Mobile devices, social media, live events, the Internet of Things... today's culture is more connected than ever before. Conversations happen everywhere, business happens everywhere, data capture happens everywhere, and we need to mirror that connected spirit in our technology.
This is especially true for marketing organizations, which are becoming increasingly more instrumental in the customers' overall experience and impression of a company. In a world of uninterrupted connections, both socially and technologically, CEOs are depending more and more on their marketing leaders to connect the dots of their customers’ buying journey, and prove their ROI along the way. From sales data to services data, social media to brick and mortar, today's marketers need a high-def image of their customer – they need to tap into data living outside their marketing systems, and build a strategy with longevity.
But all too often, the technologies that marketers depend on fall short of delivering valuable insights to inform their strategy. They provide only a piece of the puzzle because they don't consider all the data sources that are available to them, leaving them with blind spots of crucial information. Missing is the depth and clarity around who the customer is, and what they are looking for. In fact, in a study conducted by Econsultancy, 66 percent of marketing leaders say siloed organizations prevent them from getting better use of data in marketing. A fragmented system leads to a fragmented view of the customer, and ultimately leads to an incomplete strategy and lost opportunities. A complete and connected analytics platform needs to be a fundamental part of any strategy where data is at the forefront of insights.
Multiple marketing channels – both traditional and digital – need to be properly targeted and have a consistent experience for the customer. They need to be able to adapt to changing market conditions and absorb nuances in shifting customer behaviors. And marketing leaders need to be able to see these signals in a way that is simple and easy to use. Advancements in visual analytics have made this not only possible – but accessible to everyday business people. Marketing leaders can now visualize patterns and direct investments to the most productive programs and campaigns and have confidence in their marketing spend. They can not only prove, but improve their ROI and focus on what matters most. And, they can do it themselves.
But what if you could take it a step, or even a leap, further - what if you could predict what your customer would respond to? What if you had such a complete profile of your customer that went beyond standard demographic profiles? Suppose you now had the ability to ask questions you’ve never asked before - one that included touch points outside your marketing systems, like geospatial information, mobile app usage, and social media activity. That is the sweet spot for innovation – merging massive data points across multiple marketing channels with data from other parts of the business, and leveraging predictive capabilities to stay ahead of your customers – and the competition.
This scenario is here today, and Oracle Analytics is the platform that gets you there.
Part 1 of Analytics for Marketing Blog Series.