Thoughts contributed by Arif Samad, Steven Silverman
The companies and brands you trust the most are successful for a reason: obviously, they’ve been doing something right. They’ve kept up with the times and produced something valuable enough to stay relevant in a changing world. You feel good about them and what they have to offer as a company, you feel personally valued by them – and you’ve more than likely pictured a particular logo or perhaps even a personal experience you’ve had as you’ve read this.
It’s not easy to be the company that comes to the top of a customer’s mind in our fast-paced, digital first world.
When we see upwards of 5,000 ads per day, your brand must stand out to be remembered.
The most effective marketing solution is to provide your customer with a buying experience that is both personalized and relevant. Studies show that 73% of customers prefer brands that use personalized information, and they’re more likely to be repeat customers. As the availability of personal data increases, digital marketing strategy must keep pace with the sheer amount of information being produced. In fact, Gartner has noted that, for the first time, CMOs are set to spend more on IT in 2017 than CIOs, necessary to interact with the boundless data coming in.
There is an endless stream of data surrounding every action or decision you’ve made today. Most of us are aware that on the other end of every click, search, and download are endless streams of data that can be pieced together to form the patterns, habits, and motivations that make up ‘you.’ Data is all around us.
The challenge is effectively using that data. Data can be a frustrating enigma, or it can be a fountain of profit. It all depends on your company. Tensions have increased between the incumbent companies of yesterday, frantic to keep up, and the companies born directly into the digital landscape, effortlessly fluent in data. This is because the interpretation of customer data into informed digital marketing strategy has become critical.
A case study in Leading Digital shows businesses that master informed digital marketing are 26% more profitable than their average industry competitors. Companies that understand and act on the data in real time will continue to be the leaders of innovation.
Take Revel Consulting, “Revel was ‘born digital,'” said Arif Samad who leads the analytics community at Revel Consulting. The Revel strategy and frameworks harness the power of data to examine the entire end-to-end experience; even from the first customer touchpoint, the metrics are analyzed and interpreted culminating in a perfected customer experience.
Commit time today to complete a Service Design Blueprint of your business portfolio.
Can you map analytics to each customer interaction within your brand’s physical and digital space?
If yes, great! Please direct message me, I’d love to discuss and share your case study.
Considering many companies are still in early stages of omnichannel to ubiquity maturity, perfection is unlikely. That’s to be expected. Use this exercise to take advantage of your data and make it work for you! If you’re not taking full advantage of your digital knowledge to create personalized and relevant customer experiences in every brand interaction, challenge yourself to use what the data tells you about your customer to build an informed experience they will be more likely to value and return to.
Customer data will be increasingly omnipresent. A lucrative future awaits the companies that can understand customer data, navigate digital marketing, and truly know their customers in such a way as to provide them with experiences they will value and remember. With the emergence of IoT, machine learning, and augmented reality there will only be more and more new data to analyze, utilize, and consequently monetize.
Now is the time to harness the power of data and perfect your customer’s experience.