In recent years, marketers have been working with more and more data. The challenge for the marketing team is not that they don’t have the sufficient data, but that they struggle with acquiring and using the data. Sales and marketing data is dispersed across various systems and as a result, it’s hard to get a full picture of what’s going on in the business. IT teams have to overcome the challenge of combining these pieces of information. Linking the data from various sources is not an easy thing to do. Today, I will explain how to solve the problem of marketing data with the help of Snowflake.
Snowflake- Challenges of marketing analytics
Marketing analysts are facing a number of serious challenges. Marketers know very well the MarTech information technology tools that support the execution and analysis of marketing processes. Companies often have tens or even hundreds of marketing applications, and it happens that they aren’t even connected with each other. It is also often the case that companies migrate applications from one to another. They integrate data in many systems, where they struggle with transferring the historic data to the new data platform. The data usually isn’t consistent, harmonized, and properly prepared for migration. In marketing analytics, it’s very hard to fully integrate marketing automation platforms with the sales platforms. As a result, many companies cannot build a full picture to recreate the whole customer journey through the purchasing process.
Marketing analysis indicators
Despite the challenges, marketing analytics has become more important than ever. Nowadays, it’s a trend that isn’t present only in large corporations. All companies, regardless of their size or industry, must develop their marketing analytics capabilities. The objective is to build competitiveness in the market and perform at the highest level. Marketing must be based on the data to draw correct conclusions and make sound decisions.
Snowflake has been aiming to become the most oriented marketing team in the industry. It developed two key indicators:
-predicting return on investment in real-time to connect all marketing programs,
-develop scalable solutions for all types of models to demonstrate the effectiveness of marketing activities.
This approach is new and innovative, and its objective is to shift away from the old practices of B2B marketing analytics. To solve the problems relating to the marketing analytics and achieve better business results, it’s recommended to use Snowflake Data Cloud.
Snowflake- marketing based on data
At the early stage, marketing analytics in Snowflake was in general the same as in every other company – they analyzed past events. Everyone started with building advanced dashboards and reports to answer such questions as “What happened and why did it happen?” Snowflake took a step further and decided to prepare answers to such questions as “What will happen and what can we do to make it better?” That’s a crucial difference.
To achieve this, you need to do 3 things:
– Define the goals and priorities with people who analyze the data on a daily basis.
– Develop a clear action plan and execution of the goals through mutual communication during the process.
– Use the Snowflake data cloud to download the data from various systems and integrate it on one, uniform data platform.
Snowflake Data Cloud
Snowflake marketing analytics is powered by Data Cloud. Raw data is collected through Snowflake Secure Data Sharing and data engineering from over 100 different data suppliers, including LinkedIn, Facebook, Marketo and Salesforce. To structure the raw data, you need to transform it every time. Snowflake also uses the most advanced data science models to build marketing attribution and define the scoring of the activities performed. Once the data is prepared, you can send it to Tableau, Marketo and Salesforce to provide practical information for those who work with such data. Based on this, they can optimize campaigns and support an increase of revenues.
The advantages of implementing Snowflake in the marketing department
To sum up, Snowflake Data Cloud allows us to integrate all data and use insights to increase conversion rates, and to significantly improve the effectiveness of activities. From the cost perspective, we can better control the budget in the relevant area and at the relevant time. We are also able to increase the employees’ productivity and reduce the limitations resulting from accessing the data. When taking into account the associated risks, Snowflake Data Cloud supports the compliance with the GDPR. Data is managed in the cloud environment and supported by the best-in-class data protection technology and access control based on the rights in the organization.
