Marketing Intelligence in Enhancing Customer Experience

Dec 8, 2021
4 min read

Introduction

Artificial Intelligence has progressed to the point that practically every industry is using it for better business and access to new technology. In every industry, there is constant competition between companies, and one of the most important factors in staying ahead of the competition is understanding the current state of the industry, keeping an eye on the positions of the closest competitors, and keeping track of the changing consumer terrain as a whole. Marketing Intelligence is one such technology that can help any business accelerate its customer services and provide a better customer experience, ultimately resulting in the growth of the company. Let us start by understanding what Marketing Intelligence is.

What is Marketing Intelligence?

Marketing intelligence is information that is useful to a company's marketing operations. After the data has been collected, it may be evaluated to properly and effectively guide the campaign decision-making process. Marketing Intelligence is used by marketers in accomplishing several marketing goals along with higher-level activities like consumer trends, the competitor’s behavior, product analysis, and many more.

Any business needs to understand the customer’s behavior to make the service more customer-centric. This is an essential activity as consumers play a huge role in the growth of any company. Brands may use AI and other marketing intelligence to provide instant customer support, which can help them increase conversions and create loyalty. Customers are significantly more inclined to connect with a company that answers fast, even if it costs more or comes with additional restrictions, such as limited variety or location.

All other marketing techniques will fall on deaf ears if the client experience is poor. Marketers may understand what the audience expects and how to improve the buyer's journey by using marketing intelligence to better capture the customer's route to purchase. Happy consumers contribute to increased market saturation and provide companies the potential to develop and create a reputation in their sector, in addition to improved sales and word-of-mouth referrals. Marketers are concentrating on the end first by continuously reviewing customer experience data, which helps them to work backward to decide what may be enhanced or incorporated for a better user reality.

Types of Marketing Intelligence in Customer Analytics

There are several types of marketing intelligence techniques used by marketers to increase consumer traction. We have discussed some of them below:

Artificial Intelligence

Artificial Intelligence plays a huge role in increasing customer interaction and creating a better impression. Chatbots are an excellent illustration of how AI marketing is assisting marketers in responding to more consumers faster, allowing them to devote more time and resources to directly assisting clients with complex requirements. This does not make the experience overwhelming for customers who are just looking for ways to return any product and get a refund, for example. Companies are able to help more sensitive consumers by utilizing AI to free up human customer care resources at a time when having a tailored encounter with another human is critical to long-term retention and referrals.

Unified Marketing Measurements

The data that is collected with the help of AI leads to many higher-level data regarding consumer behavior that must be analyzed by the firm for a better customer experience. Unified Marketing Measurements (UMM) gathers and normalizes data from many devices, campaigns, and touchpoints to examine individual interactions as well as high-level patterns to show how these factors combined affect the buyer's journey. Hence, it is a great way to get insights into the marketing performance through one analytics datapoint. Marketers may use UMM to communicate progress and outcomes to the leadership team. More importantly, UMM enables marketers to evaluate cross-campaign data, identify actionable insights and next steps, and continue to meet or exceed business objectives.

Real-Time Insights

One of the best advantages of technology over traditional methods is the gain of real-time insights. Predicting a client's behaviour or response to a certain action made via customer service or during the engagement process is what timely insights are all about. One of the most common uses of right-time data in marketing is to course-correct campaigns based on how customers react to or engage with advertisements. Marketing teams will need marketing analytics tools that can process data from campaigns as they are being conducted to do this. Live data acquired through social media is also included in real-time insights. Understanding what a target audience is saying through social listening and brand reputation monitoring may help marketers understand their requirements and respond appropriately.

Use of Marketing Intelligence in Customer Experience

As discussed earlier, customer analytics is very important for any business, and it increases customer retention and loyalty. A large part of this is due to the fact that customer analytics and data can be utilized to customize the customer's experience, increasing the probability that they will not only buy again but that they will purchase in the first place.

If one has prior experience of online shopping in big eCommerce settings like Amazon, they would realize that they get product recommendations from the site on the basis of their search history. This helps in personalizing their feed and showing them products they are actually interested in, instead of irrelevant marketing.

When it comes to online experiences, customers have significantly raised their expectations. They anticipate a degree of personalization to break through the clutter of firms vying for their time, attention, and money. This is why marketers must understand more about their consumers using various marketing intelligence tools in order to tailor e-audience experiences.

EndNote

In this market filled with consumer goods, it is very easy for any company to get overshadowed by its competitors. Hence, it is very important for businesses to understand the significance of Marketing Intelligence and implement them in real life. This way, not only will they gain a certain amount of trust and loyalty from their customer base, but will also experience faster growth and better profit.

According to an article by Mckinsey & Co., A superior experience powered by marketing intelligence has become one of many businesses' most prized sales and marketing tactics. When it comes to their company's performance, those questioned prefer the use of customer analytics above digital marketing, channel management, and advertising management.