Customer data for marketing and business

 

A comprehensive checklist for auditing different customer data types in a CRM or Email marketing system

In today’s world of ever-increasing data availability, volume and variety the challenge to know which data is valuable to you is a key step in starting to build a marketing solution. An often-cited response is that ‘all data is important’ and this may be true, but to help decide which elements are critical in the initial stages of building your solution a method to identify at the value of each type of customer data is key.

In this post, I will look at how to audit customer data based on its type and value.  The examples will show why it's important to be selective when reviewing customer data in CRM and Email marketing.

Over numerous implementations of Marketing Database solutions, I have seen many types of data, including ‘pet’s name’, ‘favourite colour’, ‘number of car doors’ which all have potential value to different markets:

• Pet’s Name – Pet Supplies Retailer.
• Favourite Colour – Retail, particularly clothing.
• Number of Car Doors – Motor Insurance industry.

When first considering each data element, the ability to classify it can help determine how valuable and which phase of a solution it should be delivered in, if at all.

The following list provides examples of data elements and will help you quickly identify the critical pieces of information to your business and goals from the various different data sources. Typically the priority order of the data is as follows:

1. Customer Identity Data

At the heart of database marketing is the individual, so knowing who the individual is and being able to build and maintain a Single Customer View provides the first type of data, Identity. This includes any information which enables an individual to be uniquely identified and includes:

• Name Information – Title, First Name (Forename), Last Name (Surname), Designatory letters, etc.
• Person Information – Date of Birth, Gender, etc.
• Postal Address Information – Building Number, Building Name, Address Lines, Town, County, Postal/Zip Code, Country, etc.
• Telephone Information – Home Telephone No., Work Telephone No., Mobile No., etc.
• Email Address Information – Personal Email Address, Work Email Address, etc.
• Social Network Information – Facebook Identifier, Twitter Address, Linkedin identifier, etc.
• Account Information – Details of your customer’s account ids or user ids.
• Job Information – Company Name, Department Name, Job Title, etc.
• Permission and Suppression Data – Not distinctly an identity element of data, but equally important is the information concerning permission to communicate and reason for not communicating (suppressions).

2. Quantitative Data

Once you understand who the individual is the next key element is the measurable operational data, which enables you to understand how your customer has behaved, transacted or reacted with your business. This includes any information which describes activity completed between the customer and your business:

• Transactional Information (Online and Offline) – Number of products purchased, actual products purchased, Order/Subscription Value, Order/Renewal dates, product abandonments (abandoned baskets), Product Returns, etc.
• Communication Information (inbound and outbound) – Communication date, communication channel, Opens, Click throughs, etc)
• Online Activity – Website visits, product views, online registrations, etc.
• Social Network Activity – Facebook likes, Twitter interactions, etc.
• Customer Services Information – Complaint details, customer query details, etc

3. Descriptive Data

Understanding who the individual is and the type of activities they complete with you provides a good starting point for any marketing database. To gain a fuller perspective of your customer additional profile information is crucial. This provides additional information about your customer, beyond the identity and quantitative details, covering:

• Family Details – Marital status, number of children, age of children, etc.
• Lifestyle Details – Property type, car type, number of car doors, pet ownership, etc.
• Career Details – Profession, Education level, etc.

4. Qualitative Customer Data

The final type of data you will come across provides further description of your customer and potential behaviour and is usually provided by questionnaire type information where an attitude, motivation and opinion is provided:

• Attitudinal information – How do you rate our customer service, how do you rate the value of the product, how likely are you to purchase our product again, etc?
• Opinion – What is your favourite colour, where is your favourite holiday destination, etc.
• Motivational – Why was the product purchased (personal use, gift for someone, etc), what was the key reason for purchasing our product (locality, price, quality), etc.

Using this simple classification process and relating them to your core business goals, will enable a quick identification of which data provides the information critical to the core success of your business. This can then be used to plan the appropriate delivery phases, with clear understanding of the value achieved from each data item included, enabling you to answer the question ‘How valuable is knowing my customer’s pet name?’ to your business.

By Jim Roberts  - https://tinyurl.com/2s4xf8em

Unlocking Marketing Potential: Understanding the Power of Customer Data Platforms (CDPs)

Joshua A. Joseph

Staying ahead of the curve is paramount to success in the dynamic realm of modern marketing. One powerful tool that has emerged as a game-changer for startup marketers is the Customer Data Platform (CDP). This article aims to provide you, my sweet fellow marketers, with a comprehensive understanding of what a CDP is and how it can revolutionize your marketing strategies.

What is a Customer Data Platform (CDP)?

To grasp the concept of a Customer Data Platform, let's break it down into its fundamental components:

Customer: In marketing, the customer is your North Star. Understanding their behaviors, preferences, and needs is the cornerstone of effective marketing.

Data: Data is the currency of the modern digital age. It's the raw material that fuels marketing campaigns. This data can include everything from demographics and purchase history to website interactions and social media engagement. But we often run into problems with data compliance with GDPR and PII

Platform: The term 'platform' denotes a unified system where all this valuable customer data is collected, organized, and made readily accessible for analysis and action.

A Customer Data Platform, in its essence, is a specialized software that empowers marketers to collect, organize, and leverage customer data from multiple sources in a unified and user-friendly interface. This technology acts as a nexus for all customer-related information, providing a holistic view of each customer's journey.

Why Do Marketers Need CDPs?

To answer this question, let's dive into some of the core challenges marketers face daily:

1. Data Silos: In the age of digital marketing, data is spread across various channels, such as email marketing, social media, web analytics, and CRM systems. These data silos make it challenging to gain a 360-degree view of the customer.
2. Personalization: Modern consumers expect personalized experiences. Marketers need a tool to gather and use customer data to craft tailored messages, offers, and content.
3. Real-time Insights: Staying relevant in the digital landscape requires the ability to access and utilize real-time data. This can be a challenging task when dealing with disparate data sources.
4. Compliance: Privacy and data protection laws are evolving rapidly. Marketers need to ensure they are adhering to these regulations, which can be a complex and daunting task.
5. Data Security: As stewards of valuable customer data, marketers need to ensure the highest standards of data security and protection.

A Customer Data Platform is the solution to these challenges. It serves as a bridge between the scattered data points, enabling marketers to harness the full potential of their customer data.

How Does a CDP Work?

A CDP works by unifying data from various sources, transforming it into a structured format, and making it accessible for marketers. Let's break down the process step by step:

1. Data Ingestion: The first step is collecting data from multiple sources, which can include CRM systems, website analytics, social media platforms, email marketing tools, and more.
2. Data Unification: After data is collected, a CDP standardizes and organizes it. This is crucial for ensuring that all data is in a common format and can be effectively analyzed.
3. Customer Profiling: The CDP creates detailed customer profiles, combining data from various sources to provide a holistic view of each customer. This includes demographic information, browsing behavior, purchase history, and more.
4. Real-time Updates: A key advantage of CDPs is the ability to provide real-time insights. Marketers can access the latest data on customer interactions and behavior.
5. Segmentation and Personalization: With unified data, marketers can segment their audience based on a wide range of criteria. This segmentation enables the creation of highly personalized marketing campaigns.
6. Cross-Channel Integration: CDPs often offer the ability to integrate with various marketing channels, ensuring consistent messaging and customer experiences across platforms.
7. Reporting and Analysis: CDPs provide robust reporting and analytics tools, allowing marketers to gain valuable insights from the data.
8. Compliance and Security: To meet regulatory standards, CDPs often include features for data protection and compliance monitoring.

Real-world Applications of CDPs

Now that we have a grasp of how CDPs work let's explore how they can be applied in real-world marketing scenarios.

1. Personalized Email Marketing:

Imagine you run an e-commerce store, and you want to send out personalized product recommendations to your customers. A CDP can help by analyzing purchase history, browsing behavior, and demographic data to craft tailored emails. This not only increases engagement but also drives sales.

2. Dynamic Website Content:

For an online news publication, CDPs can be used to personalize the content users see when they visit the website. By analyzing a user's past reading habits and interests, the platform can display articles that are most relevant to them.

3. Customer Journey Mapping:

Marketers can use CDPs to gain insights into the customer journey. By tracking touchpoints and interactions, they can identify areas where customers drop off or become disengaged. This data can then be used to optimize the customer experience.

4. Cross-Channel Campaigns:

A CDP allows marketers to seamlessly integrate their data across multiple channels. For example, if a customer receives a special offer via email, the same offer can be displayed on their social media feed or when they visit the website, providing a consistent brand experience.

5. Compliance and Data Protection:

CDPs can play a crucial role in ensuring that customer data is handled in compliance with privacy regulations. They can monitor data usage, provide transparency to customers, and help in quickly responding to data breach incidents.

Benefits of Implementing a CDP

By now, you might be wondering about the concrete advantages of integrating a Customer Data Platform into your marketing strategy. Here's a list of benefits that could revolutionize your approach:

1. Improved Customer Understanding:

CDPs provide a comprehensive view of your customers, allowing you to understand their behavior, preferences, and needs more effectively.

2. Enhanced Personalization:

With a deep understanding of your customers, you can create highly personalized marketing campaigns that resonate with your audience.

3. Real-time Insights:

Access to real-time data ensures you can react swiftly to changing customer trends and behaviors.

4. Increased Efficiency:

CDPs streamline data management and reduce the time spent on data integration, freeing up resources for more strategic tasks.

5. Higher ROI:

The ability to target your audience more effectively and personalize your messaging leads to improved campaign performance and a higher return on investment.

6. Cross-Channel Consistency:

Consistent messaging across channels strengthens brand identity and fosters trust with your audience.

7. Compliance and Security:

CDPs help you stay in compliance with data protection regulations, minimizing the risk of costly data breaches.

Challenges and Considerations

While CDPs offer numerous benefits, they are not without their challenges:

1. Cost: Implementing a CDP can be a significant investment. Marketers must weigh the potential ROI against the initial cost.

2. Data Quality: Garbage in, garbage out. CDPs rely on accurate and high-quality data. Marketers must ensure that the data sources are reliable.

3. Integration: Integrating a CDP into your existing marketing technology stack can be complex. Ensure that the chosen CDP is compatible with your current tools.

4. Data Privacy: The handling of customer data raises ethical and legal concerns. Marketers must prioritize data protection and comply with relevant regulations.

Choosing the Right CDP

Selecting the right CDP for your business is a critical decision. Here are some key factors to consider:

1. Integration Capabilities: Ensure the CDP can seamlessly integrate with your existing marketing tools and platforms.

2. Scalability: Look for a CDP that can grow with your business. It should handle increasing volumes of data and evolving marketing needs.

3. Customization: The ability to tailor the CDP to your specific business requirements is crucial.

4. Data Security: Ensure the CDP prioritizes data security and compliance with privacy regulations.

5. Vendor Reputation: Research the vendor's reputation and customer reviews to gauge the quality of their service and support.

Conclusion

Customer Data Platforms are becoming essential for marketers who seek to stay competitive. These platforms are more than just a tool; they're a key to unlocking the true potential of customer data. By unifying, analyzing, and leveraging data effectively, marketers can offer personalized experiences, drive engagement, and boost their ROI.

As you contemplate the adoption of a CDP, remember that it's not just a technology decision; it's a strategic one. The right CDP can be the catalyst for your marketing success, but it requires careful consideration, integration, and ongoing management.

https://tinyurl.com/3rrwy9ve

What Makes Customer Service Experiences Great or Terrible?

 Which factors contribute most to great and terrible experiences when customers contact businesses?

To find out, Oracle and Ascend2 surveyed 5,053 people around the world between the ages of 18 and 80 with an annual household income of $40,000 or more.

Respondents say the factors that contribute most to a positive customer service experience are helpful service agents (65% cite), having the ability to easily find the information needed (62%), and receiving proactive service to address potential issues (42%).

Respondents say the factors that contribute most to a negative customer service experience are having to repeat themselves to multiple agents (56% cite), having to contact customer service multiple times (52%), and being unable to reach a live agent (47%).

Respondents say the things that matter most to them when trying to contact a business for customer service are the speed of getting connected to an agent (64% cite) and having to expend limited effort to achieve a resolution (46%).

The researchers found the customer service method of contact that has seen the greatest increase in usage over the past two years is webchat with a live agent (35% of respondents report using more).

About the research: The report was based on data from a survey of 5,053 people around the world between the ages of 18 and 80 with an annual household income of $40,000 or more.

https://www.marketingprofs.com/

11 Ways to Get Better User Feedback

 

So, as all classic list-type posts must do — this one goes to 11. Understanding what your customers are saying is critical to the success of your product’s evolution. Here are 11 ways that individually provide varying perspectives on the customer’s opinion. Combined, they become powerful in providing a 360 degree view of the voice of that customer.

1. Bring customers in to your office — this one may go without saying but it’s important to bring customers in. Show them the office and where the sausage is made and solicit their feedback via one-on-one interviews and usability testing. The insight gained here may be a bit contrived but you’ll start to get a feel for where the big boulders are in the road and what you should focus on next.
2. Go where your customers are — classic field research techniques will provide you with the qualitative insight gained in #1 above with the addition of context. This is the customer in their natural habitat interacting with your product. In a lot of cases all you’ll need to do is observe. Don’t say a word. Just watch, take notes and pay attention to the nuances.
3. Reach out and touch your customers — assuming you’ve forgiven the antiquated marketing slogan, the core of it is absolutely true. Call your customers – especially those that have quit your service. Typically, they’ve left for a specific reason or perception. While that perception may not actually be true it WAS true for them and defined their experience to the point of making them quit.  Call them up. They’re dying to tell you about it. Guaranteed.
4. Ask them why they’re leaving — inevitably customers will quit your service (see #3 above). On their way out, ask them, via survey, why they left your service or product. People love to vent and if your product frustrated them they won’t hesitate to share their thoughts. This is the perfect time to solicit this information since it’s fresh in their minds and caustic enough to drive abandonment.
5. Survey the landscape — for general, high-level, directional understanding of what your audience is feeling about or doing with your product/service nothing beats a survey. They’re easy to set up on services like Surveymonkey.com and provide solid analysis into the general segmentation trends of your audience. Pick a large sample size since completion percentages will likely be low.
6. Look at the numbers — do you have an analytics tool on your site? No? Google Analytics is free and does some pretty amazing things for a free product. Need more power, dig into something like Omniture or Webtrends to get the deeper insight you need. Use this data directionally to get a sense of how your audience is using your site. Where are they spending time? Is something engaging them there or are they getting stuck? Are they bailing out at some point? Dig in and find out why. Did I mention this was totally FREE data available to you right now?
7. A/B Test — think something works well? What if you tweaked the wording or changed the call-to-action? Red vs. blue? Your audience will vote with their mouse when you show them two separate options. Make sure your results are statistically significant before declaring a winner but this is an easy option for gaining quick optimization wins and understanding what type of triggers work best with your audience.
8. Talk to your customer service folks — your CS reps are the front lines of the customer feedback loop. When something’s wrong, they hear about it — a lot. Buy them a couple of pizzas and spend your next lunch hour with them discussing their top 10 complaints for the month. Then, do that next month and the month after that. Rinse, repeat. You’ll be amazed how much knowledge of your audience is available within your organization.
9. Talk to your sales people — on a similar note, your sales people are the leading edge of where your customers are headed. Sales people hear about current pain points, how your current offering addresses those pain points and what benefits the competition is offering. In addition, listen in on several sales calls a month. You’ll be amazed at the way your product is being sold. Your perception of the product will be forever changed.
10. Guerillas in the mist — got a hot new idea? think it will crush the competition and reinvent your industry? Before you spend the next 4 iterations building it, get a prototype together and head to your nearest coffee shop, library, public park, wherever and show it to people. Offer them something in return for their time — movie tickets, gift cards, etc — and get their immediate feedback. Bonus: you’ll start acquiring new customers and solid word of mouth if your prototype is a hit. Even if it’s not, you’ve learned something and spent minimal dollars and time doing so.
11. Get personal — if you’re offering a lifestyle product or a service that attempts to manage or automate a complex process that takes place over a longer period of time, consider getting some users to agree to a diary study. In essence you get a handful of customers to write down their daily activities over the course of a week or so and detail how your product/service fits into those regular activities. It’s a little bit expensive — $500/person/week is a fair price and you’ll have to call your participants daily to ensure they’re completing their diaries regularly. At the end of the process you’ll have 5 books’ worth (literally) of raw material to comb through, analyze and build patterns of use.

These 11 ways will bring you closer to customer and help you understand, quickly and cheaply, why they do the crazy things they do. Use them, love them and make them part of your regular routine. The insight they yield can help shape the future of your work.

Jeff Gothelf

https://cutt.ly/X8USuCC