Marketers Must ‘Connect the Dots’ to Leverage Data Insights, Create Lasting Brand Value
Individualized Marketing means moving beyond personalization to true individualization and bona fide value exchange
In today’s highly competitive marketing applications arena, where literally thousands of software vendors promise marketers the ability to “personalize” their communications and “target” consumers, what has resulted instead are all-too-frequent and highly unwelcome intrusions into people’s digital and personal lives – an adversarial marketing practice that has got to stop.
Such is the view of Teradata Marketing Applications -- a division of Teradata Corp. (NYSE: TDC), the big data analytics and marketing applications company – whose CMO Lisa Arthur spoke to leading marketers at ONE: Teradata Marketing Festival 2015, the company’s 16th annual customer event being held this week in Las Vegas. In her keynote, “The Power of Individualized Marketing,” Arthur challenged marketers in this era of data-driven solutions to find and maintain the right balance between data use and abuse, between greed and common sense, and between what the company wants and what’s really preferred by the customer.
“Brands that exercise restraint and leverage individualized insights can truly know their customers based on first-hand experience as well as digital and social interactions, and this creates a tremendous competitive advantage,” Arthur said. “These brands are allied with their customers in trust-based, mutually meaningful interactions, a true one-to-one value exchange we call ‘Individualized Marketing.’”
However, in Teradata’s view, marketing is not individualized enough. Despite marketers’ good-faith efforts, what consumers too often experience are annoying or unwelcome interruptions that lead to a less than positive connection with a brand. The good news is, such annoyances can easily be eliminated if marketers master their use of customer insight.
“Right now, marketing is technology-dependent, out of balance and not ‘human’ enough. Some call it ‘personalization,’ but sadly and too often, marketers are losing sight of the actual person,” Arthur explained. “Personalization has turned into ‘insert name here’ and the same offer or communication for millions. What marketers need is an integrated marketing approach that enables them to capture the critical customer moments and connect the dots wherever information lies to create a clearer picture of the individual.”
Fortunately, the emergence of sophisticated digital marketing and analytic technology capabilities like the Teradata Integrated Marketing Cloud make it possible to leverage customer data from all available sources to power marketing insights and drive more relevant interactions, resulting in better brand experiences and more effective marketing outcomes.
Teradata Integrated Marketing Cloud is an open, cloud-based platform that provides companies throughout the globe with the individualized insights they need to achieve true, ongoing value exchange with their customers. Teradata’s offering integrates solutions for Marketing Resource Management, Omni-channel Marketing, Digital Marketing and Analytics, plus this week the company unveiled a new integration between Teradata Digital Marketing Center and Facebook Custom Audiences, the latest example of its Individualized Marketing capabilities.
“As Teradata empowers businesses to evolve from hindsight to insight to foresight, marketers will know increasingly more about what their individual customers really want,” Arthur said. “Yet sophisticated technology has to be accompanied by sophisticated restraint. The key to Individualized Marketing is to use what we know only in ways that demonstrate respect, generate increasing trust, and create ever-increasing value. Because no matter how much data you have nor how much marketing technology you buy, it’s still your company’s human touch -- your brand’s unique ‘way’ of doing business -- that’s going to have the most enduring, most profitable impact.”
Teradata (NYSE: TDC) helps companies get more value from data than any other company. Teradata’s leading portfolio of big data analytic solutions, integrated marketing applications, and services can help organizations gain a sustainable competitive advantage with data. Visit teradata.com.
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