In marketing, data and the insights it provides are often the key to shaping a customer experience that brings customers back again and again. For customer-centric companies, data collection and analysis are vital. Companies rely on data from a variety of different sources and use a lot of technologies to gain insight into their customers and guide them along the customer journey. Data acquisition and some potential challenges for data-driven marketers have recently been frequent topics of discussion in our exclusive content on CMO.com. Read on for some valuable insights you can put into practice today to increase your company’s marketing effectiveness.
John Goulding, global product director at Media iQ, touched on the challenges many companies will face if the General Data Protection Regulation (GDPR) raises the stakes in 2018 by classifying cookies as personal data. Goulding encourages businesses to take this as an opportunity to explore more “innovative types of data and, ultimately, employ a more diverse data strategy.” Businesses will have to find ways to gain consent for online data capture and create an obvious mutual benefit exchange so that customers will want to opt in.
Pierre Moulin, global head of products and strategic marketing for French bank BNP Paribas, spoke recently with CMO.com about his new role and the company’s evolving organisational structure. He touched on the role of data in the company and its approach to be as innovative as possible with it. BNP Paribas is combining internal and external data sources to “build some form of predictive aspect in how [they] present products to different client segments.” Moulin mentioned that the types of data initiatives they’re pursuing serve as a source of inspiration for the company.
Customer leadership pioneer and author Thomas Barta shared some important insights to help CMOs draw real learnings from big data. Most of a company’s big data is generated as a byproduct of other activities, such as a “company’s routine operations or consumers’ social media conversations,” and not specifically for insight purposes. Still, big data insights are important, and according to Barta, they’re primarily a leadership challenge rather than a technical one.
In a recent interview with CMO.com, Eylard Wurpel, chief marketing officer for Netherlands-based holiday homes rental company Belvilla, shared how important customer thinking is to the heart of his company’s marketing approach. With so many touchpoints across a company, it’s important for everyone in the company to care about the customer conversation. Belvilla focuses largely on content marketing and inspiring its customers, as well as being an authority on customer experience.
David Kaganovsky, worldwide CIO of Maxus, discussed the role of technology in a marketer’s toolbox and shared some tips for avoiding bad tech. Technology continues to impact our personal and working lives, and it makes sense for a company to adopt the technologies in which their customers are most likely to be present. In fact, staying ahead of the competition requires adopting technology that makes a company “better and more efficient.” Kaganovsky suggests businesses implement an effective framework for evaluating available technologies and their suitability, as well as finding the right partners to help guide decision making.
We hope you gain some valuable tips and strategies through our exclusive content on CMO.com. Please let us know what you think.