It is seen recently that the marketing automation has stolen the show and is currently the new whale oil.
A marketing automation solution is known to be the most critical enabler of the crucial customer insights. That fuel delightful customer experiences and then define a brand.
Data Grants Power
Marketers must remember that the data in itself is not powerful but data grants power to those people who can understand it. And help to deploy their learning effectively.
Eons ago, the whale oil was the most valued commodity in the whole world. From the street lighting to the sea-faring vessels, it was a source that powered the world in the 18th century. Soon after, the crude took over. Oil was nicknamed it is referred to as the black gold as the world runs on it, quite literally. But now, the it is visible that the status quo has changed. Data is now indeed the new oil, it is the new most valuable commodity of the world.
Data has now taken over everything as the world has now gone online. Armed with the smartphones and the cheap mobile data. The modern-day consumer are equipped and has a solid willingness to experience digital solutions for their various needs. Take the E-Commerce, for example. By the year 2025, India will have about 99 billion$ e-commerce market, that will be growing at 27% YoY.
But, of course, the pandemic has really sped up the digital transformation timelines and tremendously. And now the consumers are increasingly demanding more of an online solutions that deliver value safely. With minimal human interaction. As a result, the India’s E-Commerce order volumes has increased by 36% in Q4 of 2020. In addition to that, the personal care category alone increasingly grew by 95%!
India poses a very unique challenge for the consumer brands. As the market continues to mature, the customers also become more discerning. Actively seeking the one-to-one experiences from brands that they have come to love based on the values the brands offers and past experiences.
A New Era Has Began
The solution of all this lies in the creating of a robust digital experience. That can extracts insights from the personal & behavioral data to power a hyper-personalized engagement strategy. Just imagine a system that is working across multiple digital touchpoints. Noting every of the digital and the offline interaction, updating the customer profile in the backend, and also building a very unique, more powerful perspective. For the marketing teams for them to take the correct next step.
Brands are now looking at their customers all from a renewed perspective. Which involves them analyzing their entire lifecycle and tailoring their communication according to their current stage. And there is one central element that is powering this strategy — the customer data.