By Jeff Erickson
Find out how Oracle Data as a Service for Marketing enables smarter business.
In marketing, the notion of going with your gut isn't just old school—it's nearly dinosaur age. In the digital economy, modern marketing is driven by data—to the point where Gartner predicts CMOs will spend more on IT than CIOs in 2017, a trend accompanied by huge growth in cloud-based services, mobility, and adoption of data marketing techniques.
Businesses that want to take advantage of these trends and use data-driven marketing to fuel the best possible customer engagement have to do some prep work. Here are key ways to get started.
"In data-driven marketing, data serves as the connective tissue throughout the entire process," says Omar Tawakol, Oracle Data Cloud group vice president and general manager. "You have to find a way to manage your data on a centralized platform that's separate from your applications."
Omar Tawakol, Oracle Data Cloud group vice president and general manager.
Now, says Tawakol, marketing pros can organize their companies' internal, or first-party, data—such as website, CRM, and mobile applications data—alongside third-party intelligence about their customers and prospects. This helps define audiences across all marketing channels, and it lets marketing teams use third-party data from services like Oracle Data as a Service for Marketing (Oracle DaaS for Marketing), to layer on additional insights from hundreds of data sources.
Using Oracle DaaS with Oracle Marketing Cloud lets you use external data signals to improve ad prospecting and audience analytics. "The key lies in your ability to combine your company's first-party data with the third-party data available from Oracle DaaS for Marketing," says Tawakol.
Oracle DaaS for Marketing aggregates anonymous data from leading e-commerce sites as well as offline, online, and mobile data—to the tune of more than a billion profiles worldwide.
While first-party data is valuable in its uniqueness, says Tawakol, it's generally not enough. Oracle DaaS for Marketing gives you the ability to combine your internal data with the vast scale of Oracle DaaS third-party data, hugely increasing your prospecting reach. You also benefit from centralized and consistent audience definitions across multiple channels such as online, search, social, and mobile.
Unlock more value from your proprietary data, and enrich your applications with external data through a trusted service on Oracle Cloud.
Leverage data to drive prospecting across all media channels while providing personal, consistent, and engaging experiences. Improve ROI on spend, customer value, and margins.
Extract valuable signals from unstructured social data to understand consumer sentiments. Access more than 700 million messages daily and feeds from more than 40 million sites.
Oracle Data as a Service brings together a best-in-class data platform with the world's largest data marketplace to provide the most variety, scale, data portability, and ease of adoption.
Oracle DaaS for Marketing is a great way to blend first- and third-party data for better audience modeling. It lets you take your best existing customer profiles and look for similar audiences in even larger third-party data sets.
For example, an auto company may find that audiences inquiring about hybrid cars on its website consist mostly of females between 40 and 50 years old, a segment of the population that was not part of its initial target set, says Tawakol. The company can then use this intelligence to expand its campaign to reach the newly discovered audience. This type of analytics is a feature of Oracle DaaS for Marketing, which provides integration with specialized partners for look-alike and attribution modeling.
Many organizations are already taking advantage of Oracle DaaS for Marketing. "It's been a game changer that gives us more control over media targeting," says one customer. "We can take our data and push it to any media we want on the fly."
Data is becoming the driving force in marketing, says Tawakol. For more on what's new in data-driven marketing, attend Tawakol's session, "Practical Use Cases for Using Data to Drive Your Business," at Oracle OpenWorld 2014 in San Francisco.