Big brands are trying to deliver the most personalized experiences possible. There is so much data available to marketers these days that it is difficult to know exactly how to use that data in a way that benefits both the brand and its customers. Why is that? According to Gartner , enterprise brands are not leveraging the full potential of their existing customer data and do not have a robust foundation for it.
In fact, Gartner reports that 63% of digital marketing leaders still struggle with personalization, and 58% say they lack a robust customer database.
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But it’s not just a lack of data. Problems can also arise when brands romania phone number library invest in solutions that are too complex for their internal teams. According to the same study, 23% of digital marketing leaders say they’re investing in a lot of tech solutions but simply can’t use their features, and 21% say the complexity of their current marketing tech stack prevents them from using it to its full potential.
How might such issues impact business?
Your customer database is broken and it's impacting the experiences you can and can't create.
Enterprise brands using multi-touch solutions create an unstable and inflexible technology environment. Marketers and technologists are forced to combine multiple solutions, increasing the complexity of their processes and reducing the likelihood of creating a holistic customer journey. The result is a cluster of different technologies, built in-house or connected through acquisition, that are loosely connected to each other and create huge overhead costs to maintain and use.
Without a unified customer platform with a CDP at its center, your ability to meet your customers' demands and create the experiences they desire will be lacking.
Current marketing technologies do not meet your business requirements
Complex solutions and legacy technologies are expensive and require additional work, making it unlikely that you will see a fruitful return on investment. They are difficult for internal teams to use and take months of implementation to get up and running.
Often, these systems have limited storage and computing power, and are expensive to maintain and configure. Given the difficulty of integrating point solutions that don’t connect to key system components, it’s no wonder that marketing leaders still say they struggle to scale personalization.
It shows in the numbers. According to Forrester research , only 10% of CDP owners today believe their CDP meets all of their needs, and only 1% believe their CDP meets future needs, too.