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Data Is The New Marketing Currency

Data Is The New Marketing Currency

Brands today are differentiated by how well they know their customers and craft campaigns that are intuitive and useful for the end-customer. Data does exactly that and enhances the efficacy of marketing campaigns. Data-led insights give us the liberty to investigate the diversity of user behaviour and understand our customer base more intimately. The barrage of data created online every day is amplifying at a magnificent rate. The lack of an effective tool can confound marketers and even diminish the data’s utility because of failed attempts to integrate the widespread information.

Sitting on a deluge of fragmented, disconnected data pointers is counterproductive to growth. Marketers are losing sleep trying to figure out ways to help their businesses create a single source of truth. The solution is to decentralize data silos, make them accessible to multiple business users and enable marketing teams to create engaging marketing campaigns. 


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The need for an intelligent CDP is urgent

The rise of Customer Data platforms has been sharp, thanks to modern marketing solutions that rely heavily on data-driven campaigns. A CDP acts as a singular storefront for data residing on multiple fronts (CRM, legacy marketing solutions, analytics platform, DMP). CDP pools customer data into one place for marketers to get a 360-degree view at any given point in time. This helps marketing and product teams rely on a single source of truth for understanding consumer behaviour.

There are several solutions out there that will help you assimilate your data to create a data warehouse, data lake, or similar sounding fancy names. But, this isn’t enough to help you scale your marketing and engagement efforts. A CDP is essentially incomplete without the ability to govern data, create dynamic segments and use this data seamlessly in campaigns, and lastly, creating up-to-date profiles for users: known and unknown. 

An efficient CDP will facilitate data mobility, pull data from multiple sources and send it to other platforms. The consolidation of user-profiles will help track the whereabouts of known and unknown users. Marketers then will be able to act on this and design a relevant communication strategy for the users. 

All the data is then used intelligently to create small customer segments, which is leveraged across omnichannel campaigns. This allows marketers to deep dive into multiple use cases in a customer lifecycle. Context is King! This adage summarizes the final step, insights. The incredible insights from intelligent campaigns contribute to faster decision-making and carve out marketers’ next steps.

Customer centricity is key

Customer centricity is an indispensable affair for brand growth. Brands are essentially by the customers and for the customers. Customers come first, and they remain first when brands deliver an intricately curated and delightful experience every single time. 

When customer data is integrated with marketing technology, brands can create powerful customer experiences with an intelligent strategy. The power lies in personalization. Analyzing user behaviour from purchase history and personal data to create predictive campaigns can generate revenue from existing customers. Data led personalization has enabled brands to even reactivate dormant users by leveraging an omnichannel approach. Be where your customers are in the true sense.

The process is complete only when the engagement strategy is powerful throughout a customer journey. Lifecycle marketing campaigns executed with the aid of workflows ensures this. Analyze customer funnels closely to find out what customers are doing on your platform, and create onboarding flows and lifecycle journeys that target specific use-cases. Orchestrate conditional campaigns with automated cross-channel engagement to create contextual experiences for users. 

Setting behavioural triggers ultimately helps deliver a delightful experience and differentiates one brand from the other. Evolving consumers want to be treated well by their favourite brands and are often willing to spend additional resources for the best experience. A pleasant experience assures that customers convert fast and come back even faster for another purchase.

Measuring the impact of your marketing campaigns

Measuring marketing efforts has always been a marketers dilemma but not anymore. Data led engagement strategies have helped reach better conclusions and take better next steps. The power of analytics plays a massive role in ROI measurability. Razor-sharp insights with campaign and product analytics assist in getting an in-depth understanding.

Cohort analysis, RFM (Recency, Frequency and Monetary) segmentation, and Funnel analysis facilitate understanding the customer journey better. Marketers are then equipped with insights that can be used for the next steps, but it is essential that brands have the right tool for this.  

Data, an indispensable resource for marketers

Data offers an edge to marketers who continue to get more inventive, closer to their consumers and add real value with engagement that is contextual and personalized. The goal is to get access to an easy to use marketing stack that demystifies data utilization and enables personalized engagement for your users.

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Avlesh Singh
Avlesh Singh has had a remarkable journey – transforming from an IIT (Indian School of Mines) Dhanbad Graduate to one of the most influential SaaS entrepreneurs in India. He began his career as a Principal Engineer and Search Architect with burrp! and built the technology backbone for the company. During his year-long stint at Infomedia 18, Avlesh played an instrumental role in building the backend tech for, one of the first online classifieds portals of India. In 2011, Avlesh Singh decided to venture into the software-as-a-service space, and along with Ankit Utreja, the duo Co-FoundedWebEngage.

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