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Welcome to my blog, my name is Paul Dunay and I lead Red Hat's Financial Services Marketing team Globally, I am also a Certified Professional Coach, Author and Award-Winning B2B Marketing Expert. Any views expressed are my own.
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Being able to track real-time data is key and is absolutely changing the landscape of how we track marketing performance but the critical element is a robust CRM that can attach response to the customer profile so we know what the data means. It seems that we (marketers in general including myself) talk about it lot, but if we do not have the infrastructure to track performance it is not a social media issue alone, it is a marketing infrastructure issue. I still think many organizations live in the “we marketed and we sold stuff” mentality and really can not track the sale – or life of the sale – back to specific actions. I think a good CMO is one that can grasp the full purchase life cycle and know where/how social and other campaigns may fit and understand how to monitor the success of them all with a solid CRM strategy. Getting tied to the success of a specific tactic is a very dangerous place to live.
@Jami
I totally agree – realtime data for the sake of realtime data is not a solution. Matching that to a CRM database in critical if you ever want to get to “attribution” which is what I think we (marketers) are all searching for right now. Marketing is becoming more measurable so finding a way to tie a tactic back to sales is more important than ever.
Great comment and thank you so much for your perspective.
@Paul, my experience corroborates all your findings here. Funny, I observe that marketers still assume they must practice their craft in the pre-digital-social vacuum. The “social media red herring” has everyone thinking that “social” is fun and cute, so they don’t notice the in-depth, specialized conversations that are happening in plain view, and very relevant to B2B and industry specialists. Now there’s no excuse for “pre-validating” marketing assumptions with real clients and prospects. In case useful, I laid out a process B2B marketers can use to use social business practically here [http://bit.ly/b2bmktgsbopp]