Posts about Customer MDM

With NRF 2022 complete, one thing is clear: change continues to be the new normal for the retail industry.

As industry leaders trekked back to New York to attend NRF 2022, attendees couldn’t help but notice that while things looked similar, much had changed. Since the last in-person NRF in 2020, while the world and various aspects of the global economy have shut down at various points, the retail industry kept going at an accelerated pace.

Photo credit: National Retail Federation

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Five steps to unlock the value of your data and achieve compliance, using approved data management principles

As your company’s connected and online business activities increase, so does the data generated by these interactions. But, how are you using this data? Are you harnessing the insights it imparts to increase sales or launch new products? If not, why not? This post gives you 5 steps on how to improve your data management efforts.

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It will not come as a surprise to anyone who has had to get leadership buy-in to invest in customer master data management to hear how frequently people in that position hear this commonly asked question: “Doesn’t CRM do that already?”

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Being a Chief Marketing Officer (CMO) today is one of the most challenging roles in the C-suite. Whether your organization targets consumers or other businesses, your current and prospective customers are bombarded with more information than ever before. And, the sources of information available to research their options are more numerous than at any time in history. Consequently, breaking through the noise to win customers, and then maintain their continued loyalty, can seem an impossibly daunting task.

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Apple’s Steve Jobs famously said, “A lot of times people don’t know what they want until you show it to them,” and this couldn’t be truer when it comes to meeting the expectations of the hyper-connected customer. Today, they increasingly expect a personalized, relevant experience during every interaction with a company, regardless of the channel. This has led to the concept of personalization, or personalized marketing, which is a marketing strategy by which companies leverage data analysis and digital technology to deliver individualized messages and product offerings to current or prospective customers.

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Do you know what one of your customers bought from you last month? Can you predict what they’re going to buy from you this month? Are you able to call them by their first name?

If not, then you could be missing out on additional revenue, since "93% of companies see an uplift in conversion rates from personalization." Your customers expect a personalized and relevant experience when they interact with you. Whether you’re able to deliver that depends on how well you know them. And, how well you know your customers relies on your data management.

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If you want to improve your customer experience, you must improve the quality of your data. This post highlights essential information originally presented in this webinar hosted by "The Data Doc," Tom Redman, and Stibo Systems' own, Rob Bruce. The information provides key insights about customers as they relate to your company and the constant collection of new data.

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