Verisk Provides Marketing Data Solutions
Verisk’s Marketing Solutions help marketers and compliance officers implement effective campaigns with privacy at the forefront. Whether you are selling insurance, mortgage or higher education, our marketing data and insights help you meet customers where they are in their shopping journey, so you can leverage consumer data safely and efficiently to power personalized campaigns.
How to Get Buy-In for Marketing Data and Analytics Projects
If you work in a major life purchase market, you know how difficult it can be to obtain stakeholder buy-in for third party data and analytics initiatives. While you can see the vision, value, and importance of data analysis, selling those strategies to stakeholders can be tough. Here are four useful tips you can use to get buy-in for investing in marketing data and analytics:
Leverage Pain Points
As a marketer, you know just how important consumer pain points are when you are crafting a campaign strategy. The process of obtaining financial and general support from internal stakeholders is no different.
First, you need to identify and leverage the pain points of the organization or your department to get them on board with the need surrounding marketing data and analysis initiatives. Most of your company's leaders are concerned with staying relevant and competitive to continue generating a profit. Tailor your ask by showing them how the data and tools can be the solution to their problems.
Know What They Want
If you want to get buy-in, step inside the shoes of your stakeholder(s). You must see things from their perspective and paint a vision that resonates. Stakeholders want to know how a marketing data and analytics solution can benefit them, make their programs more successful, and help to achieve the company’s broader goals.
What about this project will help them meet their professional goals (learning a new software, potential promotion, etc.)?
How would a marketing data solution generate brand loyalty and a profit for the organization? One example might be that a more successful marketing program could help fill the sales funnel resulting in more sales or conversions.
If your project aids in the success of the organization, stakeholders will never forget it. If you want to get buy-in for a marketing data and analysis project, you have to appeal to stakeholder wants, needs, and goals.
Keep it Strategic and Easy to Understand
One of the most important things you can do when seeking buy-in on a marketing data and analytics project is to use language your stakeholders can easily understand. The data and technology space comes with plenty of industry jargon that can be too "in the weeds" for some stakeholders. By speaking their language, you can keep them fully engaged in your message.
Come to the table with the cliff notes version of the project at hand and be prepared to explain the value the project can generate.
Keep it strategic and avoid getting bogged down in the finer details when seeking buy-in, unless you foresee major roadblocks or are prompted for those details.
Stick with a strategic and high-level approach until you can see that stakeholders are nodding their heads in agreement.
Use Common Ground to Build Trust and Confidence
Stakeholders and executives can trust you if you can prove you share in wider organizational goals and objectives. Data analysis can be used in a million different ways, but only a handful apply to your stakeholders and the goals of the broader organization.
Focusing on and sharing the same goals as stakeholders will make it easier for them to relate to the request and trust you.
With trust comes confidence — you know the value that a marketing data solution can bring to the organization, and now it’s a matter of communicating that value to the folks who need to hear it most.
If you waiver, stakeholders will waiver more. Build trust and confidence with your stakeholders and make it easy for them to say ‘yes.’
Verisk Marketing Solutions is Here to Support Your Next Marketing Data and Analytics Initiative
Companies who don't use and invest in unique data sets aren't going to maintain the competitive edge they need to stay in the market. Enhancing what you already know about your customer with industry leading third party data can make all the difference. And while getting buy-in isn't easy, using these tips can help you win over executives and other stakeholders so you can move forward and demonstrate your impact.
Verisk Marketing Solutions’ expert team can provide you the support you need to get the buy-in and then implement data-backed marketing campaigns that enhance personalization while protecting consumer privacy.
Contact us to get started.