Want to Unlock Revenue Growth? First, Prevent Channel Silos For Seamless Customer Experience
The landscape that modern CMO’s work in is continually evolving. Yet through the changes, achieving greater reach, revenue and return, remain top priorities.
To achieve these goals, marketers must first create great customer experiences. After all, relevant customer experiences help to increase acquisition, strengthen customer engagement, reduce churn and maximise lifetime value – all contributing to the bottom line.
But, marketers increasingly find it a challenge to deliver and measure customer experiences across digital and offline touchpoints as a result of channel and data silos.
Addressing these silos is the key to seamless, omnichannel customer experiences – and revenue growth and to solve the fragmentation issue, marketers must be able to unite marketing at the data layer, gaining help from specialists who can connect all channels (on and offline) to create incredible customer experiences.
This post explores the challenges that marketers experience in achieving this integration – and a new way in which to solve it.
‘Of course revenue growth is still the end goal. But you can only grow revenue if you’re delivering amazing customer experiences. Experiences that blow people away, deliver on the brand’s promise – and do it everywhere.’- Acxiom
Omnichannel Integration: The Challenge For Modern Marketers
Whilst revenue growth is the end focus, in today’s world, CMOs need to address a wide array of challenges. They must be able to:
- Deliver great customer experiences everywhere – at every touchpoint – to ensure loyalty and brand advocacy.
- Personalise interactions across digital and offline channels, powered by people-based segmentation for individualised, cross-channel campaigns.
- Optimise media spend; to buy media more efficiently, marketers must optimise spend on search, display, social, video and TV.
- Activate data across channels, to reduce technology silos by integrating digital with offline, and martech with adtech, ultimately reducing campaign cycle times and time to insights.
- Improve the return on adtech investments, including data management platforms (DMPs), CRM and personalisation engines to effectively reach consumers across digital and programmatic media.
- Accurately measure the impact of marketing spend and understand which channels and campaigns are the most effective in driving revenue and business outcomes.
- Ensure the ethical use of customer data across all data-driven marketing activities.
- Capture the value trapped in customer data by partnering with companies that seek to reach and engage audiences that can be enhanced or identified via data.
Across these challenges we can see a common theme; the requirement to understand the customer journey, and identify how the data that flows across channels and systems can be used to acquire, engage, and retain customers.
But achieving this is impossible if customer data is siloed across dozens of separate channels, campaign management systems, martech solutions and adtech services.
To fix this, modern marketers need an omnichannel view; they must be able to connect their entire marketing and advertising ecosystem – and the best way to do this is at the data layer.
But this, in turn presents another challenge:
The Challenge of Addressing Fragmentation
There are many ways that marketers try to address fragmentation, to gain a holistic view for best insight and customer experience. For example:
- Using Technology. Applied intelligently, martech works. DMPs, Marketing Hubs, Marketing Clouds and Customer Data Platforms all work to solve real problems. BUT none of these integration solutions can solve the problem of fragmentation. Addressing a landscape of siloed channels and data requires more than systems integration, it requires integration at the data layer underneath all these systems.
- Bringing in systems integrators/ the IT department. To coordinate increasingly complex tech stacks it’s common for marketers to turn to internal teams or bring in traditional systems integrators to combine processes and technology. HOWEVER, customer data fragmentation demands a new approach to the integration of channels, systems and the data that connects them. Achieving true integration requires specialists who have deep domain expertise with consumer data, identity resolution, ethical data use and data stewardship – which many teams lack.
- Establishing a single, foundational and privacy-compliant data repository. A data environment is at the centre of omnichannel marketing, connecting platforms and tools, and aligning scattered digital and offline data about prospects and customers in a single, foundational, privacy-compliant data repository. Marketers who establish this environment can enable their own open garden, to develop a data foundation that resolves identity everywhere thereby achieving a complete view of the customer, people-based marketing, closed-loop measurement and relevant customer experiences. HOWEVER, few marketing organisations are ready to make this journey alone – no matter how much help they have from their own IT departments.
Clearly resolving fragmentation for seamless customer experiences – and revenue growth – requires something more. But what?
Omnichannel Integrator: Achieving Enhanced Customer Experience and Revenue Growth
So how can marketers address the above challenges? How should they connect everything at the data layer – to deliver seamless omnichannel customer experiences that result in revenue growth?
One way is with an Omnichannel Integrator – a new type of data and systems integrator that helps brands enable amazing customer experiences by integrating and optimising marketing channels, technology and data through end-to-end services including: strategy, integration, managed services, data environments and measurement & analytics.
“Omnichannel Integrators are focused on helping solve the toughest marketing challenges, from customer experience and personalisation to measurement, attribution, optimising media spend and ethical data use. They’re laser-focused on quantifiable business outcomes that increase audience reach, boost revenue and improve ROI.” – Acxiom
As such, an omnichannel integrator is an essential resource for marketing teams ready to finally unite the entire marketing landscape around the customer.
In the US, for a major retailer, annual potential incremental business value with an omnichannel integrator was $650 million. Equally, a major US financial services company, we have seen them achieve $265 million. – Acxiom Marketing Services
Working with an Omnichannel Integrator allows marketers to capture the value in their data with confidence, unifying siloed channels to deliver exceptional customer experiences – and ensuring revenue growth.
You can find out more about Acxiom’s Omnichannel Integrator services here.