Data is everywhere. As marketers, we use it to create new customer relationships and deepen existing ones.
With the abundance of data that's out there, it’s getting more difficult not only to acquire customers but to find the right data that can make a positive difference for your business. It should be the goal of all marketers to find better, not bigger, data that will fulfil your marketing needs and help you exceed your goals.
Determining what exactly is the right data for your goals is no easy task. But it's a critical component of being personal in customer relationships.
Offering that personal touch is central to building customer loyalty. According to research by our colleagues in the US, 80% of consumers are more likely to do business with a company that offers personalised experiences.
As you continue to evolve your data strategy to create personalised experiences, here's what you need to consider.
Be direct
You need to be clear and focused with your data strategy. There are thousands of consumer attributes available, so you need to determine which makes the most sense for your campaign. Remember to be consistent in all channels, both offline and online.
For example, if you’re a retailer and you know that shoppers' spending increases by 24% when they’re offered a coupon, be sure to provide a direct offer in the channel in which individual consumers interact with you most.
Take action
Once you’ve determined the right data, you have to do something with it. Put a plan in place for your campaigns and be consistent with your offers. Having a consistent data strategy helps to create a competitive advantage for your brand.
According to research carried out in the US, 66% of consumers say they’re more likely to switch brands if they feel they’re treated like ‘a number’ rather than an individual. This means being consistent as you market to each individual. Keep a holistic view of all the offers being presented to customers across your brand so you’re able to take the right action that’s personalised and relevant to their specific needs.
Find the truth
Data helps us determine the truth because numbers rarely lie. So use it in a way that allows you to be true to yourself and others. You need to earn your customers' trust, so always get a holistic view of your customers and use the same data in all channels to create relevance and consistency. If you have data with proven results, use it across your channels.
If you use different data in different channels, it could lead to competing offers that create confusion for your customers, which affects their trust in your brand.
Be accountable
Data is an investment. Remember to hold yourself and your team accountable for your data marketing initiatives and make sure you can prove your return on marketing investment and spend. Do your research, too. Don’t settle for data that you think will drive success for your marketing objectives.
Data can fuel your marketing success. It ensures that your messaging, content and campaigns are relevant. And, relevancy is essential. Data is truthful, too. So by performing analytics and modelling, it will help you establish trust.
Now, it's time to ask yourself, is your current data strategy meeting the needs of your brand? If the answer's no, get back to basics and try following some of the tips we've shared today.