Author: Tramayne Monaghan CAs(SA)
Do your Data-Driven Marketing efforts feel like a shot in the dark? It doesn’t have to be that way. With the power of today’s abundance of data, brands can use a measured and data-driven approach to build an agile and compelling customer experience. According to Tiffany Perkins-Munn, Head of Data and Analytics at J.P. Morgan Chase, […]
Do your Data-Driven Marketing efforts feel like a shot in the dark? It doesn’t have to be that way. With the power of today’s abundance of data, brands can use a measured and data-driven approach to build an agile and compelling customer experience.
According to Tiffany Perkins-Munn, Head of Data and Analytics at J.P. Morgan Chase, this isn’t the old way of marketing. Data-driven marketing starts with collaboration and cohesion between all areas of the company, including marketing, sales, and operations.
Combining these capabilities through the lens of innovation ensures companies deliver the best experiences to their customers.
Data-driven marketing isn’t just about acquiring new customers but also expanding the relationship with existing customers. For both groups, data creates a holistic view of customer expectations and how they want to engage with the brand, which helps move towards a personalized and relevant customer experience.
In today’s world, brands have access to an incredible amount of data. The question is how to manage and aggregate that data to understand customers’ needs better and get ahead with proactive offers.
But with so much data, it’s easy for brands to get overwhelmed. Perkins-Munn says to start small. Basic questions, such as identifying your customers, their needs, and their behaviors, can direct companies towards the most relevant data and provide a complete view of their customers.
With that basic level of understanding, companies can then create automated processes. This streamlined, data-driven decision-making allows marketers to understand customers in a meaningful way and offer products that are personalized to their needs. To get there, start with the data and think through the customer data to make the journey more impactful and meaningful. Perkins-Munn leads her team in a connected customer experience by capturing all interactions along the customer journey, including every contact with an agent, how it was resolved, and what impact it has on the overall experience. Those touchpoints allow marketers to adapt and improve so that the experience is constantly being refined to best connect with customers.
If data-driven marketing seems too difficult, start small. Pick a group of customers and aim to understand who they are. What data do you need to understand who they are and how you can deliver a better experience to them? Then talk to the people who own that data so you can stitch together helpful information. Eventually, you’ll be able to break down silos, understand customers, and distill the most critical data to streamline and automate marketing. Data-driven marketing is a process that requires continual evaluation. Start small and upgrade to more sophisticated insights and programs with time.
The data is right in front of you. Leveraging the power of information can take your marketing efforts from a shot in the dark to a home run.
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Blake Morgan is a customer experience futurist and the bestselling author of The Customer of the Future.
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