In a fast paced, data driven world, businesses often grapple to identify the right metrics and methodologies to assess and accentuate customer experience campaigns. It is time for brands to embrace sales and marketing approaches based on data and advanced analytics, replacing intuition with actual acumen.
By building an analytical culture, organizations can combine vision with fact-based decisions to improve returns and relationships; whilst targeting the most effective channel mix. The best businesses are now using the ‘information approach’ to jump-start both their digital and real-world marketing campaigns.
Customer data can emerge from anywhere, but not all contribute equally. Businesses thus need to understand the data source, its context and have the ability to organize and ultimately activate the data. According to Forrester, a clothing retailer effectively used behavioral and location data to learn that young women (age 13 to 24) window shopped at their stores only to purchase lower-cost alternatives elsewhere. This led the retailer to create a low-cost line of clothing specifically targeting these shoppers.
Analytics is more about anticipating with an agile ability to adapt to constantly changing customer communications and trends. Take the top three tips to adopt analytics accurately:
- Upgrade your technology: Think ahead about the tools and technologies you will need in order to be business fit.
- Create cross functional connections: Take the real-time insights gained and connect them from the command center to other channels to better leverage them for lead generation and more.
- Build an internal trinity: Form a fortitude link between marketing, finance and analytics to align marketing efforts with business goals.
Analytics is a powerful tool when used in the right manner with the right partner. In a data rich environment, enterprises and employees need to stay well informed. Knowledge becomes the key to generate leads, track ROIs, assess and assist the customers, and achieve business success.
Our analytics abilities are platform agnostic. We would love to hear from you and know how we can make it yours as well.