- Published on May 4, 2022
- In AI Features
Council Post: Things companies should keep in mind when using customer data to design marketing strategies
The companies should take initiatives to assure customers their data wouldn’t be misused.
Image by Council Post: Things companies should keep in mind when using customer data to design marketing strategies
- By Neeraj Pratap
Modern companies have unfettered access to a staggering amount of data to extract meaningful insights and predict future outcomes. They use data-driven marketing to reach their target audience and improve their bottomlines. Marketers rely on different types of customer data to make key decisions in terms of how and when to promote a product, devise action plans to drive conversions and understand the buying patterns of customers to optimise inventory planning and distribution strategies. The marketing analytics market was valued at USD 2.13 billion in 2020 and is expected to reach USD 4.68 billion by 2026, at a CAGR of 14 percent over the forecast period, as per a Mordor Intelligence report.
Marketing strategies are powered by the huge corpus of customer data and the analytics capabilit
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Neeraj Pratap
Neeraj Pratap is a Customer Experience Management & Marketing specialist with more than 27 years of experience in business/marketing consulting, brand building, data-driven strategic marketing, and digital marketing. He has developed and executed connected customer experience strategies, CRM projects, data integration projects, including customer life cycle management, customer segmentation, and customer engagement for clients across different verticals like BFSI, Auto, Consumer Electronics, Retail and Durables, Pharma, and Media.
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