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Nearly 50% of marketers agree that Data is the most underutilized asset in their organization. Marketers are trying harder to gather data. 80% of customer data will go unused. This lack of maturity is costly. ◦ Building brand awareness ◦ Increasing sales ◦ Creating customer loyalty
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Immature data won’t stop marketing from becoming more data-driven. Nearly 65% of marketers agree that silos within their marketing department prevent them from having a holistic view of their marketing campaigns. Move towards use of platforms that have integration capabilities built in.
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Big data is shifting the marketing department. 48% of CMOs felt they were prepared:
◦ Actively recruit analytics relent. ◦ Look for engagement platforms with marketer-friendly analytics.
To compete, the following are crucial: ◦ Data Discovery ◦ Developing Hypothesis ◦ Test and Learn Approaches
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CIO will continue to cede data control and budget to the CMO. 30% of marketing tech is bought by the marketing department. 50% of all tech purchases influenced by marketing. At this rate I.T. CMOS will spend more on I.T. than CIOS by 2017.
Big data will form the DNA of understanding customers. Understand how customers make emotionally based & deeply rooted purchase decisions. Data scientists will uncover the influences inside the brain.
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As consumer data access increases, so does the potential to switch brands. Only 18% of marketers say they have a single, integrated view of customer actions.
Location data’s importance is rising. Apple and PayPal are using Bluetooth low energy (BLE) – based location tracking systems: ◦ ◦ ◦ ◦
Allows hands-free payment or pre-payment for items. In store right-time engagement “at the moment of truth“. Identifying and treating the loyal. Learn how consumers buy.
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Big data will be refined as non-stored data will migrate to massive streams of data that are noted but never stored. 70% of marketers say they plan to implement a Big data analytics solution in the next two years. Loyalty is an overarching trend in marketing for 2014. 6 times more expensive to acquire new customers. A loyalty customer’s net present value vs. her second choice is 10x. Loyal customers are also emotionally attached to a brand.
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Marketing will take over most of customers relationship management. Traditional CRM systems haven’t been architected to manage the sources and amounts of data necessary for the new role of marketing. 64% of companies say they are not yet using data-driven marketing for personalized content. So, here Loyalty is of utmost importance.
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http://www.tips.affiliatevote.com/10-tips-for-marketers/