As a company whose focus on digital transformation and managing information enables agility for speedy executive decision-making and quick wins in the digital economy, COO Wayne Borcher urges companies not to make the mistake of thinking that only large corporations will benefit from the digital journey.
“Research from Gallup shows that those who use customer behavioural insights to create customer-centric solutions and products outperform peers by 85% in sales growth. Therefore, organisations who view customer data as a business strategy are likely to outperform those who don’t, regardless of size.”
Where the data journey has already attended to cumbersome legacy systems and database silos and where data is now business-ready, Borcher says analytics can provide competitive intelligence and direct further targeting, increasing operating profits.
“Once a client has been through the process of data modernisation, they’re working with trustworthy information and therefore getting trustworthy analytics in return. Data can show retailers, for example, what their customers buy; how often they visit a website and for how long; and whether they contact customer service.” This information, he asserts, can paint a picture of each customer’s choices and buying habits.
Data democratisation for better service
He notes that integrating significant customer data and democratising it – that is, making it accessible across the business - not only cuts down on duplicate information gathering and manual data entry, but can engage consumers with better deals, service and experiences.
“This is where the incredible possibilities of data and analytics kick in,” Borcher says. “Custom campaigns can reach out to specific sectors or even discrete customers. Marketing experts suggest that personalisation can deliver five to eight times the return on investment on marketing expenditure, and raise sales by 10 percent and more.”
While organisations are at different data-maturity levels, Borcher believes that many companies have valuable customer data assets that could be put to use as soon as their data is business ready. “Having set up your strategy and governance and ensured data hygiene and trustworthiness, small pilot project runs could be beneficial while the rest of your digital process continues.
“SSA is able to assist with your data-maturity testing and help you to create pilot studies while we continue to ensure safe passage through your data journey.” With the backing of experts, it may be more than worthwhile...