• November 5, 2015

Today’s Enterprise Must-Have: Data-Driven Marketing

Enterprise marketers increasingly rely on data and analytics to personalize the customer experience, foster one-to-one engagement, and improve brand loyalty. In fact, according to a recent KPMG survey of C-level executives, 92 percent of enterprises are using data to gain greater insight into marketing performance, and 50 percent report increased sales as a result of that effort.

Simply put, data-driven marketing is modern marketing. The insights created by this approach can help enterprises better understand where customers are, what they care about, who they’re influenced by, and how they want to be engaged. And when that information is woven together, it can open the door to the kind of one-to-one marketing experiences that foster lasting customer relationships.

For that to happen, however, there are a few foundational elements that must be in place to ensure your business is equipped to capture, evaluate, and implement the right data-driven insights:

  1. Cross-department cohesion: For data-driven marketing to work, it can’t be the domain of just one department. While the CMO might own the client experience, he or she will need technology to power and enhance that experience. As such, it’s critical that the CMO and CIO work harmoniously to drive fluid interactions that keep customers coming back. If either department acts alone or if there’s a misalignment of goals, the enterprise will struggle to make improvements to the overall customer experience.
  2. Organizational flexibility and real-time analysis: Customer behavior and preferences are constantly changing. To keep up, the enterprise must be capable of ongoing transformation. Real-time data and ongoing analytics are critical to creating that flexibility, as is having an uninterrupted flow of insights that can be used to reshape or accelerate the customer experience. Ultimately, the more responsive your marketing and customer service are to real-time customer information, the easier it will be to deliver powerful one-to-one experiences.
  3. End-to-end perspective: The biggest mistake enterprise organizations make is thinking about customer interactions in silos. This isn’t how customers view their experience. Instead, buyers view their engagement with a brand as a series of compelling experiences across a variety of channels, touch points, and stages. As such, CMOs and CIOs must work together to evaluate the holistic customer experience and find ways to seamlessly move a client from one stage of the journey to the next.

According to a recent global review of data-driven marketing, 53 percent of marketers say their inclination to embrace data-driven marketing is fueled by a need to be more customer-centric. That number is only going to increase as data becomes easier to collect and analyze. As that happens, however, enterprise organizations cannot ignore the elements above.

Without departmental cohesion, organizational flexibility, and a holistic view of the customer journey, even the most comprehensive amount of data won’t be enough to help the enterprise take steps toward delivering a more individualized customer experience.

Like this story? Read more about empowering the data-driven enterprise here.