Unified Customer Data is the fuel propelling digital transformation during Covi19. Marketing teams need to tackle the rapid increase in competition, navigate through new marketing interaction channels, and get their message through to their audience who have a short attention span. To do this, teams needs a single source of truth, a martech system that helps them create advanced segmentation, run AI and ML models, and delivery an in-moment personalized experience across multiple touchpoints.
Let’s consider the example of a popular cosmetics brand. An interested buyer is surfing your e-commerce website to purchase a new set of lipsticks. The customer’s profile shows her age, location and past purchase history. This data can be used to tempt the buyer by showing the latest launched lip color line as the right choice. The buyer might be shopping for herself (persona: Fashionista), or she may be purchasing something for her friends (persona: work friend) or placing an order on behalf of her mother (persona: Middle-aged working woman). The buyer can fit into any of these roles and it is up to the marketers to choose the right persona and cater to the customer.
Data without context or time will fail to yield optimal personalization results. In fact, poor personalization is one of the leading causes for customers to abandon their cart and move on to the next search, in an ecommerce site. We need to infuse both art and science into personalization in order to win and retain the customer. The whole exercise is time consuming that requires to make some changes in the conventional process to reap the benefits of integrating real-time data visualization, analysis and activation.
Marketing channels have emerged over time with different objectives, which means they are operating in silos by design. Each channel contains tiny fragmented details of the customer profile, but no channel contains all the details in one place.
Download Point of View to read more
