Customer Data & Analytics Blog

Data and Customer Loyalty: Part 3

Ed Wolf | 1 minute read

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“Bottom-up” Analytics—Data as a strong foundation for customer loyalty

Continued from part 2 of this series that ran last week on challenges marketers can face when they turn to data for guidance.
 
So the key, then, is to leverage all available data, while making sure that the data is clean, unified, and gives a true “360” view of the customer. Only then can marketers extract the real behavioral insight necessary for true customer engagement. While existing programs may be able to provide some general insight into customer behavior and inform marketing efforts designed to influence that behavior, we favor a “bottom up” approach. In other words, just as you would not want to build a house on a weak foundation, a strong loyalty program will leverage all available data sets to determine the most effective offers, tone, and cadence to deliver to customers and provide the framework to engage and reward them with relevance and personalization.


Indeed, marketing is at its best when it is taking its cues from data and personalizing customer communications in a way that sparks a desire to re-engage. A chief component of that is using data to anticipate customer behavior in order to create better experiences. This involves understanding where a customer is in the purchase and loyalty cycle and using that data coupled with the identifying CRM data to determine the right approach at the right time, via the right channel to reach that customer.

Conclusion—Data is the key

Data is the key that unlocks loyalty and paves the way toward true people-based marketing. And yet, for all the importance we place on data, many marketers continue to be effective at collecting it and less diligent about putting it to good use. Combining all available data from multiple sources in a bottom-up approach can help brands and marketers better define and advance their customers’ journeys, leading to increased loyalty, engagement, retention, and revenue.

 

 

 

Topics: Customer Intelligence