It takes months to find a customer and just seconds to lose one, as the saying goes. These days, it might be more like milliseconds. The average cart abandonment rate is 70%, with shoppers giving up on their purchase at the first sign of inconvenience. How can you become a CX leader and create personalised experiences when you have so little time to grab people’s attention? Your best chance may lie in connecting every part of your organisation (C2 Research) – and putting...
Customers share more information than ever with companies. Actually, around 90% of the world’s data was created in the past two years, and most of it’s linked to individuals. And in return for sharing this data, customers want innovative, hyper-personalised experiences. Those businesses hoping to meet these steep expectations are working to first gain control over this data. And then they’re focussing their innovation efforts on people’s real-time needs.
There will be 163 zettabytes of data in the world by 2025 but just 3% of it will be analysed, according to Seagate/IDC. So it seems most of us are still drawing on limited datasets to serve our customers. What could we achieve if we used the vast amount of data at our disposal better? If we fully map audience behaviours and needs, we could move beyond serving groups of customers. And instead, treat customers as individuals.
Good data makes marketers smile, but managing that data can send a chill down the spine. Many of us see it as complicated, perhaps something that stifles creativity. But it’s also the foundation of a 360-degree customer view. And without that, marketers have little chance of delivering the personalised experiences their audience expects.
Everyone agrees GDPR has changed the digital marketing paradigm. In the process, it’s also changed the marketing game—providing smart marketers an unprecedented opportunity to shine. While seeking unambiguous and continuous opt-in from customers, marketers have the obligation (and privilege) to take scrupulous care of customer communication. Those that do this well will reap big rewards.
Every marketer wants to build trust in their brand, because it fuels the business. But while marketers are increasingly using data to build and measure reputation, they often ignore that in the same way a defective product can undermine their efforts, a data breach can be catastrophic
Data security is seen as a drag: it’s complicated; it stifles a marketer’s creativity; and it’s IT’s baby anyway. Sound familiar? The truth is that data security drives every aspect of the technology revolution that is transforming marketing. Marketers need to not just take responsibility, but take control.