The pillars of data-driven sales and marketing
Every single customer intelligence exercise serves to accomplish one of three main goals:
- Attracting new customers
- Securing the next buys of existing customers
- Growing the lifetime value of loyal customers
Before diving into any AI-driven sales and marketing project, your business requires a mindset shift. Data insights must naturally be the source of all sales and marketing activities, and real, observable customer needs must form the core of every single campaign. It’s vital to lay strong foundations for intelligent sales & marketing processes.
For data-mature companies, a customer data platform (CDP) is an invaluable asset in automating the process of gaining customer insights and scaling the use of personalization and recommendations based on 360-degree customer views.
Attract new customers
These approaches require the least amount of data, and involve the analysis of behavioral data from existing customers. This makes it possible to identify the most profitable new customer bases, understand their needs, and develop strategies to attract them.
Securing next buys
Attracting a customer once offers short-term results, but the real value lies in keeping customers loyal to your business, purchase after purchase. Segmentation is an example of a customer intelligence exercise that illuminates purchasing triggers, ideal moments of approach and favored customer channels, for laser-focused marketing campaigns.
Growing the long-term value of customer relationships
These exercises are among the most complex, and require a high degree of data and organizational maturity. They include the development of predictive data models that accurately forecast the returns on marketing campaigns, for optimized sales & marketing budget spend – before any resources are invested.