Behold, the data whisperer: Why brands need to dig deeper into their data to enhance customer loyalty
As Andrew Condron, director of insights and analytics at Gravitas, explains, it’s a data-driven world – we’re just living in it.
Companies worldwide are now hungry for data to better grasp every facet of their business. From IT and finance, to HR and marketing, there’s a clear understanding across the board that collecting and analysing data is critical to driving growth, audience efficiency and market share – and identifying pain points.
Businesses are acutely aware that to elevate, they need to leverage insights and analytics to make strategic decisions and gain better ROI. Gone are the days of companies simply using data reactively. Now, smart brands are harnessing their data to better understand their customers and create strategies that anticipate customer needs. Additionally, they’re sharing data sets company-wide – they understand knowledge is power, and there’s utility in giving frontline staff access to insights to help make informed decisions in real-time.
Changes to the way brands use their data couldn’t come at a better time. Reforms to the nation’s consumer privacy regulations are looming, which will make it more difficult for businesses to collect and store private information. Given the impending changes, businesses will need to deploy their data more strategically and in a privacy-safe and trusted manner to optimise their current customer base and reach new audiences.
