Benefits and Challenges for using Customer Data for Marketing

Benefits and Challenges for using Customer Data for Marketing

It is necessary for the company is to send the right message to the right target audience and at a proper time. With the usage of the data, the companies feel empowered as the data helps the marketers to conduct campaigns, which help in converting the marketing leads (Dewnarain et al, 2019). Data insights also help in understanding the requirement of the customer and their behavior towards the product. This is making marketers provide customized marketing to consumers. Data can also be, used for expanding in various marketing channels thus facilitating communication approaches (Vassakis et al, 2018). Distributing the data-driven advertisement in various channels with the assistance of the automated marketing campaigns aims in maintaining consistency in the message content. Consistency in the message helps the marketers to align the message in the right distribution channel.

Cybersecurity, cyber theft is on the rise as the data is making the marketers to not only to benefit from it but also to protect the data (Kiel et al, 2017). Misuse of data is taking place in most companies, where the marketers are installing software’s so that it can protect the system from virus attacks. Respecting the data information is very important, which is making the marketers keep their company or customer data locked up with high-security codes or passwords. This ensures the safety and authenticity of the stored data (Matz and Netzer, 2017). Another challenge that the marketers have to encounter is to align by the regulations regarding data compliance. The marketers have to follow certain regulations for collecting data and using it. The regulations differ from one nation to another so it is, necessary for the marketer to abide by the data compliance of that particular nation (Tuten and Mintu-Wimsatt, 2018). Abiding by the legal regulations helps the marketers in avoiding the legal fines and extra cost.

 

 Reference List

Dewnarain, S., Ramkissoon, H. and Mavondo, F., 2019. Social customer relationship management: An integrated conceptual framework. Journal of Hospitality Marketing & Management, 28(2), pp.172-188.

Kiel, D., Müller, J.M., Arnold, C. and Voigt, K.I., 2017. Sustainable industrial value creation: Benefits and challenges of industry 4.0. International Journal of Innovation Management, 21(08), p.1740015.

Matz, S.C. and Netzer, O., 2017. Using big data as a window into consumers’ psychology. Current opinion in behavioral sciences, 18, pp.7-12.

Tuten, T. and Mintu-Wimsatt, A., 2018. Advancing our understanding of the theory and practice of social media marketing: Introduction to the special issue.

Vassakis, K., Petrakis, E. and Kopanakis, I., 2018. Big data analytics: Applications, prospects and challenges. In Mobile big data (pp. 3-20). Springer, Cham.