Inconsistent and unstructured data across platforms like Marketo hinders effective marketing operations, making it challenging to execute targeted campaigns, manage leads, and generate accurate reports.
This data irregularity leads to inefficiencies and inaccuracies in marketing efforts, impacting the overall effectiveness of campaigns and hindering insightful decision-making.
Fortunately, a solution exists – Data Standardization. Studies indicate that it can enhance the efficiency of marketing campaigns by 42%, providing a structured approach to managing data for improved outcomes.
In this blog post, we’ll discuss data standardization in detail, and how you can set it up.
Data Standardization
Data standardization is commonly associated with creating refined data. In the context of Marketo, it refers to the process of standardizing and structuring the data within the Marketo marketing automation platform.
The goal is to ensure that the data is consistent, accurate, and organized in a way that facilitates effective marketing campaigns, lead management, and reporting.
Here are some key aspects of data standardization in Marketo:
1. Consistent Data Formats: Standardizing data involves ensuring that data fields like names, addresses, and phone numbers follow consistent formats. For example, ensuring that all phone numbers are in the same format (e.g., +1 (123) 456-7890) helps in standardizing data for effective communication.
2. Standardizing Categorization: Data standardization involves categorizing and standardizing similar types of data. For instance, grouping various job titles under specific categories to create a standardized job role field.
Introducing New Data Standardization Feature by M-Clean
M-Clean, a customized dedupe solution, has introduced an enhancement based on customer needs and insights.
Previously, data standardization was done manually or with a script, but this new feature automates the process, eliminating the need for manual intervention.
It involves removing unorganized data and eliminating duplicates to establish a more logical data storage system. When performed accurately, data standardization results in standardized data entry.
For instance, this method can be applied to record various details such as URLs, contact names, street addresses, phone numbers, and codes in a standardized manner. Once standardized, these data fields can be easily grouped and accessed.
Advantages of Data Standardization for Marketo
1. Consistent Data: Standardized data in Marketo ensures consistency across different records and fields. Uniform data formats and structures make it easier to analyze and utilize the information effectively.
2. Improved Segmentation: Standardization helps in creating accurate and reliable segments. Consistent data allows for precise segmentation, which is crucial for targeted marketing campaigns.
3. Enhanced Lead Scoring: Properly standardized data provides a clear and accurate view of customer interactions. This accurate data is vital for lead scoring algorithms, ensuring that leads are scored based on reliable information, which leads to more effective prioritization of leads.
4. Improved Lead Nurturing: Standardized data enables marketers to create more effective and personalized lead-nurturing campaigns. By understanding customer behavior accurately, marketers can tailor their nurturing efforts, leading to higher conversion rates.
5. Reduced Errors: Inconsistent or improperly formatted data can lead to errors in marketing activities. Standardized data reduces the chances of errors in marketing communications, ensuring that the right message reaches the right audience at the right time.
6. Enhanced Reporting & Analytics: Standardized data facilitates more accurate and reliable reporting and analytics. It enables businesses to derive meaningful insights, leading to informed decision-making and more effective strategies.
7. Optimized Marketing Campaigns: Structured data helps effectively execute targeted and personalized marketing campaigns across Marketo, Salesforce, and MS Dynamics. This aids in reaching the right audience with tailored messages.
8. Streamlined Operations: A uniform data structure makes it easier to manage and handle information within and between these platforms. This streamlines operations, enhancing overall efficiency in marketing and customer relationship management.
9. Enhancing Data Integrity: Structuring data in a consistent format helps maintain the accuracy and consistency of information across systems.
Step-by-Step Guide to Setup Standardization
1. Login to your M-Clean account.
2. Go to the Standardization tab in the left menu.
3. Set aliases for the selected fields according to your requirements as follows:
4. You can add multiple values for the custom field as follows:
5. Set up the webhook in Marketo.
6. Login to your Marketo account.
7. Go to the admin tab > click on the webhooks link.
8. Click on the “New Webhook” link.
9. Now login to your M-Clean account.
10. Go to the Standardization tab > Click on the “Install Standardization Webhook” tab.
11. Copy details from there to create a new webhook.
12. You now have the capability to create a real-time campaign. Simply call this webhook using the Data Value Changes filter for selected fields when a person/lead is created.
Wrapping Up
Data standardization is the backbone of efficient marketing operations. By ensuring consistent, accurate, and reliable data, businesses can create targeted, personalized, and effective marketing campaigns, leading to better customer engagement and increased ROI.