Do you remember the first time you saw your name in an email subject line? Or the time you received a push notification informing you that something was “back in stock”? With hundreds of marketing messages sent to customers every day, they become so normal that they no longer notice standardized personalization practices. The biggest challenge facing marketers today: how to personalize more to create tailored experiences that are memorable.
36% of brands struggle to get personalization right. But how do you personalize tailored experiences that best meet customer needs – at scale?
Every customer is unique. The problem often lies at the beginning: A lack of consistent customer data leads to a poor understanding of the customer. As a result, your customer experience only meets standard expectations instead of creating unforgettable experiences through a tailored approach. The content, the way you interact and understanding what works for each individual customer are fundamental pieces of the personalization puzzle.
To seamlessly orchestrate an integrated, customer-centric finland phone number data experience, the way you store, structure, activate and use your data across your organization can make or break your strategy. In fact, McKinsey found that companies that get their personalization right can potentially generate 40% more revenue. Surprisingly, many companies are still not fully able to achieve this. That's why we commissioned a study to get a better overview of the measurable benefits of Mapp Marketing Cloud.
TABLE OF CONTENTS
What Forrester found out about Mapp
What marketers actually do with their customer data
How to look at customer data the right way
The personalization puzzle pieces
5 things marketers miss in their personalization
Prenatal case study: How they hit the mark
WHAT FORRESTER DISCOVERED
After we commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study on Mapp Marketing Cloud in 2022 , it highlighted the most common challenges our customers faced before implementing our solution: lack of a foundation for understanding customers and limited opportunities to reach and retain customers.
"If you miss key insights, you miss the mark with your customers. When surveying our customers, Forrester found that this gap resulted in duplicate and irrelevant messages being sent to customers, resulting in low engagement. These elements are just some of the fundamental CX personalization that can make a big difference in what you can create, how you can engage, and know what works for each customer and at scale," explains Ricardas Montvila, VP Global Strategy at Mapp.
Mapp-ForresterStudy-Blog-DE
By using Mapp Marketing Cloud to unify, analyze, and act on data, the entire organization can realize greater value through increased engagement and more personalized messaging.
This raises an important question…
WHAT EXACTLY DO MARKETERS DO WITH THEIR CUSTOMER DATA?
Companies that use advanced personalization have seen a $20 return on every $1 spent. After realizing the importance of data, companies are adopting data-driven strategies to optimize their marketing accordingly. However, these same companies have more data than they realize because it is often stored in separate systems and sources.
CRM, transactional, behavioral and even offsite data are all parts of the profile of customers and their relationship with a brand. For example, do they keep coming back to a product but never seem to add it to their cart? Do they interact with one channel more than another? Has their AOV remained unchanged over the long term?
Data silos create a fragmented view. Because there is no central source of information, different stakeholders and teams are inconsistent or misinformed. The result is fragmented marketing.
Even if you have access to a goldmine of data, siloed data means internal teams aren't aligned. This can show up externally in your marketing communications. Fragmented marketing leads to inaccuracies, gaps, friction, and information overload, making it difficult for your team to bring your marketing together for revenue-driving customer experiences.
HOW TO GET THE RIGHT VIEW OF YOUR DATA
There is no one size fits all solution. It all depends on your KPIs, metrics and goals. Every company needs a tailored infrastructure for structuring and visualizing data. To achieve this, it is important that you align with different stakeholders (data teams, executives and, if outsourcing exists, even agencies) on how data is used between your teams.
The better a company is able to use data to expand customer knowledge, the higher the returns.
IMPLEMENTING CUSTOMER DATA PLATFORMS (CDP)
Customer data platforms unify, centralize, structure and store data from your data sources for better processing and flexibility. On top of that, zero-party and first-party customer data is collected from your various touchpoints. This allows you to segment your data to create and complete customer profiles, giving you real-time insight into their behavior.
TIP: For businesses with an offline presence, CDPs help bridge the gap between online and offline data, providing a complete omnichannel customer view. By collecting customer data at the POS, you can log what they buy in-store or what inquiries they have. You can trigger alerts based on in-store behavior.
FIRST AND ZERO PARTY DATES
The end of third-party cookies has caused marketers to re-engineer their understanding of customers, and leveraging these two types of data is now seen as the way forward for marketing to deliver tailored messages in an accurate and compliant manner.
First-party data: This type of data is collected by you as a company and is owned by you. This often happens through behavioral data, social data, purchase data, cross-channel data and more. The biggest advantage: data is collected by your company.
Zero-party data: The customer knowingly provides data directly to your company, which may include their preferences, email address, country, language preferences and name. Gamification, quizzes and surveys are often used in this context.
Using both types of data in your strategy will make your data more reliable, qualitative, cost-effective and GDPR compliant. If you use this effectively with a CDP that structures and visualizes this just as effectively, you can shape the customer journey across your different channels in real time. This includes all data and events related to browsing behavior, in-store behavior and your customers' preferences.