Businesses and individuals have come to expect a highly personalised experience when interacting with companies. Customers demand to choose when, where and how they interact with brands and purchase goods and services.
It is no longer enough to simply offer customers multiple channels. To retain their competitive edge businesses must listen, understand and respond to customer needs in a timely manner and deliver the best experience possible, tailored to the individual. Data optimisation is a key approach to achieving this.
Organisations can gather customer data from a range of sources including websites, apps, social media and email communications. The best brands consistently leverage their data and use it to reveal actionable insights that help them make improved business decisions and deliver unrivalled customer experiences.
Data is an invaluable source for any business thinking about when to run sales campaigns, what locations offer the best opportunities for growth or where to find employees.
Many marketers however, are still failing to make the most of the insights this information can provide them. They continue to collect more data without analysing what they already have. Optimising and analysing your data is the most important step, as it drives true customer engagement.
Optimise Data For Better Customer Insights
Transactional data, for example, lets a business offer recommendations to customers based on their past purchases. This can often be an incredibly valuable way to connect with consumers on a personal level and upsell products or services.
For the retail industry loyalty programs are typically the most valuable source of transactional data, allowing them to provide incentivised offers based on personal preferences. If shoppers consistently buy online, discounts should be offered via email. If they consistently shop in-store, businesses should present them with similar items based on previous purchases via vouchers sent through the post.
Transactional data can also be combined with location data to deliver even more specific insights. Location intelligence technology maps customer data to help businesses reveal patterns and trends about what, how and when customers are buying. Businesses are now using location intelligence to aggregate all of their data sources and build more detailed customer profiles.
Retailers’ loyalty programs for example often also incorporate geolocation technology to help drive engagement and revenue. Via a program which consumers opt in to, stores are able to recognise when a consumer is in the vicinity of a store in real-time. This means they can send them instant text messages offering discounts on items similar to those previously purchased.
Use Data To Win Back Opt-Outs
When a customer opts-out of communications it is difficult to reinitiate a relationship. Front line employees and customer service representatives are still likely to have interaction with these opt-outs. Empowering them with data to identify opt-outs means they can gather valuable information on why the customer opted out, and create new opportunities to reinitiate communication.
Respond To Consumer Needs In Real-Time (Marketing Automation)
Consumers notice and appreciate the companies and brands that acknowledge, listen and respond to their needs in a timely manner. Being able to deliver the right message, at the right time, in the right way is helping businesses stand out from competitors, creating customer loyalty and increasing revenue.
Today’s consumers expect a rapid and personalised response to queries or requests. With so many customers and so much data available however, it can be a challenge for businesses to keep on top of their personalised communications. Marketing automation technology can offer a solution by helping organisations centrally control customer communications, including transactional, on-demand and interactive documents. Messages can be automatically delivered through virtually any channel, including print, web, email or SMS reducing the need for manual responses.
Effective customer relationship management requires an ongoing commitment, but will reap many rewards. An engaged customer will continue to interact with and buy more from a company over time. Businesses should therefore see every interaction as an opportunity to strengthen current relationships or establish new ones.