Data marketing is a powerful tool that helps businesses make informed decisions, target
customers more effectively, and ultimately, boost the bottom line. But with great power comes
great responsibility …

That’s why we must set the record straight on several data misunderstandings.

Now, being a purveyor of truth and common sense is a reward unto itself, but our real concern is
that these myths may hold your company back, lead you astray, or leave you disappointed. Let’s
look at the most common confusions we encounter, and offer our perspective.

Data Myth #1: More Data, Better Insights

If data is good, more must be better right?

Not exactly.

Data quality and relevance are more important than data quantity. Without the former two, the
latter will be rendered almost meaningless. So, don’t collect data for the sake of having more.
Make sure it aligns with your strategic goals, enables meaningful decision-making, and is recent
and accurate.

Data Myth #2: Some Data is Better Than No Data

While no data is certainly not an ideal position to be in, there are solutions to that. And starting
with nothing is actually a better position to be in than working from low-quality or irrelevant data.

With bad data, you risk moving in the wrong direction, drawing the wrong conclusions, and
wasting a lot of time and money on ineffective marketing strategies. While the old adage may
say “something is better than nothing” – when it comes to data, only something good is better
than nothing.

Data Myth #3: Sophisticated Data Strategies are Only for Big Businesses

While big businesses may have the resources to invest in expansive data infrastructure and
analytics teams, data-driven decision making can be accessible to organizations of all sizes.

Small and medium-sized businesses that want the benefits of data analysis without the
investment in technology and staff can leverage the tools and expertise of data marketing firms
like B2E. As one of the first agencies in the nation to join the Experian Strategic Marketing
Services network, B2E is able to provide cost-effective access to one of the largest, market-
leading sources of consumer data available.

Data Myth #4: Data Security Concerns are for IT

As regulation and consumer awareness of data privacy issues increase, proper data
management should be the concern of everyone with access to customer information.
Mishandling customer data can lead to potentially serious legal issues and can damage your
business’ brand reputation. Human error is often the cause.

But, even if your business does everything right, it’s important that your service providers do
too. “Third-party data breaches” are one of the most common sources of business data leaks,
and are why it’s so important that your service partners have secure data processes that are validated by a third-party experts, as happens during SOC 2 certification.  Organizations that are SOC 2 compliant have demonstrated a high commitment to data security and privacy that can offer increased peace of mind.

Data Myth #5: Data is All That’s Needed for Good Decisions

Data provides insights that can lead to more informed and ultimately better decisions, but it’s not
a replacement for human intelligence, experience, and understanding.

Marketing strategies and campaigns that resonate in ways that generate emotion, motivation,
and action are where human expertise remains invaluable. AI can analyze data and identify
patterns, but it can’t necessarily think outside the box or understand human behavior on deeper
levels. Ultimately, the best marketing strategies are the result of data-driven insights and human
judgment.

Data Myth #6: Data Marketing is Impersonal

While datasets and analytics might sound a bit cold, in the right hands, data-backed marketing
strategies can very personalized and foster even deeper connections with customers.

Data allows marketers to understand individual needs and preferences in a way that wasn't
possible before. The infusion of information creates opportunities for more relevant and
appealing marketing strategies that foster a sense of personal connection and individual
attention.

Data Myth #7: AI Can Solve Your Data Problems

AI has revolutionized data analysis, and the promise of its newer forms, such as generative AI,
have captured the imagination. But it’s important to recognize that AI has its limitations and
there are certain things it can’t overcome.

AI relies on data quality and quantity, so if it’s fed data that is flawed, biased, or incomplete, the
resulting insights will be unreliable and potentially misleading. What’s more, AI still struggles
with tasks that require creativity, greater context, or a more nuanced understanding of a
situation. The human touch is still required for the most meaningful and effective marketing
strategies.

Don’t let data misconceptions stand in the way of its potential to build stronger customer
relationships, create impactful campaigns, and achieve better marketing results. What have you
been wondering about? Reach out to the data scientists at B2E for the facts on how data
marketing can help your business.