Did you know that enough data is created each year to build a wall of 32GB iPads that is wider and taller than the Great Wall of China? According to the IDC, consumers created 1.8 zettabytes of information in 2011, and the world’s information has more than tripled since then.
Every single data point is an opportunity to connect with your customers in more meaningful ways, and managing today’s volume and variety of data effectively is an imperative for businesses to meet customer expectations. Consider the following benefits of “big data:”
- 73% of consumers prefer to do business with brands that use personal information to make their shopping experiences more relevant (Digital Trends)
- A retailer using big data to its full potential can increase its operating margin by more than 60% (McKinsey)
- More than two-thirds of business execs believe they could lose their market position in the next 1-3 years if they don’t adopt big data strategies (Accenture)
Businesses are trying to collect as much data as they can in attempt to learn more about their customers. But while data has the power to help you develop more personal customer relationships and relevant user experiences, if it is not collected and managed properly, it can lead to a totally disorganized and inaccurate view of your customers.
As channels fragment and consumer identities multiply, businesses are struggling to effectively collect and manage customer data to achieve a single customer view. In fact, according to a recent Experian survey, while 99% of businesses believe a single customer view is important to their business, only 24% claim to have a clear understanding of their customers across channels.
Our new eBook provides actionable strategies for how your business can achieve this “holy grail” to better understand your audience and build meaningful, identity-driven customer relationships.
Get tactics and examples to help you:
- Identify your customers across channels and devices
- Manage today’s volume and variety of customer data
- Integrate and apply data across marketing campaigns
- Build more personalized customer journeys
By Tobias Meyer-Grunow