Marketers are having a hard time calculating the value of their customers, according to a new storybook by international data analytics and analysis brand BlueVenn. The book, entitled Mythical Beasts of Marketing, says marketers can't create an accurate Single Customer View.
That makes it 'impossible' to discover a complete memory for a customer, uniting different data into a single record. The book is based on a poll of 200 marketing professionals from both the UK and the US. More than four fifths (82 per cent) felt they didn't have the knowledge or the resources to pull in all the different data and create a 360-degree Single Customer View.
Also, less than a third feels their brand has mastered omnichannel marketing. All of this is leading to marketers abandoning the Single Customer View approach.
Commenting on this finding, Anthony Botibol, Marketing Director at BlueVenn said, “More than ever, marketers have the data available to them to effectively track their customers throughout the sales cycle and truly understand what makes them tick. Unfortunately, our research suggests that most marketers either don’t have the tools, the time, or simply the skills necessary to access and utilise the data available to them.
“The result is a generation of marketers who often give up before they start on strategies such as omnichannel marketing and the Single Customer View, when the tools to achieve them are readily-available. Marketing departments can often shy away from what they see as complex data analysis tasks, however with the right software and data analytics programs the complexity, in reality, is actually no more than learning an email marketing tool or CRM platform. With the right systems in place there’s no reason why the Single Customer View needs to be a mythical beast.”
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