By Volker Wiewer, VP International (EMEA+APJ), Teradata Applications
From retail and telecommunications, to financial services and travel, success for brands today comes from being able to show the customer that they are understood.
For the telco sector perhaps more than any other, the pressure has been on brands to maintain pace with consumers’ desire to be connected, and ensure their product and service offerings are robust enough to meet customer needs.
Businesses are competing in an increasingly crowded marketplace, and need to differentiate themselves by providing an offering that the customer cannot live without.
To do this, they need a support system in place that enables them to maximise their marketing communications.
Essentially it all boils down to effective workflow and system management, but if an organisation is not set up to properly handle this in the right way, it can have crippling consequences.
This is particularly vital when a business is running multiple campaigns across multiple markets, at once.
If brands truly want to capitalise on these new opportunities and drive long-term success, they must invest in the marketing technology that will enable them to do so.
Additionally, with many businesses still operating with smaller workforces to keep costs down – a habit they were forced to adopt during the recession – a supportive technology backbone is critical to delivering effective marketing.
For telcos of any size, progress is only going to be made and results achieved when they have a complete view of the business to start with.
The multi-channel environment has made this crucial; brands looking to deliver targeted and relevant experiences to individual customers need to consider every aspect of the journey, across every part of the business.
Investment in technology, which breaks down silos and centralises data sets and operational activity, is key.
Through implementing the correct support system, businesses will be able to undertake continual evaluation around campaign performance, providing insight into what’s working and what isn’t.
For example, businesses that are running multiple campaigns at any one time and tracking the ROI on an on-going basis have the opportunity to ensure each campaign is as effective as possible and the best use of investment.
Additionally, continual tracking will allow brands a better indication of where spikes in activity may fall so they can be resourced accordingly to prevent important sales opportunities being lost.
Brands only have a narrow window of opportunity to make an impact on a customer.
If they fail to provide a relevant offer at the ‘moment of truth’, the customer is likely to be snapped up by a smart competitor.
Marketing technology, such as an integrated platform, will enable organisations to make quicker, more informed decisions that will allow interaction with the end consumer at the pivotal moment and therefore drive the crucial returns for the business.
There is huge value to be gained from the growth of customer channels and the data insights this is creating all the time, but like everything, the opportunities aren’t going to be maximised without the correct technological infrastructure.
With leaner work forces, the role of workflow and system management has become increasingly significant to streamline marketing activity and ensure the organisation isn’t impacted by having fewer staff.
Businesses must wake up to the reality that significant ROI isn’t going to be achieved until they evolve their systems to put customers back at the helm of their marketing activity and valuable data.