In a world brimming with information, managing customer data has become more critical than ever for brands and organisations of every kind. Rich customer data is an extremely valuable resource, helping to build personalisation strategies and assisting businesses in making better, more informed decisions.
So why is it so essential to put time and investment into managing customer data effectively? It’s because the way you manage this data has a lot to do with the level of trust between you and your consumers, maintaining the reputation of your business and ultimately driving your brand forward.
Let’s talk about 5 tactics you can employ to manage your customer data more effectively!
1 - Ensure your customer data is secure
In today’s privacy-first marketing world, data security is an essential part of any customer data management strategy. Security breaches are no cheap endeavour - in fact, research shows us that one breach costs approximately $4.24M. So do your research when it comes to data management and ensure that any software you decide to invest in puts security as high on the priority list as you and your customers do!
2 - Transparency
You know what they say! Honest is the best policy, and it certainly applies in this scenario. Be honest about the type of data you are collecting from your consumers. Research on the topic proves that users are becoming more and more likely to impart their data on businesses if they believe it will improve their experience as a customer, but it’s important to them to know what it is they’re sharing. Collecting information like zero and first-party data is even better. This is the type that consumers knowingly and willingly share with you, rather than information sourced through third-party cookies (which are on their way out anyway!).
3 - Be Selective
A study by Forrester Research tells us that 60-73% of data collected by businesses go unused. Not only is this a huge waste of money and resources, but unused information does nothing to improve the experience of your customers!
Having a data collection strategy that lays out exactly what data points you need to move forward with your goals is vital here. Whether your aim is to increase sales, build a knowledge base about your audience or create effective remarketing campaigns, having a clear goal will help you be selective about what data you need and reduce the collection of unnecessary information with no use.
4 - Dangle a Carrot
As discussed in recent blog posts, consumers are much more likely to impart their data when there’s a chance to claim a reward. Whether it’s getting users to fill out a survey in exchange for a discount code or reviewing a product to go into the draw to win a prize, adding incentives to your data management strategy will mean maximising the bang for your reward investment buck.
5 - Take a Look at Your Existing Tech Stack
There are so many amazing tools on offer in today’s marketing landscape that can enhance your customer data management strategy. The key here is to take a look at your existing stack and see what platforms can work together to move your business towards its goals.
This is where Komo comes in!
Komo’s Part in Your Customer Data Management Strategy
Komo is a SaaS platform that allows you to easily create a digital destination (Engagement Hubs) filled with branded, interactive content, competitions, gamified experiences, and rich media, with proven templates in minutes. Komo technology can “live” anywhere, and no coding is required.
Collect rich zero and first-party data through the Komo Platform and transfer this information to your existing CRM, CDP and ESP platforms, including leading tech like Mailchimp, SalesForce, HubSpot, Campaign Monitor, emarketeer, Click Dimensions, Revinate, Ubivox, Merlin, Selligent and many more!
This data can be used to engage consumers anywhere, anytime. The Komo platform is used in stadiums and at live events, with big-screen integrations, and live data feeds through LED and IPTV screens. Used across a broadcast to connect with a consumer in the comfort of their own home. Easily take any traditional marketing campaign from "offline to "online" and increase the ROI or, promote a Komo Engagement Hub through your digital and social channels.