Enabling a customer-centric approach to marketing in an organization is more than turning “big data” into customer insights. In fact, a deep understanding of customers and customer segments is only the foundation. To deliver customer-centric marketing, marketers must have the ability to rapidly and continuously test and experiment with new marketing tactics based on these insights.
Here are the four components required for an organization to implement and execute customer-centric marketing campaigns:
Aggregating data: Aggregate data from disparate sources to provide a unified view of each customer, and enable data analysis.
Generating customer insights: Leverage predictive analytics and behavioral segmentation to derive deep insights about individuals and customer segments.
Making insights accessible: Make those insights accessible to the entire marketing team via an intuitive interface, and make the insights accessible to any other tool (marketing, website, customer service) via an API.
Experiment and optimize for the right KPIs: Experiment with various marketing tactics across each customer segment, and optimize critical customer-centric Key Performance Indicators.
This process is not a one time exercise: Market environment, competition, and customers are all constantly adapting. Being customer-centric means keeping pace with customers, and testing new trends, topics, and segments to improve on Key Performance Indicators such as Customer Lifetime Value. Doing this well requires a process that encompasses data analysis and execution, a process that is iterative and never stops.
To help with your self-reflection, you can try The customer-centric marketing Quiz: 10 questions to ask yourself to find out if you’re a customer-centric marketer.