CONSUMER DATA & BUSINESS RESILIENCE

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CONSUMER DATA & BUSINESS RESILIENCE
Labrys Labrys |
Labrys
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Firms face many challenges regarding their response to COVID-19 consumer behaviours. Our Regional New Business Manager Hakan Suer has shared his insights and expertise on how to adapt businesses to this constantly changing business environment and to unpredictable consumer behaviour within the “Building Business Resilience – Keep up with the post Covid-19 consumer” event, organized by Oracle & IDC which took place on April 22nd. Here are some important notes from the webinar:

Own Your Data, Grow It, Leverage It

It is not always easy for firms to adapt to rapid and drastic changes of consumer behaviour. To adapt themselves to these constantly changing environments with the same rhythm as their clients, firms need to pay more attention to their first party data. In their first party data lies the response to dynamic needs of clients, because this data can be considered as the journal of their clients. By keeping track of this data and nurturing it with the help of right CX architecture, firms can achieve the needed conversions and reduce their advertising and marketing costs.

The right management of advertising platforms allows decreasing media costs while optimizing sales conversions

DCX (Digital Customer Experience) investments are not only about implementing a new sophisticated technology, but they are also about revealing the true value of a company’s CX efforts and seeing its results on the company’s daily business operations. Nowadays, the digital marketing efforts are strongly linked to the management of data. Collecting data from visitors to nurture them with the right content in the future depends on a company’s ability to manage this data correctly and efficiently. Growing a first party database is an extremely important investment for its future, because this data represents the base of the invisible capital of companies. The more one collects data on his visitors, the less he will need to spend on advertising to communicate with them in the future.

Branding lies in experience

Here comes the role of omni channel marketing. Consolidating the data sets coming from various channels and managing these different sources of data on a single platform are vital to get the best performance from a firm’s marketing efforts. This practice helps firms to keep track of their visitors and retarget them. Furthermore, it helps them to exclude some segments, by helping them to avoid sending unnecessary messages to certain groups for instance trying to sell a specific item to a person who has already bought that item.

If you need support to strengthen your marketing strategy with a solid CX architecture behind or need to see where your company stands and detect troublesome points of your marketing strategy, please check out our CX & Digital Marketing Audit page and contact us.

 

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