How The Right Analytics Can Strengthen Customer Engagement

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

Take advantage of data to offer customers useful and relevant experiences. Learn how to maximize your company’s

Being a part of a franchise that gathers data will prove to be a learning experience and also provide the opportunity to work first hand in a professional environment while also adding the satisfaction of exploring career and job connections that are available in the marketing field. This experience will affirm learning skills

Firms pursuing a specialization strategy often try to develop a competitive advantage based on customer intimacy and try to deliver unique and customizable products or services to meet their customer’s needs and increase their

The Partner Engagement is about how we make an impact to the customer experience and how we drive customer satisfaction through our individual contributions. It consists of various elements such as professional communication, making timely phone calls or providing examples as to how we can improve our customer service skills.

Data is an important component used by all technology and businesses to gain insights and refine their marketing techniques to improve customer experience. Through the use of data analysis companies can capture a large amount of data, and retrieve information regarding the company’s trends. In Richard’s case using data analytics allows him to gain better insights on customer behaviors, in which he was able to determine which factors influence a user to purchase the eReader early. These factors will allow the team to develop new business models and improve their marketing strategies to capture these individuals (“Big Data Analytics”, 2017). For example, if most of the early users are from California, it would be beneficial to promote the eReader

It proves that marketing is a revenue center and not a cost center. As marketing evolved, so did the analytics to support it, far from simple trial and error practices to a meticulous science. Everything undertaken in marketing analytics is about understanding the customer with a forward looking perspective (Venkatesan, Farris, & Wilcox, 2014). Guiding principles for marketing analytics involve relevance, immediacy, and intimacy (Hauser, 2007). First, the sophisticated and rigorous models must be democratized to convey the relevance of the output so recommendations are put into action. Second, marketers can no longer wait months to assess the effectiveness of their efforts given the 24/7 digital society created by the third industrial revolution. Finally, marketing analytics fundamentally nurtures the intimacy between the company and the

Deeper, more textured and widespread data exists in automotive today than ever before. We know our customer’s purchase habits, their equity position, what cars they are interested in, how often they view inventory - where they travel digitally. Data is important, but not the end game. The end game is what we can do with the data. Walking the exhibitor’s hall, I saw some fresh, innovative and sometimes disruptive solutions. I saw a few others that may not make it but out of the group, many will. More encouraging, solutions providers view data as a tool to solve problems plaguing our industry. This is a change in direction from an industry that saw the data itself as a product.

In order to meet these several objectives that arts organisations set themselves, during their planning they need to take into consideration the levels of audience engagement and use marketing and audience development approaches in order to reach these aims. Arts Council England says audience engagement is the activity which is taken to meet needs of existing or potential audiences and to help arts

Talking about the challenges involved, according to the company the only challenge is sanity of the data. If the data is correct then it is only advantageous. If the data is based on actual real time, either transaction history or some information provided by the customer on the website, it is just an upside because the company is able to customize the products and services which are lined up to the customer’s needs , causing both the customers and the company to be happy; leading to more transactions. Also, better conversion rates are expected as the promotions are more targeted as they are designed using data

The article fits effectively and efficiently in to the existing literature in relation to the concept of consumer engagement. The article notes that consumers and the concept of consumer engagement are more strategic means of enhancing relationship between shareholders and stakeholders within the market and industry of operation (Brodie et al, 2011). This is because of the opportunity to develop consumer interaction and participation. According to the article, consumer engagement is a multidimensional concept in the realization of the goals and objectives of an organization within the context of the market or industry of operation. It entails cognitive, emotional, and behavioural perspectives of the consumers thus enabling organizations to focus on the empowerment, satisfaction, loyalty, and trust of the consumers.

They either have too much data but having a hard time figuring out the right one to use, or they do not have correct metrics. Second, some companies cannot identify a cause and effect. It is hard to decide which campaign is really working when two marketing campaigns are overlapped and somehow impact each other. Third, some companies are not able to collect enough data somehow, such as B2B companies. Forth, companies find the data-driven marketing is time-consuming or they do not have tools and resources to support it. Fifth, different companies have their own philosophies and visions. For example, some companies consider marketing metrics will hurt marketing creativity, and some companies do not even care about the marketing results but focused mainly on marketing activities.

In today’s ever-changing world, it’s important for companies to react on the run to customers and to adapt in order to be competitive in terms of marketing campaign. Thanks to the internet, brands can collet incredible amounts of data concerning their customers. But also due to the development of new technologies and the faster communication coming together, brands have to raise customer awareness faster than their competitors. Therefore, brands have to constantly remain aware in order to be able to react to events or competitors’ actions.

One of the challenging debates that disturb business people in the modern world is whether they should go through the hassle of specialization or whether they should generalize their strategies and deal with multiple projects of selling a variety of different goods and services. The aspect of deciding whether to focus on generalization or specialization strategy is tough for both new and established businesses. However, some small businesses thrive by using specialization while others use generalization approach and still succeed.

•USS has Customer Engagement Marketing where they receive feedbacks from customers and improve on feedback thus improving customer relation thus preventing not meeting up the customer expectation.