Apple’s Steve Jobs famously said, “A lot of times people don’t know what they want until you show it to them,” and this couldn’t be truer when it comes to meeting the expectations of the hyper-connected customer. Today, they increasingly expect a personalized, relevant experience during every interaction with a company, regardless of the channel. This has led to the concept of personalization, or personalized marketing, which is a marketing strategy by which companies leverage data analysis and digital technology to deliver individualized messages and product offerings to current or prospective customers.Read More
A colleague recently bought a new car. He was thrilled and anxious to have it delivered within a couple of weeks. Not long after delivery, he received an email from the car manufacturer, featuring a promotion for the exact same car, only at a drastically reduced price.
Within a matter of seconds, the manufacturer had turned my colleague from a brand advocate to a dissatisfied customer.Read More
In the global marketplace, where data is a critical business asset, industry leaders struggle to maximize back-end IT, including CRM, ERP, e-commerce, marketing automation, and point of sale. Organizations deploy these IT systems to meet customer expectations, differentiate on digital experiences, streamline operations and achieve regulatory compliance while still delivering growth strategies and competing, in many cases, in a global market.
The challenge facing companies is how to get the most out of back-end systems, which often operate in silos and result in impartial or duplicate data that is low quality and costly. In fact, the cost of inadequately performing enterprise systems is significant, with the Harvard Business Review reporting that poor-quality data in the U.S. alone cost businesses $3.1 trillion annually.Read More
Your organization, and organizations of any size, depends on the accuracy of its data to gain financial insights and improve marketing, sales and customer service. In fact, pretty much every department within your company will rely on data in some way.
And if that data is inaccurate, hard to access or only tells part of the story, it can severely hamper operations across the business. Data errors can seriously impact relationships with customers, suppliers and business partners and result in significant financial loss.Read More
Your customer data and how you handle it is an indicator of how successful your business is. In fact, poor customer data management leads to bad customer experiences, slow processes and now - with the General Data Protection Regulation (GDPR) in effect - increased risk. If you’re not GDPR compliant, you face massive fines and negative attention.
How do you know if you have a customer data problem? Six signs indicate if your business has customer data management issues and if you’re not complying with the GDPR.Read More
What are the financial business benefits of having a clear, single view of your customers? By a single view, I mean a comprehensive picture of their engagement habits, purchase history and more.
I want to explore the financial benefits – for you as a company – of getting to know your customers better, and also take a look at the benefits to your customers from the improved experience they’ll receive from you.
In essence, the aim of getting to know your customers should be to create a win-win situation for all concerned.Read More
Oh, how times have changed for retail.
Some of the biggest retailers we know have been in distress, either filing Chapter 11 bankruptcy or shutting their doors altogether. It’s not (all) Amazon’s fault, although they get the brunt of the blame. The truth is, modern consumers are savvy and have increased expectations. They demand that retailers know more about them, what they want, and what they don’t want.Read More
Recently, I arranged for a parcel to be shipped internationally. The online ordering and payment process was simple, and my package was scheduled to be collected from me and sent the next day; in time for the event it was intended. I thought I was pleased...Read More
Product Information Management (PIM), DAM, EAM, PII, data enrichment, matching and linking. Not quite sure what all those abbreviations, terms and hypes mean and how they relate to Master Data Management (MDM)? Get your MDM definitions in one place in this A-Z of MDM.Read More
Cloud storage, regulatory compliance, security breaches – the list of factors that have driven companies to make changes to the way they manage data in recent years is endless. Combine this with the dramatic increase in the data most organizations now hold, and you end up with a highly challenging situation (and potentially missed business opportunities).
Take a look at your own data scenario. If any of the following sounds familiar to you, it may well be you have a data problem that needs to be fixed. Soon.Read More