‘Block’ One: Achieving A 360-Degree Customer View Through Data Capture
Personalization is marketing’s Holy Grail. In fact, 80% of consumers are more likely to do business with a company if it offers personalized experiences. So how can you incorporate more personalization into your marketing programs? To help break it down, I like to advise clients to think of it in stages, or a series of building blocks to reach your personalization goals:
- Leverage data capture techniques to achieve a 360-degree customer view
- Incorporate new technologies like artificial intelligence to engage at scale with customized messages
- Reach your customers at the right time, in the right channel
In the first part of this three-part series, let’s explore how you can set the foundation for reaching your personalization goals by achieving a 360-degree customer view through data capture.
Getting to know you, getting to know all about you
Create a data capture strategy that’s realistic, and fits in with your overall marketing goals. Integrate your online and offline data and incorporate the enabling technologies to fulfill on your strategy. Collect and capture cross-channel data with data lakes and then perform identity mapping to understand who’s who (in a PII compliant manner, of course). Finally, understand how you can activate the data at scale to leverage for marketing purposes.
The proliferation of access to first-party data (thanks to multiple touchpoints like website visits, emails, mobile apps, social interactions and more) allows marketers to better know today’s customer. The data created from all of these touchpoints should be augmented with third-party data assets which enables a true, 360-degree customer view. Third-party data (typically coming from multiple outside sources) includes things like consumer’s interests (sports teams, preferred travel locations, etc.), and basic demographics that can then be segmented, profiled and analyzed with first-party data to enhance the customer view.
Let’s put it in context. At Epsilon, we work with multiple brands to help them solve their identity challenge. For many, their loyalty platform is viewed as ‘a base,’ or ‘starting point’; then all data sources from both the online and offline channels are integrated into the platform solution and it’s enhanced with third-party data, such as TotalSource Plus providing an expanded view of the customer, bringing together data from several different sources. Whether it's by device or by different physical addresses, we give our clients a holistic view of the customer so that they can get a better understanding of who's generating the most lifetime value, and who's generating the least, so our clients can effectively plan their marketing efforts.
When it comes to getting to know your customers, think of all the ways they interact with your brand to ensure you’ve captivated on all of the available data sources to know, and form a relationship with your customer. Eventually you’ll achieve a 360-degree view.
Stay tuned, as in my next article I’ll discuss how marketers are using artificial intelligence to engage at scale with customized messages.
This article originally appeared in Loyalty360 on August 1, 2018.