With the increasing martech platforms, Intelligent Marketing plays a crucial role. And, CI is one of the first steps to efficient CX. So, how to mingle them both?
Can you picture Marketing without AI? It’s next to impossible now. The reason is the change of approach in a marketer’s decision-making. An integrated suite or a “best of breed” software? Marketers have to get the best according to their organization’s needs. CMS, CRM, or Marketing Automation Platform software are some of the integrated suites that prove to be essential in a marketer’s kitty.
But how is intelligent marketing related to any of these? If we were to break down the term “Intelligent Marketing”, it would simply mean intelligently embracing technology. An approach for automating customer interactions and marketing-related processes.
Customer intelligence is an approach to gathering and analyzing large amounts of data for businesses to determine the most efficient ways to interface and interact with their customers. At the base of all these marketing efforts lie customer service and customer experience.
And so, the marketing approaches are evolving with new metrics like CLV(Customer lifetime value) and new legalities like GDPR and CCPA that lay the ground for customer engagement. Let’s explore more into it:
Data-driven decision-making is at the heart of intelligent marketing. When we think of customer intelligence, it’s providing the customers with what they want. With customer analytics, there is abundant and sorted data. So, organizations have an upper hand to improve customer service.
Customer needs are not generic anymore. Personalization is drastically changing customer experience. By prioritizing personalization with data insights and AI, the organization will have an informed experience delivery, as well as a modernized applications strategy.
Instead of arranging the data around channels, it is supposed to be around customers. Organizations can only make it through the digital transformation when the main focus is on customers around a specific channel. It will need next-generation visionaries with innovative approaches towards new technologies. Understanding and developing critical customer-centric KPIs help a long way in making marketing strategies a huge success.
Utilizing Market Intelligence
Market intelligence is data collected by an organization to gain a complete understanding of the market including the competitors, potential customers, challenges, and opportunities. The base research creates a narrative that can make or break a marketing strategy.
Once the data is collected, deciphering it is a critical step. By using the data insights, you can either maintain your position in the market or leverage the necessary elements to go ahead of the competition. In any way, market intelligence is a holistic approach for boosting your efficiency while customer retention and strategizing successful marketing campaigns.
Customer Intelligence techniques
Customer data is collected by surveys, forms, infographics, focus groups, and social media platforms. Interactive content creation is a tool to get customer touchpoints. It gives profound insights into customers’ data like the geographic location, likes and dislikes, purchase history, and everything related to how and where they spend their time.
There are three steps to build customer intelligence data:
- Put your eggs in the right basket–
When deciding to hone in one specific tactic or whether to spread yourself out there, there’s a way to go about it. Think big but start small. Invest in the kind of technology-specific to your company’s goals and strategies.
- Collect and Arrange– You will need to collect demographic, psychographic, transactional, and behavioral customer data. Customer understanding through these data points can enhance your CLV and service/product lifecycle.
- Evaluate and recommend– By setting metrics to the data, you will be able to deduct the fluff and focus on what matters to your business. The market and customer needs keep evolving. So, it’s better to analyze the data time and again to be updated.
Though there are discrepancies in strategizing campaigns due to new privacy and security regulations, it doesn’t mean that organizations have to fill in the gaps in research with guesswork.
Customer Intelligence is an asset to marketers. Customer data platforms, machine learning, and the inclusion of AI are a priority to change a brand’s position. There has to be an effort in understanding and implement customer intelligence tools to aid marketing decisions.
Intelligent marketing is not limited to storytelling and lead generation anymore. It is about guiding the customer throughout the process. At every level of marketing, AI can indulge with maturity making the tasks easier and more efficient. With switching trends, marketing automation helps businesses adapt to fast-paced markets – lending time to creativity to flow in. And that is why you will need customer intelligence to have a better hold of the market.