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Data-driven decisions must effectively fuel loyalty marketing

Consumers have reached a point where every single purchase decision, experience, and moment of interaction matters. Every interaction is a moment of truth for your brand, testing customers’ loyalty. So, making the right decisions has never been so important. In the ensuing battle for customer loyalty, data, insight generation and creative execution will set the winners apart.

Develop a ‘best data’ mindset

While it’s true that some of the datasets you’ll need to wrestle with to deliver great customer experiences will meet the criteria for big data in terms of volume, variety or velocity, it’s not just about “big data”, it’s about the “best data”. Success isn’t just about having the most petabytes of data tucked away in your data warehouse, it’s about having the most relevant and timely data to ensure a truly great customer experience through the enablement of better business decisions and customer interactions.

Generate actionable insights

Having the best data is just the first step. Once your data is connected, cleaned, accurate and secure, generating insights and acting on them is the next step in strengthening customer loyalty. Creating great customer experiences requires a clear understanding of customer needs. Customers are expecting brands to know what they like, what they dislike, which products and services they are interested in and much, much more. To develop the segmentation, insights, and predictive models needed to fuel this customer experience requires a combination of modern advanced machine learning, AI, and data visualisation tools. People with deep analytical skills, upskilled managers, and analysts are required to use this data to make effective decisions.

Create seamless customer experiences

Organisations must meet their customers’ expectations for seamless experiences. Every interaction, across every touchpoint, will have a bearing on a customer’s opinion of a brand. This ultimately influences whether interactions will lead to a purchase, build a long-lasting relationship, or create a negative customer experience leading to missed opportunities or even a lost customer. To create and deliver a personalised customer experience means companies need to not only understand what their customers need and value, but also have the ability to recognise those customers via whichever channel that customer chooses to interact through, at whatever time they choose.

Tailoring that customer experience, making content and proposition relevant, timely, and valuable to the customer delivers a single, joined up, curated experience across all channels and touchpoints for every single customer. This encourages loyalty to a brand, introducing a customer experience that is always present and personal.

The struggle for martech ROI

As the role of data and technology becomes clearer, over half of the companies that have invested in marketing technology and CRM capabilities to improve customer experience are still struggling to get a return on their investment. Gartner research reveals that marketing leaders say that they still utilise only 58% of their martech stack’s full breadth of capabilities. This is often because their ways of working aren’t set up to take advantage of their new tech capabilities. Successful customer experience management necessitates optimal ways of working to ensure that the data and technology are enabling better decisions and creating better business outcomes. It is vital that marketers use these new analytical capabilities to inform this strategy and serve every decision made.

You can learn more about the role of data in turbocharging customer loyalty marketing in our whitepaper ‘Decision support: winning the battle for personalised loyalty in the middle of an economic hurricane’. If you’d like to speak to us about your brand’s data or loyalty, do get in touch.