When it comes to truly understanding your customer – connecting with them and meeting their needs for a positive customer experience – it’s all about the data, and the insights it can give you.
In a previous video, digital marketing expert Mike Lempner laid out why data-driven marketing means more relevant conversations with your customers by getting “the right message to the right person at the right time on the right channel.” But how do you make that happen?
As Mike explains in the video below, gathering, rationalizing and integrating data from across channels enables companies to develop a clear, complete picture of their individual customers and those customers’ individual needs.
Watch the video now for Mike’s insights on how marketers can do more than analyze interactions after they happen and instead respond to consumers’ needs in real time to deliver better customer experiences.
Why Activating Data for Real-Time Insights Enables Better Customer Experience (CX)
As Mike explains in the video, getting the data “is foundational for data-driven marketing.” That starts with getting all of that insight-laden data from across channels and touchpoints, then using it to build a complete picture of your customers and their unique needs so you can work out how best to meet those needs.
Meeting your customers’ needs is, in turn, the foundation of providing good customer experience, or CX. As we’ve previously written, “Customer data is key to understanding your customers and in turn delivering CX strategically.” And what’s the point of that great CX?
Improving customer experience leads to more customer satisfaction and loyalty – and satisfied, loyal customers reward businesses with greater profitability.
Why Data-Driven Marketing Requires Robust Data Governance and Management
Data-driven marketing presents companies with both a great opportunity and a hefty challenge. That there are so many channels available for customer interactions – social, web, mobile, in-person, and more – means that there is a lot of data for companies to manage.
And if data is siloed or otherwise hard to access, your data-driven marketing efforts will suffer:
The most obvious and straightforward integration challenge that many marketers face is data residing in individual silos throughout the organization…
This disjointed data environment restricts marketers from having a complete view of consumer activities, and limits the amount of information available for audience definition and insights. It also restricts the types and amount of information that can be used by other consumer-facing systems to customize messaging, offers and experiences.
Data-driven marketing success does not require endless volumes of any old information, however. It means having the right amount, type and quality of data.
Gathering customer data is the first step. Then, marketers must curate, organize and manage that data, with robust data governance, to be able to trust and use it for customer insights. Ensuring data quality includes considering:
- Source: Which customer channels or touchpoints generated the data?
- Process: How is the data collected and governed? Where is it stored?
- Reliability: Is the data accurate, or could it be corrupted or false?
- Timelineness or freshness: How recently was the data collected?
How to Be More Than a Marketing “Monday Morning Quarter-Back” with Real-Time Insights
It’s all about the data – that is, the right data that your company can use to generate genuine, actionable insights to improve customer interactions in real time. As Mike says in the video, however, “It’s one thing to solve data analytically…It’s something else to do it operationally.”
Yes, having technology like data warehouse or integrated platform is important for secure, efficient data collection and storage, but it’s not the most important factor for data-driven marketing. Generating insights is not the most important factor for data-driven marketing, either.
Making those insights “actionable in real time” is the key to increasing marketing effectiveness.
Marketers need a good platform for real-time data activation and analysis. Having access to real-time insights means your company can better understand and respond to what your customers want and need. That’s crucial for providing good CX across channels and platforms, and the whole point of data-driven marketing.
Missed the last video featuring Mike’s insights on why data-driven marketing means more relevant conversations with your customers? Watch it here.