There’s one marketing problem that plagues us all — the abandoned shopping cart. Is the best approach to closing a sale to send out an email offering a 30 percent discount to that customer or is there a better, savvier option? Perhaps engaging on another channel altogether?
If your company is still taking a line-item approach to its data management, the answer can be hard to quantify. The good news is that you are not alone in the marketing data confusion.
A 2017 survey by the CMO Council reveals that while 42 percent of marketers’ top priority this year is turning standalone campaigns into comprehensive customer experiences, only 5 percent feel their technology investments are up to the challenge.
At a recent event co-hosted by Teradata and the University of Pennsylvania Wharton Customer Analytics Initiative, speakers parsed through the disparate data points that drive enterprise marketers and their digital channel-focused counterparts. The answer, they found is bringing those disparate activities together in a customer hub.
Instead of staying the course, marketing professionals can reinvigorate their efforts by calibrating enterprise data with embedded digital channels, honing in on customer interaction throughout the entire buying cycle. By taking a data-driven approach, marketers can deliver a compelling customer experience, but to deliver on this goal, marketers need to ask themselves a few key questions.
Are You Still Tagging Your Website to Track Data?
In 2012, Google implemented website tagging — a way of pinning metadata from each page of a site to search engine results — and the practice is still going strong five years later. It has allowed companies to grow the approach into a full-on web analytics strategy. But, despite its merits, it’s not enough to inform customer-journey marketing.
Website data doesn’t provide the whole picture of how a buyer is behaving. Let’s get back to that shopping cart question. What if that particular buyer uses a shopping cart to pre-shop before buying in-person? What if they typically abandon their cart just to come back two weeks later when it’s payday? Website tagging (and tracking) alone will never give you insight into these more-profitable options, but a holistic view of customer-level data can. Companies need to get their data out of silos, so marketers can analyze the entire buying picture.