Just in case you’re feeling bad about not fully using data and technology to create personalized customer experiences, you’re not alone. In fact, you’re part of the majority.
Results from a recent survey by CMO Council and Pegasystems show that most marketers still lack confidence in their ability to utilize data in predicting customer journeys, personalizing content or fully understanding the consumer lifecycle.
Chasing the ‘360-degree’ view
The much vaunted ‘360-degree’ view of the customer continued to exist only in for most marketers. Out of the 150 respondents surveyed across North America and Europe, only 3% said all sources of customer insight across their organization were completely aligned and integrated. The overwhelming majority (46%) said data from each stream is collected analyzed separately.
However, as I outlined in my research report, The Customer Experience Cloud, integrating every single source of data about a customer from across the entire organization isn’t just costly and a drain on IT resources, it’s ultimately not necessary for delivering a great personalized experience. Marketers need to identify the few data points that are most relevant to the customer experience they want to provide and focus instead on aligning and integrating those. A 180-degree or even 90-degree view of the customer will deliver great results, rather than waiting for a massive and costly 360-degree view.
“Your crystal ball ain’t so crystal clear”
Only 3% of marketers said they had “excellent levels of understanding, insight and predictive knowledge about how the customer will react to experiences and engagements.” 41% said they had great analytics for past performance, but those did little to help light the way ahead, and 23% said predictive intelligence only helped with forecasting broader trends and not with actionable insights for individual customers.
For all the excitement around using Big Data to predict what will impact the customer, these numbers show that adoption of both the technology and practice of data-driven experiences is slow. Part of the reason is that we still rely mostly on humans to make the judgement call for what works in a campaign, rather than the software. And marketing departments simply can’t hire enough data scientists to cope with the reams and reams of customer data we’re now able to ingest. As the software gets better, and more intuitive to use, we can expect to see marketers get more comfortable playing with and mastering this type of technology, but it'll be a while before that happens.
So there you have it. The harmonious deployment and integration of predictive analytics, real-time insights, 360-degree customer views, customization and personalization is all theoretical for most companies. That’s not to say that it’s not worth pursuing, or that its rewards aren’t real. But for now, it’s clear that complex data-driven customer engagement is still in its infancy, and not the widely accepted practice most tech/marketing conference would have you believe.
A new survey from CMO Council and Pega Systems shows that data-driven customer engagement still has a long way to go.
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This week, Facebook re-launched Atlas, the ad platform it bought from Microsoft last year.
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In this one-hour webinar, Brian Solis shares research on how businesses explore digital transformation, including results from a 2014 survey of leading digital strategists.
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Thank you to everyone who joined us for Tuesday’s webinar on Digital Transformation. We had an excellent turnout from around the globe and received a lot of great questions throughout Brian’s presentation.
Today Sprinklr is announcing the availability of a paid media offering as well as a $40M in series D funding led by Iconiq Capital (which notably manages money for many of Facebook’s early employees, among others).
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Two things: To stay competitive with (or arguably ahead of) the giants in the social world—Salesforce, Adobe, and Oracle—Sprinklr needed to build out its analytics capabilities. Sprinklr’s customers increasingly need custom consulting services, especially for implementation and training.
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Have you read my report, “Make An App For That, Mobile Strategies For Retailers” yet? If so, and you didn’t have a chance to tune into today’s webinar, I want to share the content with you to use, share and discuss.
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