In my last article, I discussed how to set the foundation for achieving a 360-degree view of your customers and the role of data. Here, I’m going to explore how marketers can make data actionable and realize the benefits of the enhanced customer view.
In the past, marketers had to ‘plow through’ hundreds of data points to try and get an understanding of their customers. Today, we can churn data at a rapid speed and the insights gleaned allow marketers to not only get to know their current customers, but future ones as well. The role of technology and the process of creating compelling content are essential in this process. Let’s take a closer look.
Machine learning technology enables the ability to create many more granular segments and therefore more personalized messages. At Epsilon, we created a machine-enabled segmentation strategy known as VAP (value, attrition and potential). VAP provides a basis for defining your communication strategy at a customer level, optimizing alignment of marketing efforts.
This means communications can be customized based on VAP driven segments that are processed via ‘the machine’ – ignore, activate, retain, engage, upsell – and are applicable to loyalty programs as well as individual marketing campaigns. Once you understand these segments, the next step is to ensure you have the right content for each segment.
Understanding behavior is essential in providing relevant content in both the online and offline channels. As marketers, we have the tools and techniques to “curate personalized messages at scale.”
For example, I recently purchased eyeglasses online at eyebobs.com. From my purchase, the retailer has an understanding of my style and design preferences when it comes frames. Now, they are sending me personalized messages (content) of the new fall frames based on my past purchase behavior.
In the context of a loyalty program, which is permission-based marketing, a brands’ understanding of its members’ behavior greatens as they have access to hundreds of data points relevant to the consumer (the member). This helps brands to deliver 1:1 content that creates an emotional connection.
So the question we often get asked is how can we implement a sustainable content strategy. Here’s a couple of tips for your consideration:
So take a step back, and think about how you can make your data useful. In my next article, I’ll share tips and techniques on how to reach each and every customer in the omnichannel landscape and how marketers can bridge the gap between offline and online.
*This article first appeared on Loyalty360.