How well do you know your customer?
29/09/2023 - Veerle Rijckaert
Do you also feel like you don't know your customer well yet, despite sitting on a gold mine of data?
In a world awash in data, you may be wondering: do we really know our customers? The digital age offers unprecedented opportunities to understand your customer and build a relationship. Customers are more connected than ever, and their behavior and expectations are constantly changing. It is essential to track and understand these movements.
At Stratics, we find that companies often experience the following pain points.
Pain point 1: Dormant data and no 360° customer view
Many companies have a wealth of dormant data; information that is available but not leveraged to analyze customer behavior. This lack of a 360° customer view hinders the ability to form a holistic picture of customers, leaving untapped opportunities for personalization and improved customer experience. Activating this data is crucial to developing effective marketing strategies, where various data sources such as CRM, ERP, websites, customer service, surveys, social media, mobile apps, multichannel marketing automation, offline data, open data, IoT, referential data, ... are essential.
Pain point 2: Balancing technology and strategy
The focus on implementing numerous tools and systems can be blinding. These are merely means to an end, not the end goal. Finding the right balance between technology implementation and strategic planning is crucial. Technology should support business strategy, not the other way around.
Pain point 3: Understanding customer behavior and trends
Without deep insight into customer behavior and trends, companies miss opportunities to proactively respond to changing needs. Analyzing data and recognizing patterns are essential. This allows companies to tailor their offerings to each customer's unique needs, resulting in increased customer satisfaction and loyalty. Embracing AI can play a key role here.
Pain point 4: The importance of monitoring
"Every strategy fails if there is no continuous monitoring. Monitoring is the backbone of any successful marketing strategy. It allows companies to measure the effectiveness of their efforts, adjust as needed, and anticipate future trends and developments.
Pain point 5: Personalization and trigger-based actions
Marketing campaigns that are too generic often result in a lack of resonance with the target audience. Implementing trigger-based actions that respond to customer behavior can significantly increase the relevance and effectiveness of marketing efforts. Personalization and timely communication are key to increased engagement and conversion.
Pain point 6: Data-driven vision and leadership commitment
A data-driven vision is fundamental, but without executive commitment, initiatives can stagnate. Leadership must recognize the value of data and invest in developing data-driven strategies. A strategic approach that clearly defines what one wants to achieve with data is essential.
Pain point 7: Complexity and cost
Implementing too many tools can lead to increased complexity and cost, as well as integration issues between different systems. As a result, managing data across multiple platforms becomes a challenge. This is where Stratics' MyMip offers a solution. MyMip very cost-effectively brings all data together in a data lake with customer data platform features. It provides ready-to-use dashboards and allows you to communicate directly with all your target groups.
Pain point 8: Culture and training
A data-driven culture and the right training for employees are just as important as having the right tools. Employees must be able to use tools effectively and interpret data to make impactful decisions.
🚀 Stratics helps you! 🚀
The lack of knowledge and resources keeps many companies from investing in digital and data-driven marketing. You may recognize one or more pain points.
However, help is at hand.
Stratics is your ideal partner in this area, with the expertise and experience to help you really get to know your customers and harness the power of data. Our multidisciplinary team is the white raven you are looking for, one of our unique selling points. Together, we can develop and implement strategies that take your business to the next level.
Are you ready to really get to know your customers? Stratics is here for you.
Schedule an interview now