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How to overcome the three big pain points of data

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DataFor many brands today, data has become the most valuable asset, and marketers are equipped with a variety of ways to collect it – from social media listening tools to in-store data, CRM software, call centres, mobile usage, web analytics and third-party sources. There is a wealth of data at their disposal.

Although data-driven marketing offers exciting, new opportunities for brands, there are numerous challenges and obstacles that can hamper a marketer’s ability to succeed. We carried out research with 85 marketers asking them to vote for their biggest data challenge from the following three common pain points:

  1. Getting data fast enough to act
  2. Data in legacy systems – no single or unified customer view
  3. Generating insights from your data

This article will explore these three pain points and look at how digital marketers can mitigate these challenges in their pursuit to deliver a more customer-centric, cross-channel approach.

Getting data fast enough to act

Having a lot of data is inconsequential – it is the quality of the data and how you choose to use it that counts. The third most common data challenge for respondents was ‘Getting data fast enough to act’ (22%).

The digital world has made consumers impatient. They want immediate gratification and fast responses. Marketers are under pressure to offer speed at scale and deliver faster business models so that they can react instantly to changing customer behaviours. The focus on speed has changed everything – not only do brands offer same-day deliveries, but they must also move at the speed of culture – with activity such as positive or negative sentiment on social media forcing brands to get in the fast lane.

Brands that want to connect with modern customers need to use data at scale and at speed, and to do that they must digitise the entire customer life cycle and collect data at each touchpoint. However, data gathered in different stages of the customer life cycle is one of the reasons that internal silos keep being created.

For brands to become technologically and socially agile, they are joining forces with smart technology partners that offer digital and consumer marketing expertise and fast dashboard reporting aligned to relevant data as it comes in.

Generating insights from your data

There was a time when marketers relied on their gut feeling when making decisions. Today, the data is there but access to it is difficult, meaning marketers are not happy.

The second most common data complaint was being able to generate meaningful business and consumer insights (32%). This suggests that while marketers are inundated with data from numerous sources, they are struggling to extract empirical evidence and actionable information to drive decisions and create meaning from it.

Data becomes valuable only when it is translated into actionable insight. However, the sheer volume of data acquired means that many of the insights that could be extracted are going untapped.

The key to dealing with these issues is having a clear understanding of what you want to get from your data. Savvy marketers are finding ways to collect behavioural data from interactions and then extrapolate insights to improve the customer experience. This data challenge is often alleviated by balancing data with insights and technology.

Various marketing tools and technology solutions exist that provide powerful analytics to unlock insights and deepen the brand relationship with customers.

Data in legacy systems – no unified customer view

Having data in legacy systems with no single or unified customer view was the most common response, with 46% of respondents citing this as their top pain point.

This is hardly surprising. The customer experience is becoming increasingly complex because of the proliferation of devices and channels; furthermore, organisational data is highly fragmented at several levels, leading to siloed data and duplicate customer records in different databases. This creates data quality challenges and disjointed marketing efforts as no one is fully responsible for the overall picture.

Consumers expect brands to have a complete picture of all their interactions with them and to use that information to tailor communications and make the buying process effortless. Brands therefore cannot overlook the importance of delivering an integrated experience and having a unified customer view. By integrating all available data about each customer into one single view, you can deliver an effective customer experience across all channels.

Being able to combine data gathered from all channels into a unified database will improve customer experience and maximise return. While technology can make this happen, companies also need to look at how they organise themselves and how to get siloed cross-functional teams to work together.

It is important to note that for many marketers having a unified customer view is not a realistic aim, as the financial and resource investment may not be justified.

Smart data builds relationships between the brand and the customer

Today’s customers manoeuvre across multiple channels, devices and networks, so it is vital that marketers find ways to create meaningful relationships with them.

All three of the data challenges discussed above are magnified by the flood of data now available, and each stems from brands wanting to provide customers with cross-channel interactions, however and whenever they choose. Thankfully these challenges are not insurmountable. More and more brands are tackling their data challenges by turning to data management platforms – designed to make sense of the vast volumes of data generated to deliver timely, relevant messages across every channel.

Marketers realise that to overcome data challenges they need to focus on real-time data connectivity and assemble data from multiple origins into a central hub. Cross-channel marketing technology platforms see through all the data, with some providing a comprehensive set of services that support enterprise marketers at scale.

The effective use of data is central to cross-channel marketing, and with the right technology marketers can have a holistic view and management of all their data – drawing insights from individual customer interactions with their brand to build better relationships with their customers.

Chini Ugboma is content marketing manager at Cheetah Digital

cheetahdigital.com

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Marketing Day: Blockchain myths, digital billboards & Belgian court fines Facebook

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Here’s our recap of what happened in online marketing today, as reported on Marketing Land and other places across the web.

From Marketing Land:

Recent Headlines From MarTech Today, Our Sister Site Dedicated To Marketing Technology:

Online Marketing News From Around The Web:

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Bold kids looking for adventure are featured in new campaign for Universal Parks & Resorts

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The kids featured in the new ‘Grow Bolder’ campaign for Universal Parks & Resorts are ready to take off the training wheels and go on adventures.

The national brand campaign for Universal Orlando Resort and Universal Studios Hollywood showcases Universal theme parks as destinations for kids who are ready to take the next step and up their vacation quotients.

Created in partnership between Universal Parks & Resorts and David&Goliath, the campaign features a cinematic, black and white spot featuring kids who are empowered and eager to stand on their own, speak for themselves and boldly take on the respective parks.

We see a young wizard in Harry Potter’s world ready to wave a wand, plus a kid who isn’t afraid to venture in with the dinosaurs of Jurassic Park, or wield a ray gun with Minions, go face to face with King Kong or save the planet with Transformers.

“This campaign captures the essence of what we offer our guests every day,” said Alice Norsworthy, executive vice president and chief marketing officer for Universal Parks & Resorts. “Our theme parks offer the kind of vacation experiences that allow families to vacation together and to grow together.”

Added David Angelo, founder and chairman of David&Goliath: “Now more than ever kids are growing up fast, and we wanted to be a part of that growth. But instead of telling kids ‘you don’t have to grow up,’ we let them speak for themselves. We see fearless kids boldly challenging themselves in the most cinematic way. And we show that what you experience at Universal Parks is more than a day of smiles, it’s a chance to truly grow in ways beyond what you imagined.”

Throughout the campaign, Universal Parks & Resorts and David&Goliath will introduce new initiatives and creative on all platforms from social to digital to ambient, all amplifying the brand’s ‘Grow Bolder’ message to kids and families around the world.

The spot airs during the last week of the Winter Olympics on NBC and its affiliates.

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Cristiano Ronaldo refuses to part with his suitcase in spot for American Tourister

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Real Madrid's Cristiano Ronaldo is starring in a spot for luggage brand American Tourister in which he causes quite a stir at an airport for refusing to separate from his suitcase.

Created by TBWA\Spain, which has been tapped by American Tourister to lead the brand's global campaign efforts this year, the spot encourages travelers to ‘Bring Back More’ from their trips. According to the agency, Ronaldo personifies this tagline since he “brings back more memories, experiences and memorabilia from every trip.”

Directed by Augusto de Fraga, the spot features Ronaldo strolling through an airport with a bright yellow bag. When an airline attendant asks him for his luggage at the check-in counter, he smiles and shakes his head before jumping onto the conveyer belt alongside his suitcase. He then proceeds to stay with his bag throughout his entire journey – even during the flight and all the way to the baggage carousel – as fans gawk and snap pictures.

Video of Cristiano Ronaldo – American Tourister TVC

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On social, American Tourister is asking fans to guess what’s in Ronaldo’s bag by posting a photo of their best guess along with the hashtags #BringBackMore and #AmericanTourister. Those who submit ideas will have the chance to win a trip to Russia for two or some of American Tourister’s products.

According to TBWA\Spain, the brand will be releasing different activations with the football legend in the upcoming months.

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