A marketing system of record or marketing source of truth (we use the two terms interchangeably) allows users to consolidate all their data into a single platform, and leverage it for to achieve marketing intelligence by applying various data applications such as KPI/goal tracking, scorecarding, dashboarding, reporting and attribution on top of the consolidated data.
Why do marketing organizations need a system of record?
Because marketing organizations are experiencing an explosion of marketing technologies that have come about in the past few years to deal with the growing complexity and proliferation of channels they have had to oversee. With over 5,000 marketing technologies available in the market, marketing organizations have a harder and harder time gaining visibility into their investments, what media efforts are truly making an impact on their customers, and which marketing initiatives are delivering positive net value.
A Marketing System of Record, does the following:
Collect. Automates the ingestion and consolidation of the marketing campaign data from different systems and different sources stretched out across different channels Reconcile/Normalize. Data consolidated into a single system need to be cleaned up, unified and normalized. Customers who may be recognized by an email address in one system, a cookie in another, and a device id in a third system needed to be reconciled into a single identity Apply. Knowledge-based applications could then be built over this robust source-of-truth for marketing data. This runs a gamut, from analytical applications such as reports, KPI measurement and visualization tools to advanced data applications such as customer journey pathing and attribution analysis
