In this fast pacing era of technology, it is an absolute necessity to stay updated on the latest happenings about technology upgrade, competitors updates etc. in the global market to gain a competitive edge. A research by Forbes suggests – companies that adopt data-driven marketing are more likely to have an advantage over the competitors and increase profitability.
“The customer data platform industry is expected to grow at least 50% per year, reaching over $1 billion total revenue by 2019”
– A report by Martech Advisor.
This affirms the fact that a customer holds utmost importance and the customer data is at the center, around which every organization revolves. In the business world, getting the attention of the target audience remains one of the primary motives behind the conduct of every business activity. In this era of ever-growing competition, businesses can’t afford to waste precious resources and valuable time. Hence, it has become a necessity for every business to keep track of the latest, accurate and authentic information at all times to stay ahead in this competitive corporate environment.
Reportedly, most of the businesses face internal technical hurdles in becoming a data-driven organization. The primary ones among these hurdles are:
33% of the elite marketers believe that having the appropriate technology for data collection and analysis largely contributes to understanding customers. (source: Econsultancy & IBM)
Most of the professionals second this stat as data does remain a crucial part of any organization. The day-to-day functioning of an organization requires significant and effective decision making pertaining to spheres like sales, marketing, inventory, fund management, etc. An unfavorable decision can amount to a substantial loss. Data proves to be a firm base, over which the decisions are made.
Read more
With the active email accounts expected to reach the 5.6 billion mark by 2019 (source: Hubspot), it is no wonder that despite a host of marketing alternatives, B2B email marketing is still on top of the marketers’ list.
Data forms the backbone of calculated business decisions. Although it helps in shaping diverse business decisions, its importance in formulating marketing strategies stands undefeated.
Operating successfully in the dynamic business landscape calls for constant evolution. Business expansion forms a key element of this evolution. For expansion prospects, it is required to have an in-depth knowledge of one’s industry in general and close competitors in particular. In addition to this, businesses also need to have a fair knowledge of important statistics like previous years profit, funds allocated to different departments of the business and so on.
For service providers, a CRM database is where all the details of the customer are stored. It contains emails, addresses, and all other kinds of relevant data about their customers. But post-General Data Protection Regulation (GDPR), the usual intensity of acquiring new data for CRMs has reduced a bit. No doubt, business agencies wouldn’t want to attract any penalties due to the violation of the new norms, but at the same time, one cannot simply refrain from capturing new data, because it is more or less the fuel for business strategies. So where do the companies serving EU citizens turn to?
Calculated business decisions form the foundation of business success. The importance of reliable data increases even more in the real estate industry where reaching out to buying prospects is altogether a different story. Since the industry involves handsome investments that are quite often one-time and not recurring, delivering real value to your target audience becomes all the more crucial.
Outsourcing is a vast market and a variety of business processes are constantly being outsourced, however after GDPR being passed by EU legislators, there is a bit of a twist in the tale, data privacy norms are stricter and more transparency would have to be exercised on part of businesses dealing with EU citizens’ data. Companies now require to divulge information to customers about how their data is going to be used, and provide them with more elaborate options on sharing data.
.svg)
+1 585 283 0055
+44 203 514 2601
