With constantly evolving technologies, customers demands have also increased. Today’s customers are expecting extremely personalized experience no matter wherever they go. Did you know 78% users believe that providing personalized content results in better business to customer relationships. But it is not as simple as it seems as there are many hurdles in the way of getting reliable customer insights. Three major challenges are as below :
- Your dependency on third party data :
In general terms, third party data is the data gathered from some source which is not the customer of company. Mostly, third party data is purchased from data brokers who collect data about prospects from public sources like surveys, voter ids, etc. This data gathered from multiple sources is often outdated and doesn’t make much sense when collected together, resulting in irrelevant experience to your users.
- Inability to link multiple technology and devices data :
Another challenge faced is the inability of traditional cookie system to give data about customers across multiple devices leaving you completely clueless of who your customers actually are! Apart from this, the data is gathered across numerous channels resulting in data silos!
- Inefficiency of legacy databases :
Do you know the legacy databases of your business are not designed for data driven marketing? After all data is vast and comes from hundreds of resources. That’s why your traditional databases are not able to manage customer data in an easy to analyze, manage and segment way which is another reason behind the inability to deliver personalized experience to your audience.
Why we love Customer Identity Management (And you should, too!!)
Customer identity management has evolved as the core of modern marketing, let me explain you how! During customer registration process on your website or application, the visitors authenticates himself along with providing reliable first party customer profile data to your business. Data fetched while registration gives you clear idea about who are your customers. Precious customer insights gained are the core of long lasting relationships with your customers and higher revenue.
With multiple customer identity management products, you are able to drive more sign ups, effectively implement customer data management and generate better converting campaigns across all the channels. Here are the major benefits of effective customer identity management :
- It tells you who your customers are!
With the reliable permission based first party data fetched via registration process, now you are able to identify your real customers and prospects.
- It will provide you a unified customer view!
It will help you to create ideal customer profiles by linking together customer behavior across multiple devices as well as channels. Thus you can identify customers the way they are connecting with your business resulting in a unified customer view.
- Conversion of data into action!
With effective customer identity management, the data can be easily analyzed, segmented and utilized to deliver highly personalized experience to customers. A unified customer data across your marketing campaigns is sure to bring you higher return on investment.
With personalization being the base of all the marketing strategies, it won’t be wrong to say that customer identity management is the core of modern marketing. What do you think about it? Share your opinion in the comments below!