Adopting an enterprise view enables marketers to anticipate their customers’ next move.
This article states that brands need an “enterprise view” as against a siloed approach to customer data. The author emphasises the need for “digital democratisation” which breaks down the data silos, making data universally accessible.
CMOs need a unified view of the data for monetising it. By tapping into this data across the enterprise, they can boost customer engagement, reduce churn and improve profitability, while aligning customer values and personalising experience for every touchpoint. Refinitiv’s Richard George says that marketers should have a digital-first mindset to prevent a customer’s interaction with a brand turning into a fragmented experience.
Organisations must have an integrated approach towards data and analytics to develop “enterprise-wide intelligence”. CMOs should partner with CIOs to realise the value of data democratisation.
[5 minute read]