires not only commitment to appropriate investments, but a clear vision, leadership, coordination, expertise on many levels, and discipline from inception through every stage of development and implementation.
To say that there is “no one solution” is to greatly understate the reality. The specific revenue-generating/cost efficiency objectives and challenges of b-to-b and consumer companies certainly differ—albeit less than was true in the pre-Internet world. Moreover, the optimal solution for each company obviously depends on its business model, existing data scenario, existing and desired revenue streams and goals, and initial and ongoing investment capabilities, among other factors.
The good news is that, whatever the company’s size, needs and goals, cost-effective unified database capabilities are likely within reach given a disciplined approach. This is true in no small part because of the range of options and solutions available today, in-house, off-site and hybrid. In-house options range from off-the-shelf solutions to building highly sophisticated customized systems, while outside options range from using traditional fulfillment houses’ internal or partnered solutions, to providers with new-generation relational systems that offer integrated traditional fulfillment and cross-channel environments, to partnering with one of the huge data management and business intelligence providers and tying the database to legacy fulfillment systems.
All of that said, Audience Development recently probed a sample of b-to-b and consumer audience development and database professionals experienced with these initiatives, asking them to identify the make-or-break elements and share some of their best advice.
Defining the Mission (Or, How Are We Going to Monetize This?)
Achieving internal consensus on the core missions and drivers for a database—the objectives that can realistically monetize the investment as well as longer-term goals—is the single most critical determinant of ultimate success or failure. And obvious as this might sound, it’s often the most difficult.
