Gartner Marketing Symposium 2021: How ‘Data Gravity’ Helps Brands Draw Customers
Smart marketers are always wondering how to attract new customers. And once you’ve attracted them, how do you pull customers closer to your brand? Data science, of course, isn’t physics. But in the business universe, the way you use customer data has the power to attract and hold customers, just as objects move toward each other through the force of gravity.
Some companies use customer data far more effectively than their competitors, becoming a force of nature when it comes to creating personalized customer experiences around a brand that captures and keeps customer loyalty. At the recent 2021 Gartner Marketing Symposium, I gave a talk on how to leverage this “data gravity” to increase marketing ROI and drive results that extend far beyond the marketing department’s orbit, so I thought I’d share a summary of that session with our Treasure Data blog readers.
How Data Gravity Gives Your Marketing ‘Pull’
The combination of customer data and machine learning is what makes personalized customer experience work. Each customer wants to feel like your only customer. But every customer is different. How can you give each customer the right touches at the precise moments so they’d be perceived as helpful rather than just annoying “marketing junk”?
This is where customer data platforms (CDPs) come in. Treasure Data Enterprise CDP, for example, can unify data from many different sources into one unique profile for each customer. Typically, first-party data—provided by your customers or prospects in their interactions with you—is the start. Then that data is enriched with second-party data, from your partners, or even third-party data, from other sources, to get a very complete, accurate single customer view (SCV).
This holistic single customer view is the core of your customer data foundation. To truly gain data gravity, you not only need to unify a high volume of data but also use smart algorithms to analyze that data, gain actionable insights, and activate better decisions across channels. These insights are what enable brands to deliver intentional, omnichannel engagements to their customers, each with their own personalized customer journeys.
Who’s Using Data Gravity to Achieve Escape Velocity in Marketing Programs
This approach is so powerful that one of the world’s largest CPG companies, Anheuser Busch InBev, is using its huge collection of customer data to better understand its customers—and to cultivate new, direct-to-consumer (DTC) business. Eventually, the company wants to use the real-time capabilities of its CDP to further develop both its e-commerce and in-store business.
Already, data has become the center of gravity at AB InBev, which uses its CDP to integrate data from more than 1,000 different sources to understand the behaviors and buying signals from more than 70 million customers in more than 40 countries—all in a single, privacy-compliant platform. As Luiz Gama, Head of the Center for Excellence in Marketing Technology for AB InBev puts it, “Treasure Data is our center of marketing. It’s our key to how we’ll live in a cookieless world, in an even more digital environment, and still connect with our consumers.”
Other companies across the globe have used the Treasure Data CDP to help them deliver outstanding customer experiences, achieve operational efficiency, and realize millions of dollars in value. You can see their stories in the video below.
How ‘Data Gravity’ Boosts ROI and Results Beyond Marketing
Customer data is so central to success now that CDPs—and the insights they generate—are being used in departments far beyond marketing. For example, at Subaru, once the company understood that most of its owners were dog lovers, this observation started to inform product design. Easier-to-access rear seats and features that made it easier to use a pet carrier were the result. At clothing retailer Stripe International, a CDP was used to help speed up product reorder by predicting selling trends at each store location and shipping merchandise tailored to those locations’ needs. Supply chains, in other words, can also use “data gravity” to improve results.
The bottom line is that many departments can benefit from the “slingshot effect” of their CDP use and the data gravity originating from marketing, to accelerate digital transformation and the strategic use of data throughout their organizations. CDPs help these companies use their data gravity to achieve takeoff velocity—on all fronts.
Learn how to use your own “data gravity” to accelerate growth and build momentum. Watch my Gartner talk here or visit treasuredata.com.