Insights on customer, competitors, products
Being able to have a 360o view of the customers and anticipate changes to market landscape is something that every company or brand continues to strive for. To have that view, relevant and meaningful data is necessary. The question now is what is needed to turn data into actionable insights that will drive business outcomes especially in the areas of customer, competitors and products.
Actionable insights tied to business drivers
Take the telecommunications industry for instance, if telecom operators are able to have insights which are able to drive business growth, they will be able to accurately deeply engage audiences and design targeted initiatives for the following areas:
- CUSTOMERS – High value customers
Customer experience improvement, network planning, retail outlet optimization, field force optimization, pricing strategy
- COMPETITORS – Market share insights
Customer acquisitions, activations, reloads, dealer acquisition, BTL marketing
- PRODUCTS – Multi-SIM detection
Customer conversion, customer loyalty & retention programme
Some of these insights are industry agnostic (e.g. high value customers, market share insights) whilst other insights are specific to the industry drivers (e.g. multi-SIM detection).
Illustration: High Value Customers
Enriched data with continuous feedback loop anchored on our Xact platform
ada provides a new service namely Data-as-a-Service (DaaS) which is powered by our proprietary data management platform (DMP), XAct, which is uniquely positioned to optimise consumer journey planning, customer profiling and intent targeting. Within the Xact platform, we have about 280 million unique devices monthly in one single place with over 200 attributes for each individual which enhances ad personalisation and targeting. On a monthly basis, we process over 50 billion records of data. These data sets comply with privacy laws and are legally safe as customer profiled information is anonymized.
In addition, brands are able to obtain even wider insights on their customers through data enrichment which involves integration of Xact platform data with customer channels/ 1st party data. This allows for all marketing decisions to be driven by data with a feedback loop across the digital advertising value chain (planning, creatives, ad operations).
Most importantly, to ensure power of data is fully realized across the 3 areas – customers, competitors and products, there needs to be
- Strong execution team – this includes data scientists (audience segmentation, visualization of data insights) and growth hackers (targeted campaigns to drive business growth)
- Right tools/ dashboards in place – this includes tools for operational decision making using rich Xact profiles
- Clear measurement of success – this includes attribution of targeting, customer LTV as feedback loop for continuous improvement