One of the most important assets a company has is its data. The most successful businesses have mastered data collection, processing, and analysis. They’ve also learned the importance of making that data available and usable by everyone. The date can be used to improve your marketing strategy.
Data democratization ensures all data is easily accessible by everyone in a company. When all employees can work with and understand data, they can make more informed decisions that lead to productive results in their respective roles.
Before we offer tips on starting the data democratization process, let’s look at its benefits and how you can use it to improve your marketing efforts specifically.
The Benefits Of Data Democratization
Your marketing strategy can benefit a lot from data democratization. Your internal marketing team and how you market to your external audience can both improve with the help of data democratization.
Inspire A More Productive And Collaborative Marketing Team
For your marketing to be successful, the team behind it needs to be strong. And a massive part of ensuring your marketing team is strong is ensuring they’re collaborative and productive not just with each other but with every department.
Data democratization enables everyone to get involved and use their various technical and soft skills, like communication, emotional intelligence, and project management, to work with each other in different ways and extract valuable insights from data.
House More Than One Master Of Data
Companies that don’t implement data democratization typically have a gatekeeper for their data, whether it’s an entire IT department or a single data analyst. Unfortunately, this approach slows your marketing team down, as they have to wait until they’re granted access to the data they need and ask for help interpreting that data.
Data democratization eliminates the gatekeeper for data and allows you to house more than one master of data. In other words, your marketing team can access the data they need when needed, and each person will be trained to extract meaningful insights from that data.
Better Understand Your Target Audience
Collecting target audience data is integral for successful marketing. For example, when your marketing team publishes different content, copy, and accompanying branding visuals, you find out what resonates with your target audience and what doesn’t.
With this information, you can really dive into what your marketing looks like from your target audience’s perspective. As a result, you’ll better understand your consumer and can optimize your marketing to reach them cost-effectively.
Making this data accessible to your entire organization allows you to take advantage of a larger pool of perspectives on who your target audience is and what they need. You’ll then be able to create a stronger emotional connection with your target audience and develop personalized marketing campaigns for them.
How To Start The Process Of Data Democratization
If the benefits of data democratization resonate with you, use this concise guide to start the process of data democratization in your business.
Look At Your Current Data Collection Tools And Processes
The first step in data democratization is looking at your existing data collection tools and processes. Without a full grasp of where you currently are with data collection, analysis, and access, you won’t be able to improve like you want to.
Answer the following questions to study your current data collection tools and processes effectively:
- Who has access to your data?
- Where are you housing your data?
- Who is adept at extracting meaningful insights from data?
- How is your marketing team, in particular, accessing and leveraging data?
- How are you turning meaningful insights into actionable steps for improvement?
- What’s your process for collecting and distributing data to appropriate team members?
- Which software and tech tools are you using to gather, process, store, and analyze data?
Analyze Your Company’s Workflow
It’s also essential to analyze your company’s workflow to determine how accessible your data is in each department and how data supports each team.
How many departments do you have in your company? The number of people that are in each department, & what are their respective roles? How does each department access data and use it? Is cross-departmental collaboration enabled?
Also, analyze your marketing team’s workflow. Look at how each team member uses data to enhance their work and how access to data encourages or discourages better collaboration, communication, and results.
Thoroughly Research Data Democratization Tools
Once you look at your current data collection tools and processes and analyze your company’s workflow, it’s time to define a more concrete plan for implementing data democratization.
You can start by thoroughly researching data democratization tools. Ask fellow business owners what tools they’re using for data democratization. And get your team involved in the research process.
Any tools you choose should support your data democratization goals and your team’s unique needs and talents.
Implement Ongoing Training And Support
According to a survey done by NewVantage, “Leading companies continue to identify culture – people, process, organization, change management – as the biggest impediment to becoming data-driven organizations – 92.2%.”
It’s imperative to create a culture that supports data democratization and data collection and analysis generally so that it’s positive for your marketing team and company overall.
You must make ongoing training and support for data democratization available to your team. Everyone should understand how to access data. They should be educated on ethical data collection. They should also be trained to pull insights from data and convert that knowledge into actionable steps.
Training your employees on the right way to leverage data democratization is the key.
Data democratization may seem complex, but implementing it in your company doesn’t have to be difficult. Use the tips above to execute data democratization and gain significant benefits for your marketing strategy.
We hope this article about how data democratization can help improve your marketing strategy will do just that. Please contact us if you want to start a project or have questions about improving your marketing strategy. Of course, you can call us to take over your SEO or marketing altogether.