A couple weeks ago, Accenture announced the results of global research they conducted with marketing executives. One of the themes of the research’s findings is the importance of customer analytics. It was cited – along with offering innovation, digital orientation, customer engagement, and marketing operations – as one of the five capabilities CMOs will capitalize on to improve their company’s performance.
The research showed a significant “performance gap” between the importance and the performance of customer analytics within organizations, according to the marketing executives surveyed. In terms of the biggest barriers affecting the performance of customer analytics, inefficient business practices and lack of critical technology/tools were cited as the top two reasons.
At Origami Logic, we believe importance is being placed on customer analytics because it helps an organization gain an understanding of consumers’ desires. The knowledge about consumers that can be collected today is unprecedented. Thanks to the content being generated in social media channels, insight about consumers no longer has to be just demographic in nature. Psychographic and behavioral attributes can also be derived. Having all of this information at the fingertips enables marketers to deliver relevant content in their campaigns like never before.
The entire Accenture report can be viewed here.