Data breaches are a hard reality for every organization. Just ask Noodles & Co. The fast-casual restaurant chain announced on June 28 a major security breach of customers’ credit card information that occurred between January 31 and June 2 and affected customer data at 44 locations in Minnesota and 37 locations in Wisconsin. These vulnerabilities cost companies and their customers plenty in terms of brand reputation, as well as dollars and cents.
In today’s multichannel economy, data-driven customer experiences (CX) are crucial to companies’ future growth. According to a Forbes Insight report, Data Elevates The Customer Experience, the benefits of providing data-driven CX are wide-ranging, including enhanced revenue generation and enabled cost reduction, as well as accelerating process efficiencies and quality improvements. However, many organizations are still working toward sharing data across applications and departments.
Digital marketing requires relevancy and resonance to help lead customers through a buying decision. This requires deep insight and data into a target audience to understand their needs and serve up content that is valuable to them. Recent research from Experian Marketing Services highlights this need, noting that over half (52%) of marketers state their priority for the year is to enhance their knowledge of their customers’ wants and needs.
Marketing organizations succeeding with data analytics are three times more likely to hit revenue goals than their counterparts, according to a recently published Forrester Research report, commissioned by Google. Nearly 20% of those respondents beat their revenue goals by more than 10%.
Written by Klaudia Tirico A study conducted by GDMA, an alliance of 27 independent marketing associations around the world, and U.S. research and consulting firm Winterberry Group shows that 81% of marketers believe data is important to their efforts, with 59% even calling it “critical.”
Reward program solutions provider Paytronix debuted the first research brief in a series of reports titled, Extracting Customer Insights from Big Data. The report is designed to help retailers and restaurants leverage their data insights and marketing innovations to increase customer visits and spend.