Benefits and Challenges of using Customer Data for Marketing






Traditional Marketing often reaches out to customers through brochure and catalogue mailing with the hopes of evoking a positive response from the customer.
Digital Marketers take this strategy up a notch by analyzing the available customer data and thus gain insights on how the customers want to be marketed and which is the best channel to reach them. Using customer data and analyzing it accurately helps deliver personalized interactions and market the relevant products at the right time thus enriching the customer journey. This approach has a lot of benefits and its share of challenges as well.



Using Customer Data can help you:
-         Segregate your customers into your most valued and big spending customers and your first timers and occasional buyers.
-         Segment the customers better, basis their personal interests and other behavioural traits.
-         Determine the most relevant channel and time for communication.
-         Increase repeat purchases by formulating relevant loyalty programs for customers.

Capitalizing on these benefits can only be possible with proper knowledge of the challenges that come along with the use of customer data. Some of them are:

-         Data Decay – An individual’s address, job, age and other such variables could change over time and marketers either need to make sure they have the most recent data or they could also focus on data points which are less likely to change in order to avoid decay.
-         Data accuracy – Marketers also need to make sure that the data they have of an individual is free from typos and isn’t incomplete or inaccurate.
-         Capitalizing on the data in hand as swiftly as possible is another challenge and needs to be given special attention to.

Putting the customer at the center of one’s marketing strategy and leveraging analytic tools to make sense of the data collected is key to an organizations success.

References:





https://www.zendesk.com/blog/8-ways-effectively-manage-customer-data/



Comments

  1. RennerFebruary 25, 2020 at 8:29 AM

    Very well written article Akshay. Keep up !

    ReplyDelete
  2. UnknownFebruary 25, 2020 at 9:00 AM

    Very well written and explained. Good work!

    ReplyDelete
  3. UnknownFebruary 25, 2020 at 9:07 AM

    Very well written 👌

    ReplyDelete
  4. UnknownFebruary 25, 2020 at 9:44 AM

    Amazing writing

    ReplyDelete
  5. UnknownFebruary 25, 2020 at 10:01 AM

    This blog gives insight of digital marketing and it's benefits. Very well written 👌

    ReplyDelete
  6. Dylan O'ReganFebruary 25, 2020 at 10:23 AM

    Superb blog with many useful insights. Well done and great work

    ReplyDelete
  7. GleritaFebruary 25, 2020 at 10:35 AM

    Very well written article Akshay. Keep up the good work!

    ReplyDelete
  8. MelissaFebruary 25, 2020 at 1:24 PM

    Good explanation of customer data for marketing

    ReplyDelete
  9. Aishwarya VenkateshFebruary 25, 2020 at 4:32 PM

    Very well explained, thank you for sharing.

    ReplyDelete
  10. Sumesh S DasFebruary 25, 2020 at 4:34 PM

    Nice Article

    ReplyDelete

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