Leveraging data can help brands create relevant experiences for their target audiences, which can help improve profitability.
As retaining existing customers is cheaper than acquiring new ones, businesses must analyse data to understand their prospects’ motivational factors accordingly. Understanding customer pain points and motivations can help marketers enhance their loyalty programs.
Marketers must analyse consumer insights to find out what value customers are seeking from the brand. While some customers pay for a particular service they need, others purchase the full package. Using data can help marketers segment such customers, and create targeted, personalised and relevant messaging for each one of them.
Customer data can help marketers gather granular insights about their target audience, enhancing personalisation and profitability. As consumer insights are among the most critical resources of a company, businesses should use AI to manage data and keep them safe.
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