Stampfeet Blog The Keys To Success In Data-driven Loyalty Marketing

More and more retail marketers are experimenting with the possibilities that analytics offer. How tools and new technology are converging is certainly re-shaping the world of marketing. The question however remains, is this change for the better? Or does it mislead businesses? The answer is both and it depends on how strategic you are when it comes to using data for your business. These days marketers have access to consumer data that is unprecedented; a multitude of patterns can be derived using a huge number of data points, all of which can be either helpful or detrimental to your business. Nowadays, a lot of importance has been given to the power of data and analytics. However, plenty of CEOs and CMOs are still sceptical about what analytics can and cannot do and rightly so. Analytics do help in a number of things but not everything like what data and analytics worshippers would want us to believe. There are still factors such as having a great product design or stellar service delivery that makes an impact without the help of analytics. In other words, the key is translating the data into results. Analytics, albeit a great help in giving a business the sense of direction or inspire its next action are of no use when it comes to revenue, conversion and retention. Some data that are gathered and presented to businesses are not practical. There's absolutely [...]