Individualised insights: leading customer interactions beyond mass personalisation
This article was produced by Marketing to promote the asset, ‘Essential Steps to Implementing Individualised Insights’ for Teradata.
As mass personalisation becomes a standard, no-longer-innovative tactic, nine out of 10 marketers are prioritising individualised marketing.
That’s according to a study cited by Teradata in its latest report, ‘Essential Steps to Implementing Individualised Insights’, which also reveals that only 50% of marketers use data to individualise messages and offers.
In a world where the customer is in the driver’s seat of brand interactions, it’s important that marketing messages are as relevant to the individual as possible.
Mass personalisation, once innovative but now standard fare of any marketing campaign, is no longer good enough. In 2014, only 14% of customers said they would read a message simply because it contained their name, according to The Economist.
Big data offers marketers the ability to gain an integrated, centralised view of customer behaviour, leading to benefits including:
- improving processes to increase agility and efficiency,
- achieving meaningful engagement and improved customer experience,
- providing competitive differentiation, and
- increasing sales and revenue.
“We can understand our customers as individuals – each have their own preferences and behaviours – and we can provide meaningful experiences based on that knowledge,” the Teradata report says.
“This type of interaction and customer foresight can only come from data-driven marketing.”
The ‘Essential Steps to Implementing Individualised Insights’ report details four initiatives that companies can adopt in order to realise the benefits of individualised insights.
Each of the following four points are explored in detail, including customer success stories for each.
Four initiatives that fuel individualised marketing
- Integrate and understand: Gather and connect customer data from all available channels to develop a 360-degree customer view,
- Analyse and discover: Gain rapid insights that reveal who to contact, when, and with what offer,
- Act and optimise: Bring insights to market in highly personalised marketing campaigns through an efficient and optimised marketing team, and
- Execute and deliver: Deliver individualised messages to customers with a consistent experience, no matter which channel a customer chooses to interact.