Make no mistake: the data revolution is upon us and has, perhaps, affected no industry more than the wonderful world of marketing. Your average marketer now has access to huge volumes of information about who their customers are, how they’re behaving, what their thoughts are on certain issues and more – all of which can quickly prove overwhelming. It’s important to look at the big data phenomenon for what it is, however: an opportunity. It’s a very real chance that marketers have to realign their efforts and create the type of powerful customer experience that creates a loyal army of brand advocates.
Broadening Your Customer Personas
Customer personas have long been a tool marketers have used when trying to relate to their target audience. These fictionalized, typically generalized versions of theoretical people can be a great way to help the designers of a campaign keep their “eyes on the prize,” so to speak. After all, if you’re setting out on a road trip across the country, it can be helpful to know exactly where you’re going before you back out of the driveway.
However, the huge influx of data that marketers now have access to is a terrific way to deepen these customer personas more than ever before. You no longer just have things like age, gender, employment status or income level to work with. You can now draw from not only what has influenced past purchasing decisions, but WHO. You have volumes of analytical data pertaining to lifestyle, interests, and behavioral patterns. You can even draw valuable information from how a person might respond emotionally to a certain event in their life.
All of this means that an already powerful tool, customer personas, can now be put to even more meaningful use in the future. These personas are no longer generalized at all, which is very much a good thing for marketers everywhere.
Redefining the “High Value” Customer
Another great way to use customer data to create a more powerful customer experience is to reassess your “best” or “highest value” customers through the lens of this new data you’re working from. You’ve always been able to call up data like average purchase size, lifetime value, and acquisition costs pretty easily, but now you can go deeper. You can get a real sense of how satisfied your customers are with your products or services and look at how that information may affect what you need to do for your customers in order to get them to remain loyal.
You can also see whether or not the people you’re actually targeting with your marketing materials are the ones who are actually spending money on what you have to offer. If there is a discrepancy there, who ARE your buyers? Is this a problem, or is this a happy accident? What does this new information say about decisions that you were previously making on assumptions? This is all incredibly valuable information to have moving forward.
At the end of the day, the huge volumes of customer data that marketers now have access to is absolutely NOT a burden. We live in an age where it’s now easier than ever to glean the type of valuable, actionable insight that you can use to make more effective, strategic decisions. All of this allows you to drive home the most important benefit of all: creating a much more powerful, organic, and deeply rooted customer experience than what was possible even five short years ago.