Strategic Integration: 10 Business-Building Tips
Ten ways that companies can use integration and integration-related strategies to build business.
If you're looking for an integration ally, drop some doughnuts off at the marketing department and have a chat with the CMO.
Ninety percent of marketing leaders want more and better integration between off- and online data, according to a recent survey of 376 marketing executives by the Kern Organization, a direct marketing agency. "The 2010 Mid-Year MarketingTrend Study" is available for free download.
It's not just about integrating on- and offline data. Rob Thurner, mobile consultant, trainer and speaker for the Institute of Direct and Digital Marketing, points out that companies also need better data integration to support a multi-channel marketing strategy. Otherwise, companies will miss an opportunity, he told BCS.org.
In fact, they've started outsourcing some of the marketing work to third parties. Get this: 43 percent are outsourcing as much as one-fourth of their marketing budget.
Chief marketing officers aren't the only executives thirsting for information in a sea of data. A 2010 IBM/MIT Sloan Management Review survey of 3,000 executives found 60 percent had more data than they can effectively use. A more recent IBM survey drilled down on this issue, querying 1,700 chief marketing officers across 19 industries and found that 71 percent say their organizations aren't prepared to manage the explosion of Big Data.
Besides improving data integration between on- and offline sources, one way IT can help provide context to marketing expenditures is to integrate that data into the supply-chain planning process, recommends Jeff Karrenbauer, president of INSIGHT, Inc., a supply chain management software and consulting firm. Karrenbauer told Enterprise Apps Today:
Include marketing expenditures, which include costs, resource limits and anticipated demand impact of proposed marketing initiatives, into your supply chain plan to maximize corporate profitability. By doing this, companies [can] identify which marketing campaigns should be implemented and which should be avoided, the optimal target customers, channels and products for each campaign and the corresponding optimal procurement, manufacturing and distribution requirements, all in light of supply chain costs, capacities, service requirements and the max profit objective.