Data Management: The Foundation for Building Enduring Consumer Relationships
The circumstances during the past 13 months have forced all of us to learn to adjust to a new situation; to make changes on the fly, rather than dealing with what we expected or what we’ve been used to. While this has certainly been a unique challenge, I’m reminded that the process of adjusting to a new situation is exactly what Selligent tries to accomplish for our clients with our technology. Through our platform, marketers collect data, understand it, and then react to the varying circumstances an individual is dealing with in the moment. Marketers are then able to deliver the right interaction and response for that specific instant and for each specific individual. As a company, that’s our mission: to build products that help make marketing personal and deliver real-time relevance.
Marketing Tech: Limits or Possibilities?
Over the years, I’ve talked with a lot clients at many different organizations. One thing I often hear is that marketing decisions are being made not based on what’s needed for their business, but on what they’re able to do within the limitations of their technology.
If you really want to connect with an individual, it needs to be about that person and his or her individual moment. This requires technology that allows for real-time decisioning, based on real-time events and signals. You need to be able to fine-tune your communications based on historical interactions, and continuously test and optimize. And all of this at scale.
That’s asking a lot of your marketing technology. But that’s precisely where we continue to drive Selligent Marketing Cloud. Our vision has been consistent: to enable marketers to build enduring relationships with consumers, through timely, relevant experiences. And while this vision hasn’t changed, modern consumers have.
Remaining relevant has become more and more complex. We want our technology to be driven by the realities of the market, and today that means more engagement than ever before, more data than ever before, and different behavioral patterns than we’ve ever seen; completely new consumer profiles.
Our goal is to continue to build upon Selligent Marketing Cloud as the foundation of our clients’ marketing stack, allowing them to easily manage every aspect of these durable relationships with their consumers. Realizing this vision depends on four distinct characteristics:
- The ability to manage massive amounts of data and, very importantly, make sure that the data is easily actionable.
- The ability to ensure individualized communications that are highly tailored and extremely relevant.
- The precise timing of communications, delivered on the optimal channel for each individual consumer based upon his or her present circumstance.
- And finally, the need for not only accurate analytics, but proactive insights that highlight anomalies and opportunities.
I’d like to dive into each of these areas. It’s a lot to digest in one reading, so we’ll cover these four key areas over the course of a few blog posts. Let’s start by going deeper into the first characteristic:
Data Management: The Foundation
Today, the average global company manages over 150 TB of data. Within just two years, this number will easily double. Based on many conversations with other CIOs and CTOs, it has unfortunately become clear that over half of this data will go unused. That’s because of poor quality, or the inability to properly format it for the applications that could leverage this valuable data.
Selligent relies on a robust, flexible data processing architecture that helps you capture behaviors, interests, transactions, preferences, and any other desired data from many independent sources. Every day, we process over 60 million data events. Our platform unifies this data centrally and makes it easily accessible for use towards enhancing your customer’s overall experience. This is the foundation.
The Critical Aspect of Real-Time
The real-time nature of data processing is the core direction where I believe digital marketing must continue to evolve. To be able to access and understand the data and the context of a specific consumer in real-time – and to be able to react in real-time – is key to offering a consistent and relevant experience across channels for every individual consumer. To do this, our platform must be able to systematically recognize changes in data and in individual behavior: from macro changes over time, to micro changes within minutes, or even seconds.
Then we must continue to build on top of the foundation of this powerful data management. At Selligent, we’re always moving our platform forward with the ability to easily digest a massive amount of data and events in real time; and to enable marketers to systematically act upon this data in the moment. To do this requires having an intelligent platform that helps you and your business use all of the data, even as it continues to double or triple in size. That’s our goal, and it’s precisely where we’re steering and evolving our platform.
Next time, we’ll take a look at personalization and the advancement of individualized communications.