As we near the end of October, it’s time to embrace the spirit of Halloween and take a trick out of the book of customer centricity. Marketers need to ensure they are not causing a nightmare for consumers, by bombarding them with unwanted junk mail, but instead delivering ‘treats’ to their inbox.

The problem for modern marketers is that customers have off-the-charts choice in almost every market niche. Therefore, the moment they feel they’re being taken for granted, or bombarded with unwanted messages, they’ll move on to a better alternative. So how can marketers ensure they don’t ‘spook’ customers away? Firstly, marketers can ensure they are effectively managing and utilising the businesses’ datasets.

Wading through vast amounts of data can often be frightful. When equipped with the right tools, marketers can bring the importance of data to the fore, and can conjure otherworldly knowledge about their customers and prospects, which can make data integral to decision making. In order to make sense of the macabre amount of data that many businesses are often faced with, marketers can begin by asking the following questions:

My business has a hair-raising amount of data; do I need to examine it all?

Firstly, ask yourself, what is the problem that needs solving? Businesses have huge volumes of data, so rather than getting lost in the myriad, focus on the most relevant segments.

How can I ensure the data can be ‘dug up’ by everyone?

One of the key principles in any business is to make sure that the right data is available to the right person, helping them to make the right decision. To do this, marketers must ensure the data is continuously updated and located in a central position, at the heart of the business.

There is a blood-curdling amount of data sources available – how do I choose the best source of data for my business?

First of all, consider where the data comes from. Does the external company own it or has the company sourced it? If the latter, can the company prove it holds the right permissions for you to use the data? Knowing the answer to this question is crucial, as you will be liable for any mis-use of the data, even if it is the fault of the data supplier.

How do I avoid the Grim-reaper and find a suitable data supplier?

In deciding what data supplier to work with, there are a few key considerations. Does the supplier answer your questions satisfactorily? As well as ensuring you understand the source of the data and the permissions associated with it, you need to ask the supplier how easy it can be for your company to get access to the data. Also, is it possible to test the data before you commit?

How should my business prepare for the impending “Apocalypse”?

One thing for sure is that our industry is changing, as the looming legislation of the new EU data regulations is akin to the abominable snowman; nobody knows exactly what it will look like, but it’s certainly coming. Marketers need to ensure they are not hiding in the cupboard; you need to get your defences ready by making sure you understand, and are sure of the new rules surrounding data permissions. These final details from Europe are not yet set in stone, but you must ensure you understand the risks and mitigate them appropriately. Ultimately, you must ensure your company can demonstrate compliance.

Amidst the light heartedness, there are some serious challenges for marketers discussed here. But don’t get spooked! Smart marketers understand that customer acquisition and retention is instrumental to business growth. So this Halloween, keep this in mind, and don’t preach to the graveyard, instead, summon the spirit of each individual, by mining the company’s data resources efficiently, and effectively. Businesses that fail to utilise data in this way will be left in the graveyard, as customers pledge their allegiances to the smarter marketers. Those who understand who their customers and prospects really are, and most importantly, how they prefer to be communicated with.

 

By Jon Cano Lopez, Chief Executive of REaD Group. 

 

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