Marketers are overwhelmed with the amount of customer information available to them and are struggling to put the right strategies in place, according to Teradata Marketing Applications marketing manager, Asia Pacific & Korea Ally Burt, who told B&T too many marketers are getting it wrong.
The explosion of customer data means it has never been more important for marketers to concentrate more on mass personalisation. However, it seems marketers are overwhelmed with the amount of customer information available to them and are struggling to put the right strategies in place.
Customers now have greater power than marketers because there are so many options for online interactions, from social channels to websites as well as mobile and email channels. With all this information available, marketers are working harder to tailor campaigns to individual needs.
The key premise behind individualised marketing is to ensure every interaction you have with the customer is relevant for them as an individual.
Interestingly, consumer surveys have shown 63 per cent say mass personalisation makes them numb (1) and 99 per cent say they’re willing to share personal information for greater rewards or individualised offers (2).
So there’s no excuse not to get personalisation right.
Teradata Marketing Applications recommends four key steps to delivering the messages your customers need:
1. Integrate and understand
Only 37 per cent of consumers say their favourite retailer understands them (3).
To build that understanding, you need to gather and connect customer data from all available channels to develop a 360-degree customer view. It’s important to unite what you know about customers today with the data they continue to share: especially in the digital world.
2. Analyse and discover
By using data analysis, you can gain rapid insights that reveal what drives consumers’ actions and what makes them engage.
Analysis combines what happens with why it happens to build a comprehensive view of each consumer as an individual. Based on this information, you can decide whom to contact, when, and with what offer.
3. Act and optimise
Take your customers on a journey from anonymous to known, so you can see individual customers more clearly. Bring insights to market in highly-individualised marketing campaigns through an efficient and optimised marketing team.
4. Execute and deliver
Deliver individualised messages to customers with a consistent experience no matter which channel a customer chooses to interact with. An individual experience feels as though the message has been handpicked and delivered at the right time, via their chosen channel.
What’s the secret?
To get the kind of comprehensive and relevant knowledge about your customer that lets you stand out from your competition, you need an integrated view of your data. This should include a traditional marketing view of the customer and access to real-time insights based on digital information.
Once you have established an integrated view of the data, you can perform deep analytics to gain insight into your marketing performance. Once this process is complete you can make fact-based predictions and decisions about where to allocate marketing resources. Then, the sky is the limit.
And if you’re thinking you might resonate a little too much with the bunch of marketers getting it wrong, fear not – there’s a way you can get on top of your game with ADMA snazzy range of courses.
1) Economist Intelligence Unit, 2014
(2) Survey: 99 Percent of Consumers Will Share Personal Information, Marketing Land, 2015
(3) The Consumer Conversation, Econsultancy, Stefan Tornquist, April 2015