Delivering Experiences Consumers Will Love

The following is republished with the permission of the Association of National Advertisers. Find this and similar articles on ANA Newsstand.

By Dan Buckstaff

Marketers are in a bind. Consumers have high expectations for brand engagement, but few companies possess sufficient first-party data to deeply understand customers and meet their needs. What’s more, accessing broader amounts of customer data is increasingly difficult in a world where privacy is also a core part of the customer experience.

An emerging solution for brands comes from building a collective intelligence, created by securely connecting data from within their organizations, and collaborating with data from across customers, media platforms, and other data owners. This can now be done with privacy-preserving technology that keeps data secure and under continuous control while honoring the privacy expectations of the consumer.

By collaborating and connecting to a broad set of data, brands can build a strong data foundation to deliver insights and power delightful customer experiences.

A brand’s first-party data is an invaluable asset and serves as the core of a data foundation. However, few brands have sufficient first-party data for today’s requirements, and marketers are realizing that they can’t go it alone and be their own “data island.” Organizations simply don’t have enough data, or the right data, to connect all the various touchpoints in the consumer journey.

So what can a brand do to differentiate itself and deliver exceptional customer experiences? It starts with connecting data and getting it into an actionable state. Here are four capabilities marketing organizations need to develop insights and take action:

1. Access the Right Data

The right data needs to be connected and tied to the right person. Knowing that a brand can be precise in its engagement gives marketers the confidence to activate data to create the right experience at the right moment.
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If a brand can resolve more relevant data to a person, it can better understand that person’s needs and interests. For example, by understanding that a family may have kids who are ready for the next size of diapers or early teens who need orthodontics, marketers can better personalize the content for web visits, advertising, and email campaigns, as well as when and where that engagement should happen.

Often, the right data sits with the customer or another partner. Marketers should start to explore how they can form partnerships and collaborate with third-party data holders to create a win-win scenario.

2. Reach People Where They Are

People spend their days weaving in and out of channels on multiple devices, so marketers need to make sure they reach the right person across channels.

Third-party cookies can only take a strategy so far — and soon nowhere at all. That’s why maintaining and utilizing new, addressable channels across the entire advertising ecosystem is of the utmost importance.

One major entertainment company provides a good example of how to deliver seamless, personalized experiences to customers. This company works with its partners and across its own properties to mobilize data to make each customer’s journey personalized and delightful. For instance, if a person stays at one of its hotels, the guest may get a free night for being a return customer. If a visitor experiences one of the company’s themed resorts, they may be served a targeted promotion for a streaming service that carries programming based on the same theme.

Connected data powers each of these interactions. Reaching people wherever they are, whether online or in person — and regardless of where they are in the path to purchase — allows the brand to be nimble and enables a better relationship with its customers. This relies on breaking down silos within an organization and also connecting to data from external partners.

Marketers should think about what they genuinely have to offer that is meaningful to their potential customers and partners and then work with organizations to help innovate and raise the bar on customer experience.
 
3. Utilize the Tech Brands Already Have

Brands already have technology in place, but many solutions don’t always speak the same language. To achieve connectivity, they need interoperability between organizations’ internal systems and external partners.

The coronavirus pandemic has forced many brands to restructure how they serve their customers. It has been easy to distinguish the brands that have the ability to adapt their technology and pivot their businesses from those who are still playing catch up. Interoperability makes that task less cumbersome, and it avoids the costs of replacing technology and resources for getting up to speed.

Pandemic or not, consumers don’t care how it gets done. They just want to enjoy a seamless experience with little to no friction. The speed at which a brand can serve its customers with the experiences they expect will determine whether or not those customers seek out a competitor.

4. Explore Data Partnerships, Understand the Consumer Perspective

Brands are responsible for protecting customer data, so staying abreast of policy changes and regulations while also anticipating what’s to come is critical. It’s especially important that marketers understand the rules of data usage regarding partnerships.

Partnerships benefit the consumer experience but only if they maintain the privacy and security of the consumer’s data. For instance, if a customer is listening to a band on a music app, a ticket company’s partnership could make it easy for them to purchase merchandise and concert tickets directly through the app. Customers are much more likely to share their data when they know all parties are obligated to protect it.

The need for data connectivity and the infrastructure to make it actionable has only accelerated in the wake of the pandemic. However, no matter what external influences exist, creating seamless experiences and leveraging data can be part of a brand’s durable competitive advantage. It can set a business apart, build customer loyalty, and keep revenues healthy as the world adapts to future challenges.

About Author: Dan Buckstaff is the CMO at LiveRamp, a partner in the ANA Thought Leadership Program.