How can a data-first marketing cloud increase customer lifetime value and generate revenue streams?
In a video published on Business Reporter, Philip Raby, General Manager UK, mediarithmics explains how the deluge of customer data that the proliferation of customer touchpoints resulted in can be harnessed to better target advertising campaigns and generate revenue streams.
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Behavioural, transactional and campaign data can’t be fully exploited by advertisers, retailers or content publishers while data sits siloed in disparate software. Therefore, a data-first marketing cloud with CDP and DMP capabilities is instrumental for the laser-sharp targeting of specific audience segments, as well as for orchestrating highly personalised, multi-channel campaigns.
Personalisation, however, is only one of the abundant use cases that customer data analytics offer. By gaining deep insights into customer behaviour and preferences, acquisition and retention rates can be also enhanced significantly. With a 360-degree customer view, clients’ engagement with, for example, marketing campaigns and their procession through the purchasing funnel can be monitored closely and the retailer’s or publisher’s services can be tweaked accordingly.
Clients of mediarithmics can not only streamline their operation and sharpen their advertising campaigns but also generate new revenue streams with the customer data they have captured. Brands are often cut off from their customer data when they sell their products in retail outlets and will be able to make more informed decisions once they have access to it through supermarkets and retailers they are partnering with.
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