CUSTOMER DATA FOR MARKETING – BENEFITS & CHALLENGES


Customer data drives the business to build relationships, to emerge new ideas and to improve the existing situation too. A better understanding of the customer data is the strongest tool for marketers.


BENEFITS

1.      Customer Segmentation

According to a research about customer analytics, majority of the organizations are catching the client’s data over various channels. Those data create better relationships and increases conversion rate. As a result of this, the marketers provide relevant data at the funnel top.

2.      Identifying customer interest

Data helps the marketers to align and define the need of the customer. Through proper channel of communication process, is the best way to let the customers know that the business cares their interests. The customer engagement research reveals the increase of 14.6% positive mentions in social medias using customer analytics.

3.      Maximizing market campaign results

Data collection helps the marketers to know what the customer likes and how they interact with it. The web analytics and mobile analytics will facilitate it. As a result, marketers get ideas to present the right content to the right person at right time which in turns effortless to find the required products. It’s like create a win/ win scenario for both the buyers and sellers.

CHALLENGES

1.       Maintaining accountability with customers

The report shows an increase of 8.1% customer satisfaction and 11.2% customer win back rate annually by the proper use of customer data. It’s always a challenge to use the data which the way customer appreciates.

2.      Maintaining high quality data

Another challenge is to maintain the data hygiene among marketing channels by avoiding silos and conflicting records. For good data practices, proactive steps like alerts for outdated lists and ongoing checks for duplicate customer and other quality control measures are required.




References
Henderick, K. and Henderick, K. (2020). There are 6 challenges every data-driven marketer faces. Here's how to manage them. - MarTech Today. [online] MarTech Today. Available at: https://martechtoday.com/here-are-6-challenges-every-data-driven-marketers-faces-233004 [Accessed 22 Feb. 2020].
Minkara, O. and Minkara (2020). Using Customer Data for Marketing: The Good, Bad & Ugly. [online] Aberdeen. Available at: https://www.aberdeen.com/cmo-essentials/good-bad-ugly-using-customer-data-for-marketing/ [Accessed 22 Feb. 2020].

Comments

  1. Unknown22 February 2020 at 09:36

    Easy to understand..ty

    ReplyDelete
  2. Unknown22 February 2020 at 09:36

    The informations provided here are very useful and informative.

    ReplyDelete
  3. Unknown22 February 2020 at 09:37

    Thanks for the reference 👍

    ReplyDelete
  4. Saritha Binumon22 February 2020 at 09:53

    Precise but highly informative.

    ReplyDelete
  5. Nimisha22 February 2020 at 10:26

    Very well presented and all point are covered . Good job dear.

    ReplyDelete
  6. Salmansha22 February 2020 at 10:39

    Well explained. Good work

    ReplyDelete
  7. Sradha Sudarsanan22 February 2020 at 10:46

    Thank you sruthy for your valuable time.

    ReplyDelete
  8. Sradha Sudarsanan22 February 2020 at 10:49

    Hi Sherna, thank you. With pleasure

    ReplyDelete
  9. Unknown22 February 2020 at 11:05

    Even though there are many challenges in using customer data, big data will resolve it.

    ReplyDelete
  10. Haleema Rahim22 February 2020 at 11:22

    Great and insightful article

    ReplyDelete
  11. Unknown22 February 2020 at 19:35

    Welldone sradha. I heartly appreciate your effort. Thanks for the information.

    ReplyDelete
  12. Unknown23 February 2020 at 06:38

    The right data regarding the needs of the customers will help R&D as well as product and services wastages also

    ReplyDelete
  13. Sruthy23 February 2020 at 06:47

    Very Informative & Well Explained

    ReplyDelete
  14. Unknown23 February 2020 at 06:52

    Thank you for valuable information

    ReplyDelete
  15. Unknown23 February 2020 at 06:54

    Awesome work

    ReplyDelete
  16. Unknown23 February 2020 at 07:02

    Thanks for the valuble information ........ It give much more clarification. .

    ReplyDelete
  17. Shubham Mehta23 February 2020 at 10:52

    Very well written post.

    ReplyDelete
  18. Clinton Onyeugbo23 February 2020 at 12:48

    good job.

    ReplyDelete
  19. Unknown23 February 2020 at 21:30

    Excellent work

    ReplyDelete
  20. Colin Almeida24 February 2020 at 10:07

    Customer data is important for marketing and you have explained how we can implement it efficiently.

    ReplyDelete
  21. Carla Martins25 February 2020 at 04:30

    Very good content, Sradha! Well done

    ReplyDelete
  22. Oksana Shevchuk25 February 2020 at 07:44

    Clearly explained benefits and challenges when dealing with customer data!

    ReplyDelete
  23. Sumesh S Das25 February 2020 at 16:08

    Very Informative

    ReplyDelete
  24. Jamie Foxx5 January 2022 at 23:06

    Thank you for sharing such a useful article Ma'am. I had a great time. This article was fantastic to read. Continue to publish more articles on

    Data Engineering Solutions

    ReplyDelete
  25. CXcherry20 April 2022 at 22:33

    This comment has been removed by the author.

    ReplyDelete

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