Put Your Customer and Your Data in the Center of Your Efforts

Marketing technology is a must for both multichannel and onmichannel marketing strategies. The MarTech explosion shows no sign of slowing down, offering marketers an overwhelming number of choices.

By the end of 2017 there were more than  5,381 MarTech solutions in the marketplace – a 39% year-over-year increase – making it no small feat to find the right partner(s). Yet, to be a leader it is imperative to use data-driven marketing practices and analytics with the right mix of technology.

In recent years, the numerous MarTech solutions in the marketplace created a large gap between innovation and adoption, but that gap is starting to narrow across marketing departments throughout the U.S. Earlier this year, marketers reported having increased MarTech budgets and fewer company road blocks for adopting new tech.

As these budgets and expectations grow, so does the need for a diverse MarTech stack. The single-vendor suite solution that used to be the norm has gone out of style. Today, more common are best-of-breed marketing technology stacks made up of multiple sources.

The desire to add to the bottom line isn’t the only reason why there are so many solutions and companies willing to invest in them. The real driver of this is actually … the customer. “The customer” wants what he/she wants, when he/she wants it. The customer is in control to a much greater extent than ever before. This requires getting creative with money and content strategy.

Marketers must consider the customer journey as they zigzag across device types, using different consumption and purchasing behaviors. This presents an ever-growing opportunity to be present, and more relevant to customers. Ultimately this pushes marketers to fulfill expectations of a unified multichannel brand experience, no matter how or where the customer purchases your products or services. Of course, this cannot be accomplished without utilizing you know what – data.

Be effective with great data
Great marketing happens when data goes from being fragmented, to platforms that support a centralized repository that every department can access in real-time — IT, Marketing, Customer Service, Executives, and anyone else who is directly involved in the customer experience. You must keep information up-to-date and automate the process across departmental applications. This integration cuts down on duplication and manual entry. It ultimately should lead to lower prices, more convenience, and an improved buying journey for your customers.

With omnichannel marketing, the goal is to deliver the right message at the right stage of the buyer’s journey. In order to provide that experience, don’t just consider digital. Take a look at incorporating print into your strategy.  Find a partner who harnesses data ensuring your print campaign can be tracked, monitored, and measured just like digital channels are handled.

Data-driven decision making
Not only does data improve your customers’ experiences, but according to (PwC) research, highly data-driven companies are three times more likely to report significant improvement in their decision-making processes.  Surprisingly, their study from a few years ago found that 62% of executives still relied on experience and advice, than data to make big decisions. The most successful people use the data and analytics at their fingertips to back up their intuition to make quick and smart decisions.

Utilizing or harnessing the right data is not an easy accomplishment, but It is imperative to encourage your team (and yourself if you aren’t already) to grow more comfortable analyzing data and to understand where it fits within your marketing processes. At T/O, we offer solutions to help marketing teams successfully use their data to reach more customers and provide a connected experience for today’s digital consumers.

And … because I always have so much to say :), I’ll have more thoughts in next week’s blog where I will touch upon automation, and the best channel for acquiring new customers.

Stay tuned…