Marketers understand the importance of data. However, harnessing the power of data to deliver great customer experiences (CX) and drive retention poses several challenges.
The first challenge is building a strategy to turn data into insights. It is not enough to focus on the infrastructure to gather and analyze data. Understanding the purpose behind data collection is crucial. Set up KPIs and metrics to identify the value and worth of every piece of data.
Gleaning insights from data is useless unless these insights can scale up business conversions. This requires treating data as a key business asset and having an action plan for utilizing the collected insights.
In today’s highly competitive business environment, businesses have no choice but to align their resources around great CX. They need to leverage the power of emerging technologies such as AI and curate a system of best practices.
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