You’re a marketer, laser focused on understanding your customers, so that you can be a step ahead of them. You strive to engage your customers effectively, anticipate their future behavior, and develop campaigns that are both relevant to your customers and help you meet your objectives – at the same time. You want to have meaningful business discussions with your peers and product owners, influence decisions, and drive real impact. But here’s the problem: you have neither the time nor resources needed to efficiently accomplish this feat.
I find that we are at an inflection point, where many businesses are dealing with the unfulfilled promises of big data and analytics improving the dialogue between you and your customers and actions. The linkages between these are inconsistent, sometimes unreliable, and often make it hard to decipher what to do with the information you have. At the same time, the function of the CMO and their teams continues to gain strategic importance. The role of marketers is now in the spotlight – marketers find themselves at the intersection of data, analytics, CRM, and marketing. This is driving a demand for solutions that are focused on the business function, built-for-purpose, and promise to become part of the marketer’s “daily life.”
Being a step ahead of your customers means you have to harness the insights derived from all touch points, anticipate customer behavior across segments and campaigns, and then rapidly make impactful decisions based on the trusted data you’ve obtained.
Here are some of the challenges that limit us today:
Lack of self-sufficient access to analytics
Marketers often rely on data scientists to provide critical insights about customers. While this process allows you to obtain information you need, it will slow you down and may limit your independent exploration, leaving you to interpret advanced analytics. Your agility and decision-making power would benefit by being self-empowered to quickly obtain the insights required to identify the right target audience for every campaign. At the same time, your super-smart data scientist buddy could focus on the more complex problems specific to your business.
Perception versus reality when understanding the customer
Customer behavior is now influenced by so many factors that a single dimensional and isolated understanding leads to a “perception” of what you think might happen. To anticipate the customer’s intent, it is important to have an understanding of how behaviors can impact each other and – ultimately – our business performance. It is hard to target customers appropriately if you have limits to understanding and anticipating their behaviors, such as:
- Who is at a high risk of leaving, is projected to have a high lifetime value, or is very engaged with our brand?
- Are my most valuable customers also those who are most engaged?
- Do I understand why the group that complained twice and made a high-value purchase this past month is now at a high risk of leaving?
Targeting the right customers
Marketers tend to drive product or brand-led campaigns and push them out to customers grouped by crude and static segmentation variables. This tactic ignores the fact that customer behavior changes over time and across traditional segments. By utilizing insights into these behaviors, you can establish WHO to target with WHAT campaigns and WHEN; in complete sync with their recent and predicted behavior.
Make marketing insights part of your daily discipline
What would it mean for you to have access to a solution that enables you to meet each of the above challenges? A solution that offers a highly visual and interactive user experience, serves up the information you are looking for through pre-built customer analytics and computes data from multiple sources – all without requiring deep, technical expertise? Having listened to our clients, IBM Watson Marketing Insights was created for marketers, offering simple consumption of complex analytics and cognitive recommendations to drive prioritized interactions with your customers for prioritized action.
Watson Marketing Insights is a key component of IBM’s Watson Marketing offering. The act of bringing Watson to marketing will illuminate the opportunities that enable you to build your business through experiences that become an integral part of your customers’ lives. Watson’s exciting venture into the marketing profession supports your drive to grow your marketing expertise, improve your engagements with customers and achieve superior outcomes.
IBM Watson Marketing Insights: Cognitive audiences for the marketer
This solution allows you to observe ongoing customer engagement, giving you better control over acquisition, growth and retention initiatives. IBM Watson Marketing Insights offer:
- Analytics important to the marketer: Focused on what marketers care about most, Watson Marketing Insights comes with rich, pre-built analytics that help you uncover drivers of customer churn, lifetime value and future behavior. Insights are made accessible, surfaced through a visual, interactive interface.
- Dynamic targeted audiences: It recommends priority target audiences based on current behavioral drivers. These advanced cognitive insights enable you to create custom and meaningful segments for targeting. Customers constantly give you new signals, so the solution offers an automatic refresh for relevant audience membership
- Swift, seamless connections: Through integration with other solutions such as IBM Watson Campaign Automation or IBM Universal Behavior Exchange, you can export target audience lists in one click and take immediate action. For flexibility and scalability, this is a SaaS offering.
Learn more about how IBM Watson Marketing Insights presents cognitive insights to the marketer, helping to create precise target audiences, tying insights with actions and driving meaningful business outcomes. See what it can do for your business.
Source: THINK Marketing