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BENIFTS AND CHALLENGES OF USING CUSTOMER DATA FOR MARKETING

When using the customer data for marketing there is a very thin line to be considered. The industry has its own best practise aligned to its execution which we are going to discuss in this blog. Some of the best practises are collecting the customer data and using this data for an enhanced and tailored customer experience in a convenient way but it has its own challenges to it which data usage restrictions, privacy measures, SSL clearance. However, these good and bad practises has to be delegated within to optimise and gain a competitive advantage over the market. Let us now talk about the benefits and challenges of using customer data for marketing (TCS Big Data Study, 2013).

Image result for good and bad characters


BENEFITS
1.     Customer Segmentation: Most of the companies are collecting data based on their target audience. Understanding the buyers journey and then nurturing the leads down to the sale funnel are considered to be the most proven practice in the industry (Lee, Justin; HubSpot: 2020).

2.     Aligning to Customer Interests:  Once a marketer understands the buyer journey then it is very easy to align the content according to the customers interest which in return enhances the customer experience.

CHALLENGES
1.     Disclosure (The Plodding) -  Marketers face this challenge every time, they do not like to place there terms and conditions in front of the product or page as customers do not appreciate to go through the tedious work and it takes them off-guard. It does not mean they do not want to know how there data is being used but they just want to know the information for compliance and peace of mind.  So, “just give them what they want” is the key challenge faced by marketers (Senturia, “Marketing With AI.”. 2018).


2.     Customer Data Accountability – When using consumer data marketers should use it for a better customer experience which enhances their buying journey but often companies collect data and flood consumers with emails and newsletter which creates a ambiguity amongst them. (Senturia, “Marketing With AI.”. 2018).


3.     GDPR Compliance – After the US elections in 2016, and raise of data misuse, the government came up with act which acts against data misuse. Here, marketers has to comply within the given guidelines as how and for what they are using the consumers data and for how long .  

The overall goal of any organization is to use the Big Data for better customer experience with a measurable outcome. Hence, driving the personalised buyer journey to a measurable outcome or conversion rate is the desired goal for a marketer Although, marketers face great challenges but they have to mitigate the bad elements to focus on the good elements (Minkara, Omer; 2014).

BIBLOGRAPHY
Senturia, Martha. “Marketing With AI: Chatbots Are Smarter Than You Think.” EContent 41, no. 4 (October 2018): 18–19.

Minkara, Omer. “Using Customer Data for Marketing: The Good, Bad & Ugly.” Aberdeen (blog), December 4, 2014. https://www.aberdeen.com/cmo-essentials/good-bad-ugly-using-customer-data-for-marketing/.

TCS Big Data Study. “Marketing: Big Data Benefits & Challenges,” March 12, 2013. https://sites.tcs.com/big-data-study/marketing-big-data-benefits-challenges/.

Comments

  1. Paola FernandezFebruary 25, 2020 at 2:51 AM

    It’s incredible how thorough your work is.

    Keep up the great work!

    ReplyDelete
  2. SushFebruary 25, 2020 at 3:05 AM

    Great work

    ReplyDelete
  3. AshFebruary 25, 2020 at 3:07 AM

    Thanks for sharing!

    ReplyDelete
  4. Wayne DFebruary 25, 2020 at 3:12 AM

    Great work! Thanks for sharing

    ReplyDelete
  5. AvanishFebruary 25, 2020 at 4:03 AM

    Amazing ! Just loved it. Good work Saurav

    ReplyDelete
  6. Dylan O'ReganFebruary 25, 2020 at 5:58 AM

    Superb blog Saurav with some great and valuable insights. Well done

    ReplyDelete
  7. Colin AlmeidaFebruary 25, 2020 at 6:11 AM

    Customer data is important for marketing and you have explained how we can implement it efficiently.

    ReplyDelete
  8. LeonardFebruary 25, 2020 at 8:00 AM

    One of the keys for marketing!

    ReplyDelete
  9. vardan aroraFebruary 25, 2020 at 1:04 PM

    Thanks for sharing. Very insightful

    ReplyDelete
  10. SCSFebruary 25, 2020 at 2:20 PM

    This is a brilliant peice of work Saurav! Well done

    ReplyDelete

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