11 January, 2017
Getting Data Management Right: Using Data To Understand Your Customer Base
Fragmentation – it’s one of digital marketing’s biggest hurdles. As defining customers becomes increasingly difficult, brands across the UK are looking to understand and segment their audiences recognizing that it is essential for brands.
With so many channels available for businesses to speak to their audience, there is more data available on customers than ever before. But where do businesses begin when it comes to breaking down all of this data to truly understand who their current and new customer is?
Data management services are fast becoming the solution, combining interaction, descriptive and behavioural data to help brands understand what makes their customer tick. And with such valuable data comes great responsibility for marketers – they must use these insights to their advantage to not only support their business growth but ensure they are truly getting to the root of what the customer wants from their business.
Making sense of all the data
Tapping into rich data resources which hold first-party data sounds like a no brainer, but surprisingly there are few marketers who actually capitalise on the value of their own data. The reality is that many brands don’t know how to make sense of the data available on their audiences nor can they merge cross-channel data, making it difficult to create meaningful insights on how to optimise processes. This ultimately leads to a disjointed experience as well as inconsistent reports due to data coming from multiple channels.
There are many reasons for this, such as the technologies in play which are often siloed across separate departments. These include search, display, social media and more, which effectively results in fragmented insights on audiences and their behaviour. When it comes to reporting, Facebook Audiences differs from AdWords, as does Twitter from Display, so aligning data is inevitably overwhelming and incredibly difficult. And that’s not even the end of it – there is also an analytics layer of technology which reports behaviour on the site, user engagement and their source to name a few.
This is all well and good, but none of the above – apart from social media channels due to their audience-driven nature – offer more insights into who the customers are, their interests or how they spend their free time.
Of course, by paying an extra fee and acquiring a solution such as Google Analytics Premium, marketers would be able to unlock more insights on their data. As with a data management platform, they would be able to on-board customer data into custom dimensions and then build audiences that can be targeted in DoubleClick Bid Manager (DBM). However, the main issue is that Google seems to be restricting its application to the Google universe, which in today’s world of multiple marketing tech providers is somewhat limiting.