The age of the customer is here and how! Customer perception can make or break your business. Consistently satisfactory experiences will potentially encourage positive referrals, testimonials, and 5 star reviews. On the flip-side, a poor experience can also spread through the same channels, and set you back significantly.
Marketing campaigns are continuing to become more expensive as it is getting increasingly harder to get your customers’ attention. While it is difficult to get your customers’ attention, digitization – across multiple smart devices and communication channels – gives you a lot of opportunities to have an understanding of your customer.
What does that mean for businesses like yours?
• Investment in technology: You need to invest in technology that can adequately monitor the multiple data points that are required to effectively engage the customer
• Data collection: Businesses need to take data collection seriously. Capturing multiple touch points of their customers including relevant demographic, geographic, techno-graphic, and behavioural data points – a unified view of your customers – lays the foundation for relevant marketing campaigns. A 360-degree view of your customers becomes pivotal to crafting and delivering effective marketing campaigns in the future.
• A new understanding of customer behaviour: The captured data can then be sliced and diced to unearth golden behavioural insights backed by smart analytics. This can help you fine-tune your segmentation and targeting efforts
• Churn analysis: Using various data points, you can now isolate/analyse trends that lead to customer drop-offs or inactivity
• Implementation of value-based pricing: Once you understand your customers’ historical and real-time behaviour across both web and mobile channels, you can pitch only relevant products at the attractive prices to customer segments that are most likely to purchase, increasing your chances of conversions
• Allowing AI/ML to empower selling: You can run highly targeted cross-sell/upsell multi-channel marketing campaigns, offering recommendations to customers based on the power of AI and ML.
Now that we’ve seen how the lines between marketing and technology are blurring at a rapid rate and how customer data is central to your marketing efforts, here’s what you need to do to develop a sustainable competitive advantage, right away:
Start capturing customer data, right away: There is no better time to start collecting this data than right now. Each website visit, app launch, product viewed, transaction completed etc. gets captured will providing you with the analytical ammunition for your next marketing campaign
Organise the captured customer data: Keep your data organized. Data validation is key because wrong data is even worse than no data. Avoid data silos. Have an understanding of your customer from awareness to feedback/complaints on a single holistic platform
Automate your marketing efforts at scale: Engage your customers like never before using marketing automation. Here are some of the advantages that marketing automation can deliver for your business:
• Remove human intervention in applying analytical data to marketing campaigns on the fly
• Personalise and contextualise your messaging campaigns based on customer’s attributes, demographics, and preferences
• Trigger interactions with your customers based on optimised channels of your choice to nurture customers across their entire lifecycle, at every digital touchpoint, right from acquisition to engagement and retention
• Deliver messages to the customer in a timely manner to ensure high relevance
As a marketer, a data-driven approach is critical to marketing success. And, leveraging customer data to delivery incredible multi-channel campaigns can mean the difference between being a market-leader and an also-ran!
Schedule a demo today to take the first step towards being a data-driven marketer!
