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CMOs who assess their digital performance and benchmark it against competitors are better prepared to optimize every channel.
Marketing departments are under pressure. The pandemic has wreaked havoc on businesses large and small, increasing the reliance on marketing to generate more leads and drive more revenue to make up for pandemic-induced shortfalls.
The COVID-19 pandemic has turned marketing models upside down, forcing brands to respond to rapidly changing customer behaviors and motivations.
Customer Data Platforms (CDPs) emerged to offer marketers a single, real-time view of their customers, but it’s taken a while for solutions to provide meaningful results.
The COVID-19 pandemic took everyone by surprise, but companies with well-developed data strategies have been more adaptable to changing consumer behaviors and the impact of lockdown restrictions. These nimble, data-driven companies are connecting with customers and communities in innovative ways, seizing new opportunities for creating meaningful experiences, staying profitable, and driving growth.
With brands squarely in recovery mode and a captive audience doing even more shopping online, cobbling together a unified profile is as urgent as ever. Cross device identification (XDID) connects a unified view to every available data point linked to the customer both on- and offline.
The majority of retail sales in the U.S. still occur in physical stores; but online shopping continues to grow. As a result of COVID-19, even more people are moving toward online shopping, seeking contactless shopping experiences. By 2023, eCommerce sales are expected to grow to 300 million online shoppers, or 91% of the U.S. population.
Marketers strive to understand customers by achieving single, unified profiles of them. When consumers began using multiple devices to engage with a brand, the goal became more challenging. Cross-device identification (XDID) changes everything.
Customer data platforms (CDPs) emerged to offer marketers the single, real-time customer view that they need. The excitement over them quickly created many new technologies and oversized expectations.
The CCPA has begun the congressional tightening of borders around personal data. While it requires data-driven businesses to adapt, it also favors precise strategic marketing. California’s new privacy legislation is driving how we’ll need to approach consumer data.
Privacy: It’s becoming a much bigger presence within business data in 2020 and will only increase. California has taken the lead for what will surely follow. Keeping current with legislation will help position data-driven businesses for compliance, adaptation and opportunity.