Customer data is the reigning competitive differentiator of market success, yet according to a study released last week by Forbes Insights – executives still aren’t taking full advantage. Many companies are still stuck in 20th-century methods, processes and technology – and it’s these companies struggling to adopt who are finding their customer bases eager to purchase from data-savvy competitors who offer more personalized brand experiences.

Marketers were divided into two categories:

  • Leaders (13% of respondents): companies who have fully embraced customer data analytics for actionable marketing insights
  • Laggards (87% of respondents): companies looking for ways to either begin to leverage or better leverage their customer data

Given the resources and technology available today, it’s unfortunate (though not surprising) that only 13 percent of companies are leveraging customer data to the fullest extent. This disparity results in real revenue differences, with leaders posting significantly higher returns (26 percent) than those identified as laggards (8 percent).

In order for organizations to better understand their customers — and have a fighting chance to compete with the industry behemoths — companies need to dive deep in the customer data from all sources. Rob Glickman

Chief Marketing Officer, Treasure Data

So, what does it take to become a customer data-driven organization?

For many companies struggling to keep up with the speed of data, daunted by the thought of expensive databases and in-house analytics teams, – partnering with a tech-enabled marketing service provider is an excellent option.

Marketing service providers like Target Data eliminate the need for costly, custom in-house databases by loading your customer data onto a secure online platform where it can be easily analyzed for actionable marketing insights and dashboard visualization. Then, a team of dedicated data analysts and strategists partner with you to educate and empower your existing teams to make informed marketing decisions based on data insights.
Target Data provides a turn-key solution that takes your company from data analysis to campaign execution in as little as 30 days.

Are you ready to become a disruptive leader in your market?