Benefits and Challenges of using Customer Data for Marketing

 Benefits and Challenges of using Customer Data for Marketing




There are both many positives and negatives for companies using customer data 

for marketing purposes and in this article I will discuss these.


Benefits:

Customer Segmentation - by collecting customer data, we can narrow this data down

and categorise it. This enables us to be able to personalise marketing campaigns to specific

audiences.


Improved Customer Retention - by having specific and detailed customer data stored, this can

be easily accessed. This allows companies to deal with customer complaints quickly and 

efficiently to prevent these issues becoming bigger problems leading to unhappy customers.


Better Anticipation of Needs - customer data can be used to predict what they are most 

likely to purchase, based on their past behaviours and purchases, improving the sales process.


Maximising Marketing Campaign Results - by using data-driven decisions, marketing campaigns 

are much more likely to yield results


Challenges:

Data Protection - consumers in todays world are becoming more protective and wary of who

they share their data with. They may not be happy to share their data with you unless they 

have trust in your company.


Ensuring Compliance with Regulations - marketers face a lot of challenges when it comes to

ensuring they are compliant with all relevant laws relating to data retention. It can be a time consuming

and costly process if legal teams are needed to ensure this compliance.


Maintaining Accountability with Customers - There can be many consequences if data is used incorrectly.

Customers should always be aware that their data is being collected, and they should know why

it is being collected too. If companies do not use this data in an accountable matter, is may lead

to dissatisfied customers along with many other issues.


Orna


References:

https://www.aberdeen.com/cmo-essentials/good-bad-ugly-using-customer-data-for-marketing/

https://www.zendesk.co.uk/blog/benefits-challenges-crm-marketing/


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