Acquire, Grow, Retain: Enhancing the 360 View of the Customer
James Kobielus: 360 Degree View of a customer it’s not hype. It’s something that the best businesses have been doing for a long time. And what that involves is just getting to know your customer better. You have all the information externally about how the customer has behaved in the past and how they’re behaving now. But what you really want to know is what’s in their heart. You want to know their experience; you want to know their deepest desires in the areas where you can serve them.
Graeme Noseworthy: For marketers that discover these data-driven insights, they end up generating a currency of relevance, and that relevance drives business success. They can tailor offers, track relationships and they can truly know where their customers reside within the purchase funnel.
James Kobielus: The way to do that is to have a comprehensive big data platform that can process, manage historical data at rest, real-time data in motion as well as execute the predictive models that help you to keep that customer relationship growing, keep it happy. That’s all the power of big data.
Graeme Noseworthy: Traditionally marketers relied on tactics that took time- A/B testing, market research, focus groups. These were things that could take weeks to uncover the trends and the successes and the challenges that lay within your campaigns. With the right mix of tools and technology, data-driven marketers can finally understand their audiences in real time.
James Kobielus: And big data platforms like IBM PureData System for Analytics are a chief platform for doing just that.
Graeme Noseworthy: For example DataLogics is a marketing-service provider that helps marketers to combine on and offline data to really power direct-mail campaigns. By partnering with IBM, their data analysts can now join a 600-million-row table to a 400-million-row table in a matter of minutes.
James Kobielus: Coupons.com distributes digital coupons and loyalty programs using big data analytics to look into consumer behaviors and to provide a better experience. Getting a handle around the deep future of the customer under various scenarios with predictive and statistical modeling- that’s a critical application for big data platforms. So you can do all of those good things to make the customer happy, to keep them on board to upsell them and cross-sell them on new products. And also, of course, to retain them ongoing so they will hopefully influence others through social media and other channels.
Graeme Noseworthy: As consumers, we want marketers to know us better than we know ourselves, because as we interact with your brands, we want you to drive the relevance that we require. James Kobielus: The more relevant your messages are to the customers the more likely they are to pay attention to you and the more likely you are to realize a great return on your marketing investment.