For a long time, conversations have been going on concerning the importance of big data. Although most marketers understand that gathering customer information is crucial to realising positive outcomes on a marketing campaign, there are still very many misconceptions on how to effectively put the information to good use, as per a recent study by Harvard Business Review.
“Customer-data strategies need deep thinking, patience and several strategies. Even if you desire to have the best analytics strategy, you would still have to start comprehending it”, IT developer who’s working for a Dubai-based creative marketing agency, advises.
Firstly, marketers should be especially cautious of confidentiality issues when gathering large sets of client data. “It’s best, to begin with, the basics, for instance, customer names, e-mail and mailing address. Other data points you can collect for general demographic snapshots include age, gender, and profession”, Poonam Jangir, a creative marketing agency specialist based in Dubai, says.
As you build trust with your clients, Jangir recommends going deeper and gathering transactional data, and even asking customers for some psychographic data points so as to develop a marketing strategy appropriate for each of your clients, individually. Note, also that increasingly, firms don’t necessarily suffer from an issue of having too little data. The bigger challenge lies in qualifying and simplifying the correct data before making it actionable.
The Harvard Business Review research also revealed that lack of integration coupled with the data’s incompatibility is one of the primary challenges restricting the significance of the data to marketers working for any creative marketing agency.
Certainly, you should keep the spreadsheet file. However, it’s still important to look for new data management system that permits your business to provide stress-free access to data as well as reporting by different channels and stakeholders, she adds.
That data management system can bring the whole marketing department a lot closer to one variety of the truth, which you can then use to segment users and launch campaigns with a higher level of quality and accuracy.
According to the research, another widespread misconception marketers have concerning customer data is failing to realise its limits.
The author is a freelance journalist who is based in Dubai. Consequently, the views she expresses here are her own and in no way reflect the policy of the newspaper.
Successful marketing strategies create the ability to not only design and implement, but also act upon a worthwhile “Trial and Error” setting. Such an environment, coupled with the capacity to comprehend the patterns (in the data collected) that can be generalised, holds the key to the usefulness of the customer data.
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