Big data has opened up a world of possibilities for marketers, the problem is that customers now expect much more from them. Gone are the days when including the consumer’s name in an email was UAE Phone Number List considered the quintessence of personalization, now CMOs must understand who their consumers are, know their habits and discover what, how and when they want to see on their different devices.
The good news is that there is a lot of data available to get all that information. The only thing missing, according to a new study by the CMO Council is the ability to manage it. As the researchers explain: “The UAE Phone Number List amount of data available to marketers today is both a blessing and a curse. Consumer expectations rise when they reveal more information about themselves, and most companies are not equipped to be able to respond with a better and more personalized experience. ”
New digital tools and technologies have opened a multitude of channels to be able to listen to customers and gather information about them, and most companies are aware of this. Three-quarters of marketers analyze the web to gain a better understanding of consumers, and sales and CRM data were also used by 68% of them. Then came the UAE Phone Number List customer satisfaction surveys (57%), and social networks (53%), also used by most of those surveyed. In addition, in the case of the largest companies, all the percentages increased.
However, despite having access to a large amount of data about customers, the challenge is in managing to aggregate all that data to build a 360-degree perspective around the customer, something that most companies are failing. And without this, efforts to personalize and improve the customer experience are lame. Only 3% of respondents say that the different data sources are fully integrated and aligned, with 17% acknowledging that they are only integrated in some cases. 48% reveal that they collect and analyze all the data separately, while 10% consider data flows too complex to integrate them completely and 21% say they lack the slightest alignment between the different data sources.
Taking this into account, it is little wonder that only 16% think that they are providing experiences that really meet what their customers expect or that 66% are not quite sure whether or not their marketing efforts hit the mark or not. When it comes to evaluating the success of your efforts to achieve consumer engagement, revenue (38%) and campaign results (30%) metrics are trusted by the largest number of CMOs. While the former can provide some valuable information about the buyer’s habits, the latter simply serve to analyze what worked in the past, without actually providing information about the direction in which customers are already walking.
Only 3% of respondents say they have excellent levels of understanding and predictive knowledge about customers, and the majority (57%) define their knowledge as “means” or “working on it.” As a result, only 5% of marketers are able to predict their customers’ actions and respond in a relevant and real-time manner.
And what are CMOs planning to do to improve this? More than a third (38%) of those surveyed plan to invest in predictive analytics platforms. And the fact is that their goals are ambitious: 6 out of 10 plan to connect hitherto fragmented campaigns to achieve a more cohesive customer journey through all the steps of the process, and the same wants to offer more personalized experiences, but for this they will need to improve first. the management of your data. Other goals for the future are to expand engagement channels and offer relevant and real-time offers.