Meeting consumers’ growing expectations should be a top priority of every business that aims to delight customers and survive in the competitive customer experience battleground. Top marketing decision-makers agree that it is essential to their growth to consider and anticipate customer needs throughout the customer journey. But, keeping up with the rapid pace of change and the customers’ evolving expectations is challenging.
To keep up with the customer needs, it is vital to get to know the consumer, create a first-party database and build a personalized communication. Although how is this possible?
A loyalty program apart from other reasons is always the best reason for consumers to share their data or in other words, a nice way for companies to collect valuable customer data. Companies far and wide are taking advantage of the power of data to increase ROI and become overall smarter, savvier organizations. Historically, despite the wealth of data available in the FMCG sector, the industry has lagged in other niches in effectively using big data to optimize marketing efforts, cut costs and create more efficient processes — but things are changing.
Advanced Customer Data Platforms (CDP), marketing automation tools powered by machine learning are the answer to all the concerns that marketers have today about finding effective ways to affect almost every brand purchase decision that their consumers make. These technologies not only help brands properly collect first-party customer data, but also communicate and build strong connections faster. For example, real-time product recommendation during the store visit, either online or offline, is an effective application of such tools. Therefore, through technology, brands can offer a personalized experience to customers, exactly when they expect it.
To provide such personalized communications to customers, brand marketers need to not just simply know who their customers are but understand their intent too. What are they looking for and in what context?
Reaching today’s well-informed customers is challenging but if done right, brand marketers can transform the typical give-and-get relationship and increase customer satisfaction and loyalty.
Let’s face it, knowledge is power, and big data analytics is making it possible for Consumer brands companies to understand what really makes their customers tick. The newest advances in big data provide brand marketers with the chance to obtain all-knowing, all-seeing superpowers-minus the x-ray vision. Sounds radical, but it is true.
Utilizing big data has even enabled FMCG giants like Unilever to pick up customers’ location to tell whether they purchased during their hectic daily commute to the office, or during the even more hectic weekly shop with the family.
It is fair to say that big data analytics has opened doors to new realms of possibilities for FMCG, and as companies in the sector begin to tap into the wealth of innovations big data has to offer, there is a lot to be excited about.
Download the Qivos Whitepaper, Customer Loyalty in Consumer brands, and get the chance to dive into the impact of big data on Consumer brands, exploring the most game-changing effects on the industry.