Marketing

Why modern data handling is so important – eCommerce Magazin

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Advertisers have to constantly modify their strategies in digitization. Rapid growth makes it necessary to implement innovations more quickly in order to meet current market needs. Above all, this means making better use of the data available for the customer experience and becoming part of the digital transformation. Not only, but mainly due to the pandemic, e-commerce sales have increased noticeably since spring 2020.

Digital Commerce 360 ​​estimates that consumers worldwide spent nearly $ 4.29 trillion online in 2020, up from nearly $ 3.46 trillion the previous year. This corresponds to a 24.1 percent increase in global web sales. In 2019, the increase was 17.9 percent. Global e-commerce sales are projected to reach $ 4.89 trillion in 2021, according to eMarketer. In general, market researchers expect this number to continue to grow over the next few years. Statista.com predicts mobile commerce sales will hit $ 3.56 trillion in 2021, 22.3 percent more than the $ 2.91 trillion in 2020.

How marketers can participate in dynamic growth

Today companies need a flexible approach in order to participate in dynamic market events. This is where the Anywhere Operations (AO) model comes into play more and more frequently. AO’s approach is to make distributed resources and knowledge usable for the benefit of optimal flexibility and performance. The aim of the conception was to support customers everywhere and to give employees the opportunity to deliver convincing services, products and experiences regardless of their location.

In view of the ongoing agile hype, AO is already among the leading strategic technology trends listed by Gartner and is expected to be implemented in 40 percent of companies by 2023. Especially marketers will benefit from this. The key benefits include optimized collaboration and an improved customer experience. AO ensures open access to information and systems in order to remove data silos – one of the biggest hurdles in digital transformation.

Consolidating data and tools to make them available in a uniform manner enables more productive collaboration, including between marketers and sales teams. This is crucial in order to make the right decisions for advertising campaigns and the compilation of offers faster. The better availability of currently recorded data makes it easier for marketers to show the finance department that the chosen marketing activities are actually effective.

Customer experience: which aspects should be considered at AO

Marketers can leverage built-in insights and insights to increase customer satisfaction in a number of ways. Having a complete overview of all multi-channel activities is crucial in order to further develop successful interactions and promote positive experiences for the benefit of long-term customer loyalty. The ongoing analysis of historical and real-time customer data helps identify new trends at an early stage and even predict future needs.

The implementation of the AO model, which is heavily based on interconnectivity, depends on the market position, the product portfolio and the degree of maturity of the data usage. Companies should meet the following three requirements before jumping on the AO bandwagon. Marketers need a solid foundation in data coordination to benefit from AO. For this purpose, information from all available sources – online and offline – must be collated, linked and consolidated using automated orchestration tools. The aim is to create a “Single Source of Truth” for better-informed strategic decisions, optimized collaboration and first-class customer experiences.

More flexibility in the customer experience through modern data management

The merged data ensure greater clarity, but quality management is also required by means of thorough data cleansing from the start. Modern data systems are able to link and filter data in such a way that problems can be identified and corrected quickly before major discrepancies occur. Functioning remote access is also crucial in order to fix errors quickly and in a targeted manner. An uninterrupted flow of data is essential for the optimal usability of AO in practice. Effortless integrations with analytics, BI and CRM tools prevent the recurrence of data silos and make data use more efficient.