Making Money On-line: Make the Most of Your Customer Data

Friday, 28 August 2020

Make the Most of Your Customer Data

It’s every marketing professional’s dream to turn customer data into actionable insights that inform their campaign efforts. Recent research from Forrester (as shown in the infographic below) found marketing leaders wish to use data to help:

Build long-term customer loyalty
Provide insights into customer behavior
Create a seamless cross-channel experience
Contextually personalize customer interactions

Good news—our dreams are coming true. Unified customer data management platforms, called CDPs, are giving marketers the opportunity to collect customer data from multiple disparate sources and create a single, unified database. Now, not only are we able to better “see” our customers, we’re able to paint a fuller picture of them.

Take a look at this infographic from Forrester highlighting all the ways executives are thinking about and adopting CDPs for their own marketing strategies.

How CDPs make a difference

With a CDP, marketers can use customer data to improve targeting and personalization, as well as create more relevant, helpful, and engaging content across multiple channels. Experiences become more consistent, seamless, and enjoyable for customers, decreasing the likelihood of drop offs and increasing the chances for engagements, conversions, and long-term loyalty.

Further, Forrester’s research shows that mature customer data profiles bring better business results. Businesses with mature customer data profiles are 7.9 times more likely to increase revenue by 10%. That’s something to pay attention to.

Customer data is essential

The personalization needed to win over customers and earn their loyalty depends on what you know about them. Look at your customer data. Learn your customers’ pain points and preferences. Understand their objectives, history, and behavior. Offer solutions to make their lives easier. We, as marketers, should be focused solely on how we can help the customer—and solutions like CDPs are making our jobs easier.

Watch the webcast “Building a Customer Data Strategy That Lasts” to learn how to develop deep data insights and utilize martech to keep up with customer changes. It was recorded, so you can view it anytime from anywhere.

For more information on how to best utilize customer data, read the Forrester study “Getting Customer Data Right.”