ValueFirst, a Twillio company, has launched ‘The Biztech Show’, a show focusing on technology, marketing and leadership. In the first episode on 16 December 2021, Vijayant Dhakha, Senior Vice President, ValueFirst, highlighted the importance of data and its role in precision marketing.
The show will invite marketers & business leaders to speak about changing consumer behaviors, customer engagement, technology & how it is changing the landscape of businesses today. From the way we communicate, the channels we use, and how it has helped businesses with a variety of customer-centric solutions.
According to a recent Mckinsey report, the retail sector experienced a decade’s worth of growth in terms of digital penetration in a matter of months. However, the resulting surge in data has not provided marketers with a good enough understanding of their customers. The data modeling systems aren’t equipped to manage this change, and hence unable to capture these shifts with the necessary granularity and speed.
To address this gap, Vijayant suggests that marketers should work more aggressively in learning their consumers & their lifecycle with the brand. Organisations should invest in advanced tech & evolve their data models to make sure they capture key moments.
Another opportunity which brands miss - is providing precise & personalized experiences to their customers & end up losing an additional revenue potential.
Vijayant suggested that use of consumer information should be hyper customized & should be in line with each stage of the consumer lifecycle. It should appeal to consumers in a meaningful way.
He added that to measure all this, it has to be backed with the right marketing metrics as well like cost per acquisition, customer lifetime Value.
Connect with Vijayant: https://bit.ly/3pdDvub