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  • admin 9:51 am on November 24, 2016 Permalink
    Tags: , , Deepens, , , Relationship,   

    Service Recovery that Deepens Relationship & Brand Loyalty 

    Latest imported feed items on Analytics Matters

  • admin 9:51 am on October 9, 2015 Permalink
    Tags: 2015’s, , , , , , , Relationship   

    It’s Q4. What Happened To 2015’s Promise Of Improved Customer Relationship Management? 

    customer experienceWritten by Janete Ribero, Professional Services Senior Consultant at Teradata Marketing Applications. Located in São Paulo, Brazil, Janete is the technical lead for Teradata Marketing Applications solution implementation throughout Latin America and the Caribbean. 

    2015 started with a promise of better days for marketers all over the world. There were countless headlines about digital solutions designed to easily and quickly enhance the customer experience, and the big consultancy groups declared that the new year would bring new ways for omnichannel marketing, big data and analytics to increase customer relationship management and your brand’s competitive advantage.

    Now here we are in Q4, and for many companies, realizing those promises remains a challenge. Some bought marketing technology, but still haven’t seen the ROI. They don’t know how to use it effectively to improve profitability and achieve better relationships with their customers.

    This past June, the market research consulting firm MarketsandMarkets predicted the big data market will exceed $ 46 billion in value by 2018. Clearly, companies are still eager to invest in “data.” But, do they really understand why they need to? Where is the “intelligence” behind those investments?

    And speaking of “intelligence,” I’m starting to hear more and more about “customer intelligence,” a term used to describe how all the internal and external information gathered about a customer can be put to work to improve products and services. To me, that echoes what we heard a year ago: the promise that data, alone, is all you need.  But this is not so.

    What “customer intelligence” really means is that customer data can be used to better identify buyer profiles and behaviors about a company’s products and services –if that data is gathered using the right marketing applications and analyzed with the appropriate analytics tools.

    In the article Why big data alone is an inadequate source of customer intelligence, Tyler Douglas writes about how to use big data for strategic vision, and he neatly summarizes the marketer’s dilemma:

    “For marketing departments to derive value from big data, they have to get better at leveraging social science, data analytics and consumer insights. Understanding the nuances of customer behavior—the motivations, or the “why” behind behaviors—gives us true insights. And those cannot come from a centralized and isolated big data department.”

    With that kind of data-driven, integrated marketing approach, I believe a big data investment can have a rapid return. You’ll achieve customer intelligence and a positive ROI once you can link your customer data to insights that lead to better actions and more relevant, individualized communications.

    This message applies to you even if your companies is focused on providing services to partners. Remember, your partners are marketing and selling services to an important group: the end customer. In order to help them do their job, you also need an understanding of the end customer— and that understanding can be gained through a customer intelligence program.

    Your marketing organization can provide additional business value to your company partners by helping them determine how to effectively market to the end customer. For example, you can offer partners access to your community of customers and let them pre-test marketing assets. Partners can even evaluate the success of their investment by measuring how much of an impact the campaign had on purchase intent, brand awareness or other metrics.

    Every day, it seems there are more technology tools available for use in today’s increasingly competitive marketplace. But proceed thoughtfully. You need to make sure your approach is data-drive, integrated and innovative. That is the key for success with technologies and profitability.

    (For additional source material, see 2015 Insight Innovation eXchange – http://insightinnovation.org/)

    The post It’s Q4. What Happened To 2015’s Promise Of Improved Customer Relationship Management? appeared first on Teradata Applications.

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