The technology empowering marketers to feel confident about customer data
As a marketer, you know that data is everything.
But a report from CMO Council in 2022 found that although 91% of marketers know the importance of data, only 55% are confident in it. This is a concerning statistic. Businesses that lack confidence in their data risk missing out on opportunities to drive growth.
Marketers need real-time customer data insights to create effective campaigns
With so much data to sift through, many marketers struggle to pinpoint reliable insights and translate them into actionable strategies. They often end up delegating the responsibility of analysing customer data to other teams. But this only takes marketers further away from their data and the insights they need to succeed.
According to Jutta Langer, VP of consulting at GfK, “if you don’t have the right data insights, you will find it hard to deliver a consistent customer experience, and you’re more likely to miss out on opportunities because you don’t see the signals”.
So what’s the solution? It’s time for marketers to take control of their data by investing in the right tools to make it happen.
Using data capture tools for better customer insights
The first step to getting control of your marketing data is to make sure it’s all in one place. Many businesses fall into the trap of creating data silos, where information is held in different places and doesn’t talk to each other. Marketers must make sure their data collection is easily accessible and creates one version of the truth.
However, most businesses do not have the time, budget or resources to build effective data collection systems internally.
That’s where investing in data capture technologies like White Label Loyalty can help.
How can loyalty technology help marketers collect first-party data and get reliable customer insights?
Our loyalty platform offers a range of data capture technologies that help you enhance your existing data or build up your data collection capabilities. Additionally, loyalty programs help brands collect customer data across multiple channels and stages of the customer's lifecycle journey.
For businesses that want to collect first-party data, methods such as receipt scanning and card linking can gather insightful customer information.
Everything you need to know about...
Everything you need to know about...
Businesses can also integrate their CRM, ERP or ePOS system to get even more insight into their customer base, whilst keeping all their data in one place.
Marketers don’t need to waste time searching through different databases just to see what customers are doing. Combining 1st party data from different sources allows you to create a 360-degree single profile of each customer.
Once you have data collection methods in place, it’s time to turn that data into insights.
In today's data-driven marketing landscape, getting insights from your data is crucial to success. Marketers need a deep understanding of their customers and their behaviours in order to create effective marketing strategies.
Loyalty technology can analyse data for marketers and help them gain insights into their customers that they may not have been able to discover on their own. Our platform also allows marketers to completely customise charts and graphs to make the most out of their data. This allows users to create their own dashboard of data analysis, keeping everything easy to understand and accessible.
Plus, with loyalty tech, you can build comprehensive customer profiles that are enriched with every single interaction, in real-time. Combine this with powerful segmentation tools to uncover micro-audiences. Then, you can create tailored marketing strategies rather than sending out generalised campaigns.
Marketers that run loyalty programs also have the unique opportunity to become the first-hand source of consumer insights. Such insights can be used for product development, sales strategies and business development, ultimately catapulting other teams into success.
Find out more about our analytics module
Today’s businesses need to work faster, and this pace leaves little room for second-guessing or doubting your data.
When creating a marketing strategy, you need to know which campaigns are performing well and should be replicated - and which need to stop. These opportunities are very timely - and will only be revealed by collecting insightful, real-time data.
Platforms like White Label Loyalty are helping marketers feel empowered by their data.
And data-driven businesses will be the best positioned to increase customer retention and loyalty this year.
So if you’re ready to take control of your data and make informed decisions, consider investing in loyalty technology. Your business and your customers will thank you for it…
If you enjoyed this article, check out these relevant posts below.
Share this Article
Senior Content Marketing Executive
Helen is our Senior Content Marketing Executive. She shares valuable information about the Future of Loyalty and will keep you up to date on the latest industry insights...