Customer experience has changed drastically over the years. Businesses previously focusing on providing a superior customer experience, through the delivery of quality products and services, are falling short in meeting customer expectations, today. Why? Because delivering superior quality services is now considered table stakes. Customer loyalty today, hinges on a completely personalized customer experience. Customers expect organizations to tune into their needs and provide individualized messages that are suited to their specific areas of interests.
However, for businesses to engage in personalization, they also need to understand the pulse of the market and strategically target the right set of products and services, to the right audience, at the right time, across the right channels, before they are out-paced by competition. This is possible through proper analysis of customer data which thwarts unnecessary messages and advertisements from reaching the customer and turning them off. British Fashion Brand Burberry, American Travel and Restaurant website TripAdvisor, Mass Media and Entertainment Conglomerate Disney, are some of the few companies that have taken customer personalization and targeting to a completely new level.
So, why don’t more business adopt marketing techniques like personalization and strategic targeting?
While personalization and targeting are certainly effective techniques to wow customers, they come with their own set of challenges. For businesses to deliver tailor-made products and services for a target audience, they need to delve to a level of granularity which customers will appreciate. This means digging through volumes of varied data, at top speed, with tools and technology that might not be at their disposal. And, with CMOs already fraught with cutting costs and delivering innovative solutions to transform businesses and increase RoI, this seems like a formidable task.
Delivering smart solutions through proper collation and examination of available information does not need to be a daunting task anymore.
So, how can businesses face the challenges created by the digital transformation era head-on and still stay afloat?
At TCS, we help businesses devise and execute fact-based, data-driven, intelligent solutions around marketing and sales with advanced analytical techniques and methodologies. Businesses can arm themselves with real-time insights which will help them identify opportunities worth pursuing in existing and potential markets, optimize sales strategies across channels and geographies and provide data-driven support to handle after-sales activities. Businesses can also effectively strategize their digital marketing programs to track and measure customers’ online footprint. With the right sales analytics, businesses can deep-dive into the historical sales data and flesh out business critical insights to make informed decisions and effectively manage the end-to-end sales funnel.
Delivering smart solutions through proper collation and examination of available information does not need to be a daunting task anymore. With TCS as a partner, we can help you face your challenges head-on.
About the author(s)
Dinanath (Dina) Kholkar is Vice President & Global Head, Analytics & Insights at Tata Consultancy Services (TCS). In this role, Dina guides some of the world’s best companies in their journeys to unlock the potential of their data through the power of analytics and artificial intelligence (AI) to uncover new business opportunities, drive business growth and increase revenue streams.
Dina has been recognized as one of the top 100 influential global data leaders and data visionaries. He advocates ‘data centricity’ as a strategic lever for business growth and transformation. His thought leadership in addition to his team’s expertise and collaborative working with customer organizations is empowering them to realize the power of their data in real-time decision making and ensuring success in their Business 4.0 transformation journeys.
Dina holds a bachelor’s degree in electrical engineering. He has been providing industry leadership to the IEEE Pune section for over 15 years; currently Chair, Industry Relations and Membership development. He also provides leadership, guidance and strategic direction in domains including education, sustainability, agriculture, and ‘data for good’ through his volunteering work at IEEE Pune Section, Pune International Center (PIC), and the Tata Group. Dina is a member of the Board of Governors of his alma mater Veermata Jeejabai Technological Institute (VJTI), Mumbai and actively involved in the institute’s alumni association. He is a review committee member, Indian Statistical Institute, Kolkata and is on the advisory committee at Pune Knowledge Cluster (PKC).