“Data-driven thinking”Written by members of the media community and has new ideas about the digital revolution in the media.
Today’s column is written by Azlan Raj, Chief Marketing Officer Merkel EMEA.
Personalization has become a topic of debate in marketing. On the one hand, we’ve noticed that advertisers look around for errors and errors when looking for a cookie-free approach to targeting audiences. But there is also a hunger for a less complex and more humane solution.
A recent study Content that is not personalized annoys 42% of consumers. However, 63% of consumers say poor personalization strategies will prevent them from buying items from their brand.
This study points to a change in attitudes among consumers. Great reach and targeting has always been and will remain important, but people increasingly judge the brand by its overall experience. That experience includes a combination of paid media communication and interactions across digital services, information and support channels.
As marketing shifts from personalized to personalized, every interaction between these channels will be counted. Moments of connection that provide an overall experience in the journey of data-driven ad replacement. And with the rise of technologies such as blockchain and metavers that connect customers more than ever, it’s time to accelerate the journey of brands.
Total experience unlocked
Allows third party data marketers to create a large bank of possibilities for quick targeting. But it does not provide a complete overview of the customer relationship over time. The result is a frustrating, incomplete outline of customer characteristics without a single source of truth. Instead, marketers should enrich their bank with relevant CRM data and media to provide a complete view of the customer that they can understand instantly. This process requires emotional intelligence.
Inevitably, brands are investing heavily in first-party data to drive personalized marketing. But focusing on new mechanisms to enhance personalized advertising will only get them half way to their total customer experience.
While many brands have great systems and media buying space, not connecting each channel in close real time, even the biggest brands would be wrong.
For example, you are a loyal customer of a large department store. You will receive regular emails with personalized suggestions or offers relevant to you. So far so good. But every time you make an online purchase in that store, you are targeted by the same store for the same product. Not all of the brand’s touch points are aligned, and now the store has annoyed a loyal customer.
Mobile apps, voice skills, desktop web, in-store POS or experiential technology, customer service SaaS and AI service solutions are creating a powerful level of channels and opportunities for authentic data collection. These channels, when linked, can enhance first-party data to create a more personalized, useful experience.
Instead of using these channels to promote short-term campaigns, brands have begun to think more strategically. They are building business performance based on a lifetime customer experience and return to journey record, analysis and data infrastructure.
Embracing this vast universe of channels with a focus on a more strategic business approach is the result of an adaptive organization. In parallel, brands must know their data and use digital conversions to refine the overall customer experience. However, this requires a higher level of design and implementation than just switching from a data management platform to a customer data platform.
Future brands will be characterized by the ability to combine emotional forms of information as much as suggestive data and use it effectively over time.
CXM gets private
A new discipline is needed to orchestrate the available data and develop marketing methods in a more personal way: Customer Experience Management (CXM). To deliver this, companies need to be more adaptable and think outside of their own transformation. This will enable them to respond to customer needs with greater speed and agility.
CXM requires a certain mindset as much as technology. It puts people at the center of the experience and lets marketers really understand their needs and behaviors. There is technology. What is needed now is strategic engagement between marketers, CIOs and CEOs.
Understanding the customer and their expectations on a deeper level is the only way to legitimately move beyond personalization towards personal relationships. And consumers desire “personal” until it is well done.