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Martech expert unpacks the true cost of messy Customer Data
Customer data is the primary need for today's businesses for product personalization. How can this data be structured to derive value? If you know your customers so well, then why do you keep treating them like strangers? It’s a conundrum marketers, brands and retailers face every day – and a challenge they are desperate to solve. In its simplest form, the issue stems from the cost of messy Customer Dataor rather ‘dirty data’. This fragmented data is muddling their efforts to get a clear view of who their customers actually are.
Consider another incredibly common scenario: your brand just received a new online buyer called Victoria. You send her your welcome series. At the same time, another in-store customer called Vicky hasn’t purchased from you in four months, so you send her discounts persuading her to shop with you again. Here’s the kicker — Victoria and Vicky are the same person.
Data data everywhere, but where is the personalisation?- Customers provide businesses with a wealth of data — from loyaltyprograms, to transaction history and email engagement. But the tricky part is making sense of it and then putting it into action. Quality data fuels consumer business and opens the path to delivering personalised marketing experiences. However, companies can’t personalise campaigns when they don’t know who their customers are.
Not knowing your customer costs more than you think - The cost of not knowing your customer is high. More so than annoying customers with promotional emails for products they already own, blasting them with ads for clothing they don’t like, or placing them on hold for 45 minutes as a customer service representative tracks down their details when they want to return a pair of shoes; this disconnected view of the customer is impacting the bottom line – to the tune of US$11 billion, in some cases.
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3 Ideas for Building a Better Loyalty Program
Building a better loyalty program is a goal that every organization should establish. How can businesses create and supercharge loyalty programs? Whether you have an existing program or are looking to create one. There’s no one place where customers expect personalized and real-time engagement more than Ideas for building loyalty programor subscription services. If they aren’t getting personalized customer experiences, like they will elsewhere from another company, they will take notice and you risk losing a valuable champion of your brand.
Understanding your customer base requires a deep knowledge of their first party data, and, more often than not, many martech tools integrated into your tech stack to support your acquisition of this knowledge. Here are a few ideas for how to show your most loyal customers that they are individually important and help you remain increasingly knowledgeable about your base.
CX Ideas to Supercharge a Better Loyalty Program-
Send out personalized notifications for when it’s time to update their subscription preferences, and subsequent reminders if they haven’t done so before the deadline- Toeing the line between being informative rather than pushy is difficult, however, taking the time to personalizethese messages to consumers’ interests, such as reminding them that they need to make purchasing decisions and highlighting products or services that match their profile, often helps make this distinction.
Push out alerts for special offers related to their unique buying habits- Everybody loves a sale and receiving a personalized offer is even better. Make your loyal customers feel special by tracking their purchases and browsing habits and create custom offers that reflect their interests! Better yet, align their online behaviors to their in-person actions. This shows your customers that not only are they important, but they are worth putting in some extra effort.
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Rewiring GTM strategy with Customer Success
GTM ensures you get to the right customers, but now revamp it to deliver delightful experiences; so your customers come back for more. Your company is focusing on a new product, new customer segment, or entering a new market altogether; GTM is the key. This article will elucidate the role customer success plays in your GTM strategy. Now, let’s read. A Go to Market plan helps you reach out to and engage your ICP and convert them with ease. But the landscape is shifting, and there’s something foundational driving this change- customer success.
The Scaffold- Your team should support customers, keeping their needs at the top of the priority list. Start with the product you’re promoting, where the customers can get stuck using the product, what are the common challenges and pain points, and more questions that will ensure the launch pans out well. Launching a new product or expanding into new markets requires a lot of investment- both in terms of money and effort.
The Purpose - You don’t want to baffle your customers with your actions. A GTM plan is specific; it answers all the questions your audience may have about the product/brand launch. When you understand your customer, everything becomes streamlined in terms of planning and execution. B2B has long been about account management. Now it’s becoming more about the customer. Customer successis the new competitive advantage.
Touchpoints- It makes sense to optimize the touchpoints that serve as unique brand interactions to enhance customer satisfaction. You can easily integrate them into the operational flow, but it misses the bigger picture. You need to look at your GTM strategy from the customer’s perspective. Wear their shoes and look at the world from their eyes. Touchpoints have their significance, but it’s the overall journey that matters more.
Are you missing out on modern marketers' needs in the digital era? Want to stay updated with Martechtrends? Check out Martech Newsfor such regular updates.
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Martech Interview with JR Sherman on Event Marketing
JR Sherman highlights in an Martech interview on event marketingtrends and why is it critical to prioritize event marketing in your martech stack. The level of customer commitment to engage in virtual or in-person content for hours or days offers unique insights into content preferences and purchasing cycles. RainFocus is an experiential software company that integrates data management, marketing automation, and strategic event management within a single platform.
What makes RainFocus uniqueis that it’s led by industry veterans who know the challenges of B2B sales and marketing and have been a part of the last two-plus decades of event marketing, predicting upcoming trends and crucial innovations much easier. Showcasing how an end-to-end event engagement platform can completely change how you plan and host events, choosing a platform for your event channel vs. purchasing apps and tools for each event can rapidly enhance and accelerate your overall marketing strategy and company’s growth.
An integrated event marketing platformis the leading provider of real-time data on customer preferences and interests, providing continuous insight to accelerate engagement and buying cycles in conjunction with traditional digital marketing strategies. Eventsplayed a far more significant role in marketing strategies and customer relationships than most gave it credit. Because of the precise level at which marketers can gauge engagement and interest within events, marketers can now seamlessly use event marketing and digital marketing to develop relationships and automate personalization at scale.
About JR Sherman- JR Sherman is the CEO of RainFocus. With more than 20 years of leading highly impactful service and SaaS businesses, Sherman is highly regarded for his expertise in SaaS, events, marketing and experiential marketing.
About RainFocus- RainFocus is a next-generation event marketing platform built from the ground up to capture, analyze, and harness an unprecedented amount of data for significantly better events and conferences.
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Martech Interview with Faisal Galaria on AR in Marketing
The AR industryis developing and evolving day by day, with constant innovations across the space. In an Martech Interview on AR in Marketing. What are the best use cases of Augmented Reality in Marketing? The core to creating engaging experiences in AR is not only the process of building something memorable but creating something meaningful.
Some of the most effective marketing use cases of AR can be seen across the CPG industry. AR turns physical objects – be this a tube of Pringles, a bottle of wine, or a packet of M&Ms – into each item’s own media channel. This is made possible with Marker Tracking technology, which enables users to activate an AR in Marketingexperience simply by scanning an object or surface with their phone.
User engagement driven by augmented reality campaigns is off the charts and continues to majorly impact brands and advertisers. The benefits of AR adoption in marketing can’t be understated, but they can be quantified. To understand why AI is so important for customer engagement, you need to consider two key trends. Brands using AR across their marketing campaigns are seeing significantly heightened engagement rates and dwell times.
About Faisal Galaria- Faisal Galaria is the CEO of Blippar, a leading technology content platform specializing in augmented reality. Blippar’s vision is to enable anyone to create their own original immersive, 3D experiences. These experiences can be shared across the internet, apps and social media, and can be accessed from any smartphone or head-mounted device.
About BlippAR- Blippar is a leading technology company specialising in Augmented Reality and Computer Vision (AI). Blippar’s vision is to enhance everyday life with Augmented Reality and give you more from the world you see – more entertainment, more information, more value.
Are you missing out on modern marketers' needs in the digital era? Want to stay updated with Martechtrends? Check out Martech Newsfor such regular updates.
Check out our Martech Interviewsfor stories from the industry experts that share their business journey with tips and strategies to achieve career success!!