Brands today operate in data-driven marketplace and the lively that has ever been. The ubiquity of devices, coupled with a civilization has changed the nature of relationships.
Technology proliferation and unparalleled choice has consumer expectations and also what brands can offer.
This new cohort of customers have earned the label of “entitled” — they anticipate relevant communications that speak directly to their own needs in any particular instant, via the most suitable channel.
The brands that triumph with a bulk of personal data and data as they feel as though they gain value are rewarded by these consumers.
How the CMO sees it
In Selligent we canvassed 108 marketing executives’ views. The results demonstrated that 67% of CMOs aren’t taking advantage of contextual data as well as the technology available.
Delving deeper, the study revealed that some entrepreneurs are waiting to make the move — 81% admitted their usage of data increase when their opponents did first .
Some marketers are actively awaiting their opponents to make the first move
This is surprising because it presents an opportunity for brands that are smaller tumultuous to acquire marketshare from leaders who are slow to embrace this new marketing reality.
Struggling to move quickly puts advertising ROI and bottom-line revenue.
Utilising data properly
Despite scepticism around data and privacy legislation, research has indicated that customers are willing to share personal data in exchange for experiences and offers, making a brand connection.
Context is key. It has the power to make or break communications.
Circumstance is key. It’s the power to make or break communications
When context has been lost, ignored or misinterpreted, it may have a lasting effect on a connection. Digital invention has exceeded consumers’ expectations of what brands can and should provide.
Communications which speak to their own own needs are expected by today’s customers.
With access to the most up-to-date customer information, and the technologies to supply messages that are personalised, marketers have no excuse for getting it wrong.
Consumers know this and a few are actively praying to interact.
Learn from background
Rewind merely a couple of decades; and purchasing looked very different. A community of consumers with a personal relationship.
People enjoyed a personal experience, quickly years and that core principle has not changed.
Entrepreneurs should still supply a personal experience
Marketers must provide a private experience and get to know their customers.
Automation and Radical digitisation means that tech providers can make this possible and scalable on a huge scale, even for manufacturers, regardless of what the channel.
Set the consumer first
Info is currently collecting on their customers, however, the key is in understanding and acting. I call this approach ‘Consumer-First Marketing’.
Marketers must invert traditional ways of working in order to create valuable and engaging relationships that meet the demands of customers that put the channel or marketer .
It moves far beyond conventional CRM information
It goes much beyond CRM data that’s often limited to historic transactional and demographic data. Marketers will need to construct a 360-degree profile at a process — that generates insight that may be leveraged in real time.
By doing this, brands may create customer experiences which are distinctive, relevant and seamless.
Beat the competition
We live in an era where customers are savvy and empowered; yet, coupled with an increasing amount of selection, rightfully makes them difficult with using traditional methods to participate.
Brands which interrupt will exude loyalty, generate customer insight that is exclusive, their organisation’s bottom-line and improve conversion — ahead of their competition.