Tips and tricks: Turning data into smart marketing strategies. Data today is the currency powering modern enterprises across the spectrum, and it is no surprise that it is at the heart of what we call an exceptional customer experience (CX). Astute data intelligence is catalysing the modern experience wave, one that is focused on efficiency in customer understanding as well personalisation of the end user experience. The experience business is centred upon channelling a wide range of data sources to provide insights that can help make intelligent, informed decisions on how to reach and retain customers. Let’s understand some tips and tricks on how data can be translated into effective marketing strategies, for brands to deliver superior customer experiences. Fusion of data and creativityIn today’s fast-paced market environment, brands cannot demand attention, but need to earn it.
Historically, the best answers for brand growth have always come from a combination of imagination combined with an acute focus on data. Marketers are slicing audiences into thinner, micro-segments, categorising consumers basis their refined and personalised tastes. A smart integration of data with creativity here stands to deliver on greater and prolonged consumer attention. Businesses that can seamlessly integrate data and creativity with purpose will edge the ones which only excel at one. Creativity without data is largely ineffective and data without creativity would lack customer attention. Quality as critical as quantity.
Modern marketing focuses on efficient utilisation of different data points to help brands understand their audience better and consequently serve them in ways that delight. A big part of data led marketing has come to be defined by the quantity of data an enterprise has at their disposal to draw precise insights; however, what we’ve not prioritised so far is the need to have equivalent, if not more, emphasis on quality and veracity of data at hand. As personalisation takes precedence, marketers need to look beyond the stats and towards understated behavioural patterns of their customers to develop a viewpoint from where customers are seen as more than just a data-set to deliver experiences that forge long-term relationships. Engagement over conversionsConversion rates have been one of the key metrics for defining success when it comes to implementation of data-driven marketing strategies.
However, as consumers become more aware and, as a result, marketing strategies evolve, it’s important to prioritise engagement and experience driven measures to define the success of a campaign. It’s time that brands and marketers start deploying data to quantify and develop an understanding of various facets of developing an engaging, wholesome user experience—one that is not only focused on converting new customers, but also driven towards adding value to the existing customers lives and ensuring a prolonged engagement cycle with the brand. The future for data management is intuitive and razor-sharp when it comes to understanding the needs for personalisation. With better insights and most importantly, collaborative aspects, it must respect the customers' need for privacy. And brands are already working towards this. For instance, Adobe, Microsoft and SAP recently came together to create the Open Data Initiative, an open alliance that seeks to empower the enterprises’ mutual customers with a common platform, to enable a seamless flow of information while giving users more control over their own data. What’s going to be a key element in crafting exceptional customer experiences of the future will be concentrated efforts towards greater data integration—developing a 360- degree understanding of the new age, digital first customer—and the consequent crafting of a seamless, tailor made omni-channel experience built to impress across touch points—online and offline. The author is Head of Marketing at Adobe India.