Driving Real-Time Multichannel Segmentation
A recent Relevancy Group survey of 300 marketing executives found that marketers who are using real-time data for multichannel segmentation are delivering more than $3 million dollars in revenue per month vs. the non-real-time marketers who delivered $1.1 million dollars in revenue for the same time period. Results also revealed that marketers who used automated customer lifecycles delivered 133 percent more revenue than those marketers who did not.
Real-time multichannel segmentation combined with automated lifecycle communications, orchestrated with direct mail, social, survey and mobile channels reduces guest attrition, improves guest repeat ratios and manages communication fatigue.
Three key elements for driving successful real-time multichannel segmentation include integration, automation and measurement. Marketers who carry out these steps in phases can ensure that specific goals are met and that organizations are not attempting to take on too many items at once.
Integrate — Foundation for Precision
1. Ensure Data is Actionable – Just 38 percent of marketers’ state that they maintain a centralized repository for their client data, signaling that data is obscured by – and scattered within – multiple data silos, according to the research. Before marketers can begin to advance their precision and relevancy, it is imperative to organize data through integration.
2. Utilize the Latest Open APIs to Access Big Data – Marketers can work with application-specific APIs, as well as utilize the latest Open JSON. Marketers must also ensure that they can use new types of “Big Data,” including location, device ID and unstructured customer sentiment, including product reviews, etc.
3. Establish a Multichannel CRM Data Schema – Marketers can begin to develop their own schema that allows for data across channels. Precision marketing requires a pCRM data schema that addresses the customers or prospects in their journeys across channels. Marketers must have the flexibility to integrate data from a variety of sources, but also organize the data in a way that is valuable to all business stakeholders.