Benefits and Challenges of using Customer Data for Marketing

Benefits and Challenges of using Customer Data for Marketing

(“Customer Data and Marketing - Google Search.”)

“A KEY ELEMENT OF A SUCCESSFUL BUSINESS LIES IN YOUR CUSTOMER BASE”

 A Customer Database is a list of details on all customers who have purchased from your service. It is the most versatile instrument accessible to you. What's better, after all, than repeating business? You are losing potential sales if you do not take advantage of your customer database.

You may target this segmented audience and offer the red carpet therapy. Satisfied customers are just as good a business. Through details such as buying habits, reviews and updating after-sales, companies can take a consumer-centred approach towards customer service. Holding your client base up to date provides the knowledge needed to personalize contact so that you can better serve them. One of the main benefits of a customer database is that it has been purchased from you in the past from actual customers. The biggest advantage of using these names is that they are already involved in your product or service because they are verifiable customers. 

Based in your customer database, you can target an audience. Choosing a group of your trusted customers will allow a company to gather constructional input that can improve future product versions. Having a handle on what consumers believe and want is a good way of improving your goods and how you sell them. 

Customer information is now crucial to any business, regardless of the sector. For particular the new GDPR needs the cooperation of IT and Marketing teams to collect, handle and deliver data efficiently.  Organizations now have more customer data, from various sources like social networking, Wi-Fi marketing and many other platforms, than ever before, but limitations are always there when it comes to its productive use. About a quarter companies said the major problem was processing customer data, and this clearly shows that more analytical expertise is needed. Nearly 18% of businesses said the biggest challenge was poor customer data (outdated information and incomplete data).

References:

1.     ebsedu. “Challenges of Data-Driven Marketing (And How to Conquer Them).” Eaton Business School (blog), September 16, 2019. https://ebsedu.org/blog/data-driven-marketing/.

2.     “Customer Data and Marketing - Google Search.” Accessed February 20, 2020. https://www.google.com/search?q=customer+data+and+marketing&sxsrf=ALeKk00CjYhzkZIXKrn7DUveA8Km9XoOkw:1582124829984&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjq3eyj8t3nAhUPSBUIHQXMBsAQ_AUoAXoECA4QAw&biw=1440&bih=821#imgrc=nXDWTn2HI8kUcM.

3.     April 11, Jim Conning, and 2018. “The Four Key Challenges of Customer Data Management.” ITProPortal. Accessed February 20, 2020. https://www.itproportal.com/features/the-five-key-challenges-of-customer-data-management/.

4.     Strategic Marketing. “Five Benefits of A Customer Database,” February 18, 2019. https://thinkstrategic.com/five-benefits-of-a-customer-database/.