Single source of truth marketing

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What is single source of truth marketing?

A single source of truth ensures that the entire organization makes its important decisions based on one single source of data. This source of data will be an integration of various data sources like multiple streams and recordings.

Marketing a single source of truth helps the marketing team to get a hold of all the kinds of marketing data they need at one point without even reaching out to the tech team. The marketing data can be ad campaigns, advertisements in newspapers and all sorts of marketing lead they generated. With all this information in one place, the marketing team can then judge their status based on the customer reach, traffic on the website, product engagement, etc. Having a knowledge of this will help them gaining insights on the areas they need to put efforts like customer, revenue and product based strategies for their future plans.

Exploratory Research Guide

Conducting exploratory research seems tricky but an effective guide can help.

Absence of single source of truth marketing

As much as we know why it is important for an organization to come up with a good single source of truth marketing, let us see what might happen otherwise:

  • Uneven workflow

When you don’t have an easily accessible single source of truth marketing in place, the marketers often have to reach out to the data analysts and data engineers to help them get the data they desire. This often leads to a longer wait time and disturbed workflow. 

  • Human errors

Marketing teams work by altering the course of data manually so that the data is made available to everyone in the organization. But it is no surprise what human interference can do to the credibility of the data. It creates unwanted biases, errors and dilutions in the data that will be going further into big business decisions. 

  • Limited innovation 

When you think of marketing, the first thing that comes up is creativity. Well, how will you be creative if you don’t know where your organization stands? It is tough to figure that out from discrete data sources and it will be risky to build the entire marketing strategy on such discrepancy. 

  • Data fragmentation

Fragmented data is not good the important business decisions. It shouldn’t be relied upon as fragmented data bring inconsistency to the decisions as well. Apart from that, it creates miscommunications between the teams with majorly different views on the same issue.

  • Missing leads

With switching data sources, it is a possibility that the marketers might miss the exact customer data that they needed. To be able to come up with new ideas and to reach out to your customers in all the ways possible, you need to see all the leads that there are. 

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Why is a single source of truth marketing important?

  • A single source of truth is beneficial for marketers as it provides all the marketing information they need in one place. They don’t have to go through various reports and studies just to know what customers think about the latest product release. They can just take a look at the recent update in the data source and find out how to improve their next move. 
  • Marketers can make SENSE of the data. They can find all sorts of patterns and repetitions in one place and know what needs to be done. When there are various data sources to study from, it makes it hard for them to understand what the data is telling. 
  • It takes a lot of time and cost to shuffle multiple data points and then come up with the best marketing strategies. A single source of truth saves the day by giving all the information on a single platter. Marketing teams can decide on new ideas regarding ads and campaigns for the future.
  • Marketing a single source of truth provides the marketer’s data that is accurate and consistent with a qualitative and quantitative edge. This is possible due to the variety of data sources that are combined into one which includes interviews, surveys, social media reviews, etc. 
  • Single source of truth marketing finally helps you determine the standing of your brand in the market and gives you insights into the trends and competition that are going on around.
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Hindol Basu 
GM, Voxco Intelligence

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