With fast changing consumer behaviour, the multi-channel marketing vision is to ensure you are where your customers are.
Over the past two decades, all the efforts made by marketers to improve customer insight have been challenged by an increasingly complex multi-channel business model and fast changing customer behaviour. Indeed there has been a growing awareness of the need to gain an in depth understanding of the detailed data, however understanding customers as individuals is still significantly lacking. Marketers are attempting to get to grips with:
- How customers’ business interactions are changing from face to face and telephone to online and via mobile.
- How customers respond to different channel experiences.
- What the impact is of new influential channels such as social media.
This challenge, to bridge the void between a set of data and the individual customer, has led to many marketers realising they have a limited knowledge of their customers. Without a detailed level of insight, it is impossible for any marketing team to realise the multi-channel marketing vision - effectively allocating resources and budgets to gain a measurable return on marketing investment (ROMI).
So what does it take for marketers to gain an accurate and complete customer insight?
Move away from point solutions to a strategic focus based on a single customer view and consistent, multi-channel customer data. A recent survey published in ADWEEK revealed that 76% of marketers are not utilising behavioural data in either segmentation analysis or targeting. In our experience at Blue Sheep we know that very few companies have a single customer view that encompasses every activity, from browsing and social media to purchasing and payment.
Having a single view of the customer is critical because today’s customers interact with your brand in a variety of ways that involve much more than one touch point. It is vital that you understand how your customers behave across all channels, at each and every touch point, and that you also understand each customer’s value to you. Armed with a single view of the customer, marketers have the chance to meet this highly challenging objective.
Stacie Maxey, Head of Insight at LV=, one of the largest insurance companies in the UK, explained that,
“The Single Customer View is fundamental to every marketer and I don’t know how anyone can work without one. It allows for better targeting, cleaner data and easy customer or product segmentation across all areas of the business.”
We couldn’t agree more.