Fall is here and the holiday season is upon us. For many businesses, this season correlates to the most profitable quarter of the fiscal year. Every year holiday spending numbers continue to grow as buyers become more and more informed on what businesses offer. It’s no coincidence that consumer spending has increased; the proliferation of marketing media—both print and digital—has become more prevalent in the customer experience than ever before. This enhanced customer experience directly equates to an increase ‘buy-in’, producing larger financial returns.
The Canon Solutions America PressGo! webinar, The Right Data at the Right Time, unpacks how this trend has surfaced and offers advice on how to take advantage of the opportunities it presents. InfoTrends’ Lisa Cross discusses the importance of data collection and analysis in the advancement of an enhanced customer experience. Cross defines the customer experience today, explains the value of the right data, and offers tips on how to harness the right data to drive results.
One key take-away Cross highlights early in the webinar surrounds the concept of “me-marketing”. With stark competition vying for consumers’ attention, me-marketing plays an intricate role in appealing to an individual customer’s wants, needs and values. “If you want to get someone’s attention, make it about them,” says Cross. Personalized and targeted messaging creates a stronger line of communication, which in turn fosters a stronger relationship with the individual consumer.
So what kind of data drives me-marketing? Data that quantifies and qualifies consumers’ likes, interests, purchasing behaviors, lifestyle, and so on. Data can be structured, i.e. numbers that fit into a spreadsheet nicely, or unstructured, i.e. text and multimedia data that require extra steps for organization and analysis. It is not difficult to collect these types of data. Rather, the challenge lies in identifying which data have meaning and in deciding how to effectively apply this information to improve returns and advance consumer engagement. According to a recent study, 66% of marketers believe data-driven marketing promotes positive value to companies today. By collecting customer and sales data, marketers are able to consolidate, profile, rate and analyze the information in order to create the most appropriate marketing campaign for their target audience. There are a number of technologies available to achieve data collection and analysis: analytics, infrastructure, open-source, to name a few.
Keeping true to the trends, the print industry as well has entered the data-driven marketing space. Printers are in the mix of providing data services in management and analytics. Not only does the printer provide the means—or channel—of a communications piece, but also the printer is able to actively participate in running the marketing campaign. Clients now partner with print providers for data list acquisition, programming, campaign dashboard creation and response tracking & management. These services are vital towards achieving a client’s marketing goals, and thus, larger returns.
As the trend continues to emerge, it will be interesting to follow how print providers respond to the call for data services. If you want to learn more about data-driven marketing and the challenges in executing personalized campaigns, be sure to check out the full webinar here!