In our latest edition of The Credera Brief video series, Credera Principal and MarTech expert Greg Gough shares a four-step approach for unlocking the value of customer data.
Unlocking the Value of Customer Data
Organizations face the common problem of a wealth of underutilized customer data fragmented across their enterprise in silos. With today's avalanche of omnichannel customer data, garnering actionable insights from disorganized customer experiences risks painting an incomplete picture or the wrong picture entirely.
To best unify and activate data, we've found that successful organizations follow a common four-step approach:
Step 1: Unify Customer Data in a Persistent Repository
Leverage identity resolution software to stitch together the known and anonymous data fragments into a 360-degree view of customers.
Step 2: Micro-Segment Customers Based on Their Digital Behaviors
Utilize artificial intelligence and machine learning algorithms to predict next best actions.
Step 3: Orchestrate Customer Experiences Across Channels
Place the right content at the right time using the right channel to drive higher levels of engagement and conversion.
Step 4: Measure the Customer Journey Along Every Touchpoint
Optimize offers, content, and your media budget based on up-to-the-minute insights.
We recently saw this four-step approach generate success in our partnership with a global pharmaceutical company. The company was struggling to derive timely consumer behavior insights without all the needed customer data and marketing analytics unified in a common repository. By combining paid and owned media data into an in-house repository, they significantly compressed the time from customer data collection to insights to value.
If you’re looking to unlock the value of your customer data, consider implementing these four steps. Learn more about harnessing MarTech to create extraordinary customer experiences.
Interested in learning more? Watch Part 2 here.
The Credera Brief
At Credera, we believe the toughest business challenges are best solved by a team—a team who works together to share knowledge to accomplish their goals.
We created The Credera Brief series to distill trends and ideas from Credera leaders and experts. These short-form videos share different insights and perspectives across the topic spectrum from MarTech and innovation to strategy and technology.