Companies are aware that the best way to reach prospects or customers is to get in touch with them at the appropriate time during their buying journey. Multi-channel marketing based on a unifying, well-organized, and integrated view of customers helps companies perform effective marketing based on data. The success of data-driven marketing is based on two factors:
1. One customer perspective (sometimes called 360-degree view)
2. Actionable marketing data
Single Customer View
To build a single view of all customers requires an organization to incorporate all their prospect and customer marketing information into a single area. The trick is to match the information available for a particular individual to a specific person. Connecting each aspect of a customer to all the variables that are relevant to the consumer is challenging. If done correctly, the single view of a customer can provide a wealth of information for marketers by using the single view of a customer that they can study and analyze the entire customer journey. This understanding gives businesses the ability to use data to send the appropriate message at the appropriate time and through the correct way to reach the right audience.
Market Data that is Actionable
To provide prospects and customers with relevant, personalized, and timely communications, marketers need to have relevant marketing information. Data that is actionable means your data is always reliable, accessible Fresh, and Integrated (TAFI). Without actionable data, companies don’t have the data needed to execute data-driven marketing. The various marketing tools employed by companies to execute cross-channel marketing are only as effective as the data gathered by the system in question. Data-driven marketing is based on data and not software.
Successful data-driven marketing is within reach.
Make a single view of the customer across all of your marketing data and make sure that your marketing data is possible. Marketing databases provide marketers with a complete and reliable 360 degrees perspective of the customer that can help them improve their marketing strategies based on data… A database for marketing can also provide a variety of platforms and software that provide an integrated, actionable data set that allows you to provide relevant, personalized, and timely communications throughout the purchase process of the customer.
A Data-Driven Database for Marketing Solution
A single view of customers is only accessible to companies that are able to integrate relevant data into a central database. Database solutions provide companies with a central database and a database-driven by data solution. A marketing database houses information such as where and how products are purchased, when and what was purchased, the dollar amount spent, and customer demographic/lifestyle, and firmographic information. Data-driven marketing provides database marketers the capability to design targeted marketing campaigns that their customers will be able to relate to and then act upon. How? The capability to collect all information about marketing-from both external and internal sources allows direct marketers to construct an image of three dimensions of their clients. Marketers can build this picture due to their access to a vast array of details about every single person. Direct marketers are able to identify the preferences their customers and potential customers share as well as their preferred method of communication and the advertisements they will most likely react to. In the end, businesses can make lists of their customers that are finely tuned to use in their marketing campaigns or utilize the data to conduct cross-channel marketing using other software and platforms.
A genuinely data-driven database solution allows businesses to integrate various items like the ones below.
Data on prospects and customers
Multi-channel contact data (e.g., postal address, email address, text messaging, phone number, mobile push, social media, etc.)
Monetary, Frequency, and Recency information
Multi-level managed data (e.g., email, individual, household, residence, unique business, unique email address, etc.)
Customers’ or prospects’ characteristics (e.g., interest preferences, affinities, or interests)
Demographic/lifestyle and firmographic data
History of the campaign
Tracking and tracing of marketing touchpoints/promotions
Opt-out and multi-channel suppression
A fully integrated database driven by data solution gives marketers the capability to collect additional data about their clients and prospects, which improves response rates to campaigns as well as sales and ROI. Data-driven marketing begins with data and not software.