[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.the-future-of-commerce.com\/2017\/05\/17\/how-to-use-the-right-data-at-the-right-time-for-better-customer-relationships\/#BlogPosting","mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2017\/05\/17\/how-to-use-the-right-data-at-the-right-time-for-better-customer-relationships\/","headline":"How to use the right data at the right time for better customer relationships","name":"How to use the right data at the right time for better customer relationships","description":"How well do you really know your customers? 3 ways to leverage the right data at the right time to enrich customer relationships According to an eMarketer study, most marketers have only rudimentary data about their customers. In fact, 80% don\u2019t have much customer data beyond basic contact information and product purchases). This greatly limits […]","datePublished":"2017-05-17","dateModified":"2022-03-04","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/contributor\/bernard-chung\/#Person","name":"Bernard Chung","url":"https:\/\/www.the-future-of-commerce.com\/contributor\/bernard-chung\/","identifier":131,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d8423fb16902f8cc3d8c83adcff3864c5fca774311335a2b8fc3175ecc87578a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d8423fb16902f8cc3d8c83adcff3864c5fca774311335a2b8fc3175ecc87578a?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"The Future of Commerce","logo":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","width":172,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2017\/05\/thumbnail-a621cf5e10b9ab47ceeb4aaf581b36a2.jpeg","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2017\/05\/thumbnail-a621cf5e10b9ab47ceeb4aaf581b36a2.jpeg","height":375,"width":1200},"url":"https:\/\/www.the-future-of-commerce.com\/2017\/05\/17\/how-to-use-the-right-data-at-the-right-time-for-better-customer-relationships\/","about":[{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/marketing\/content-marketing\/","name":"Content Marketing","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Content_marketing","http:\/\/www.wikidata.org\/entity\/Q558685"]},"Customer Journey",{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/marketing\/","name":"Marketing","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Marketing","http:\/\/www.wikidata.org\/entity\/Q39809"]}],"wordCount":899,"keywords":["Customer Engagement","Data"],"articleBody":"How well do you really know your customers? 3 ways to leverage the right data at the right time to enrich customer relationshipsAccording to an eMarketer study, most marketers have only rudimentary data about their customers. In fact, 80% don\u2019t have much customer data beyond basic contact information and product purchases). This greatly limits the ability of organizations to know customers well; to predict purchase patterns, preferences, and potential lifetime value.It\u2019s not surprising that deeper customer insights bolster customer satisfaction and loyalty. The challenge is how to capture insightful customer data and integrate it into actionable strategies across an organization. Often times, even the data that is captured is often siloed and inaccessible, leaving marketers without a consolidated view of customers.Think of all of the ways customers are \u201ctouched\u201d within the typical marketing\/ sales \/ service\/ processes. With all of these systems, it\u2019s difficult to gain complete and consistent insight that prevents organizations to deliver \u00a0a unified message that reflects an understanding of where the customer is on his journey. New innovative marketing technology enables real-time understanding of the latest transactions, messages, and communications and brings everything into one unified view . This allows all customer facing aspects of an organization to consistently and seamlessly engage with customers across channels, devices and departments.Here are 3 ways to leverage the right data at the right time to enrich customer relationships1. Get creative about capturing deeper customer insightsIn most cases, customers are very protective about sharing their personal information, unless they perceive a proportionate value in doing so. Finding ways to make the exchange of information worth it for the consumer takes creativity as well as insight into the customer.First step to capture deeper insights is to identify your customers at the point of interaction. \u00a0if don\u2019t know who are interacting with, you can\u2019t deliver individualized experiences and \u00a0you won\u2019t be able to properly attribute that interaction to the correct customer. \u00a0Identifying ways to identify and capture insightful customer information in exchange for value is critical.ASICS running shoe company successfully solved the problem of collecting the right customer data by getting around the natural customer tendency to keep personal information and preferences private. They did this by offering a truly value-added Foot ID program. The program measured the customer\u2019s feet and put them on a video treadmill to analyze their running pattern. This in turn allowed ASICS to make personalized shoe recommendations. ASICS capitalized on the customer data, gaining insight through POS and website to learn how, where, when, and how frequently customers made purchases. This enabled proactive communication about new products rather than generic outreach. In other words, ASICs gathered invaluable customer information by offering a service.2. Real-time analysis and response to opportunitiesOnce you ask the right questions and collect the right data, it\u2019s only useful if it\u2019s accessible and actionable across the organization. In today\u2019s digital world, people are generating mounds of data with every interaction, organizations need the ability process large volumes of data very quickly. \u00a0And have the advanced analytics to interrogate the series of data to look for opportunities. \u00a0The window of opportunity to identify and respond to customers is getting shorter, customers are just another click-away or finger tap away from your competitors.In the case of the National Hockey League (NHL), bringing together various siloed systems (ecommerce, data, ticketing, Yahoo! Fantasy NHL site, and others) helped streamline data collecting and enabled deeper analytics across the organization. The NHL already had rich customer data (such as favorite team and player, and preferred way of interacting with the fantasy league), but initially lacked the technology to turn this information into more sales. Until they brought the customer information with the analytics under one system, they weren\u2019t utilizing the full potential of their customer data.A new breed of marketing technology changed all that. Once data collection and analysis was coordinated and streamlined, the NHL could mine customer information to identify fan opportunities and to react in real-time to create unique and deeply personal customer experiences. For example, a customer might receive an email about an upcoming game, with related analysis and ticket offers. If they attended a game where their preferred team won, they could then receive real-time merchandise offers relating to their favorite team or favorite player. Capitalizing on this post-win euphoria allowed the NHL to drive them toward real-time merchandise opportunities (their favorite player on the winning team, e.g.) while the fan was still in the sporting venue. The NHL\u2019s ability to consolidate data in real-time and gave them the tools they needed to act quickly to take advantage of sales opportunities.3. Leverage advanced \u00a0analytics to gain deeper customer insightsBy leveraging new marketing technologies that incorporate data management capabilities customer behavior insights and preferences management can be utilized to develop customer strategies . \u00a0But it\u2019s not enough to capture and then consolidate data. You also have to leverage the right analytics tools that enable machine learning, predictive analytics, and visualization capabilities, to be more accurate in targeting and delivering enriching customer experiences. Otherwise, all the data in the world will lend zero intelligence to the marketing endeavor.  Every digital moment matters.Are you making the most of them?1,000 business leaders dish on how to stand out from the crowd with a great CX. Get the details\u00a0HERE.\u00a0"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2017","item":"https:\/\/www.the-future-of-commerce.com\/2017\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"05","item":"https:\/\/www.the-future-of-commerce.com\/2017\/\/05\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"17","item":"https:\/\/www.the-future-of-commerce.com\/2017\/\/05\/\/17\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"How to use the right data at the right time for better customer relationships","item":"https:\/\/www.the-future-of-commerce.com\/2017\/05\/17\/how-to-use-the-right-data-at-the-right-time-for-better-customer-relationships\/#breadcrumbitem"}]}]