Want to create better experiences and brand loyalty? Lean on your data
Marketing leaders are in the throes of 2019 planning and there’s no doubt improving consumer experiences is among the top priorities for the new year. Data shows consumer expectations (and frustrations!) are on the rise, and brands are scrambling to understand to deepen brand-to-consumer engagement. This article will explore three ways brands can make the most of data to improve consumer relationships.
Recent data from a global study which polled 7,000 consumers shows a third of consumers expect brands to anticipate their needs before they arise, and a whopping 70 percent of global consumers are annoyed when every company correspondence is about making a sale. Likewise, Accenture reports 75 percent of consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, or knows their purchase history.
Now more than ever, consumers expect brands to understand them and treat engagements as evidence that they are committed to knowing them better as individuals. Whether it be through recommended products, engagement channel preferences (like social media or email), more relevant content (back to school tips or downsizing advice for empty nesters) or selecting better promotions (free shipping versus bundle deals versus free sample products), brands will benefit from going the extra mile.
Glossier is an excellent brand example of evolutionary marketing. In an extensive feature on its founder, Emily Weiss, Entrepreneur Magazine wrote:
According to six months’ worth of database, customer and engagement research, Forrester Research found that “‘data-driven marketing strategies are the new standard.” According to Forrester, “B2C marketers are collaborating with CRM teams to optimize customer relationships. Customer database and engagement agencies have used this opportunity to carve out a spot for themselves on agency rosters by keeping databases secure and compliant with global regulations, as well as creating real-time insights for marketers to act on.
