Big data has dominated headlines and marketing discussions for years, but it’s about to get personal. Companies recognize the massive amount of customer data at their disposal, but now is the time to more effectively collect, analyze, and act on this data to improve the customer experience and make better business decisions.
It’s imperative, therefore, that marketers personalize the customer experience. Marketers need to truly understand their customers at the individual level in order to develop targeted campaigns, create a loyal customer base, and increase sales.
Armed with the appropriate tools, marketers can analyze and use data based on a user’s interactions with the company, interests, behaviors, preferences and likes, so they can better target individuals with content they like and have a propensity to consume or buy.
The measure of success for marketers is all about the customer—satisfaction, profitability, retention, and advocacy. Understanding customers and the elements that go into their decision-making is a direct correlation to increasing loyalty and revenue.
These days, information about customers is available through a myriad of channels including social media, mobile, Internet, broadcast, etc.. But most importantly, a goldmine of data lies deep inside the systems of many organizations – call centers, CRM, banking records, and more. Herein lies the valuable opportunity for marketers to harness this data to better understand their customers’ wants and needs, and deliver more effective, personalized customer experiences.
By listening to the volume of data on customer behaviors and activities from these channels, marketers can learn individual preferences and deliver campaigns that will succeed far better than product offers they think will work for a more broad customer segment.
The result is better targeting, which leads to better customer engagement, which leads to better overall campaigns, and better relationships with customers.
Marketers have so much customer data available from which to extract actionable insight and drive significant revenue for their business. But what good is all this data if marketers are not effectively learning from and acting on it?
Data will continue to propagate and get ‘bigger,’ and only by personalizing—turning raw data into actionable intelligence—will marketers consistently produce loyal and profitable customer experiences.