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The Need for Customer Data Strategy to Evolve

Wrong WayThe past few years have revealed that there is a need to change the way we think about and handle customer data. For years, the de facto practice was to tie all the systems together in order to achieve a 360-view of our customers, but the industry’s shift to the cloud means that the things that you already know about your customers is, at best, only half of the picture.

It’s no longer enough to know everything about the prospect, you also need to know about what’s happening in their environment. This is why it has become a common practice for employers to research potential candidates based on what they put out online – from personal websites, to public social media profiles. It’s something that was surprising a few years ago but expected even by the employees this time around.

Four Key Components of a Successful Customer Data Strategy

Right now, the changes in the industry means that your data strategy with regard to customers need to evolve in order to avoid obsolescence. These include being based on the cloud, being mobile-ready, going for an app platform, and taking advantage of “smart” data.

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Insights Via the Cloud

Now that analytics tools is available to everyone, most of them for free, the balance of power has shifted and people now have the necessary tools to become a catalyst for addressing issues with customer data quality, regardless of their position within the business ladder. The main goal is to minimize the “unknown” elements in the systems, particularly when it comes to prospects.

It’s clear to anyone who bothers to look around that significant changes are already happening in how customer data is managed by businesses, and it’s a change that is being experienced not just by the businesses, but by the customers themselves. Not keeping yourself up to date will be a recipe for failure.

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