Because marketing is mainly responsible for and focused on its own efforts, it may not see where a lead goes once it is collected for the company. This is why customer data from multiple departments and sources should be integrated into one big data management strategy.
In addition, leveraging third-party data sources can help companies predict what products customers in a specific industry will like. This can help shape both marketing and sales strategy and outreach. By using the right platform to collect all external and internal data into one place, you can see from which source a customer originates (for example, social media) as well as their average sales cycle and location. A centralized source of your data is beneficial to all departments.
For instance, if your digital marketing department sees that the average sales cycle of a customer is 12 weeks, but its campaigns usually only run for six weeks, it needs to look into lengthening campaigns to capture more leads within the normal sales cycle.
Integrating data into one platform helps you make better predictions, according to Doug Camplejohn in an article for CIOReview. By analyzing lots of data simultaneously, you can predict sales, customer rate of return, and several other metrics that can influence sales and marketing goals.