Alterian and Experian are striving to improve the ability to get a holistic view of customers’ preferences and provide a more engaging experience. Enterprises that gain an understanding of purchase drivers, channel preferences and the ability to predict behavior can create better marketing strategies, centered on individuals, with higher potential returns on investment.
What Is Customer Engagement Management
Customer engagement management is more ambitious than traditional marketing approaches. Customer engagement management does not focus on a single communication channel; instead, its goal is to understand and engage the customer in a coordinated two-way multi-touch interaction.
Although the marketing concept is still emerging, it has already inspired concepts like web engagement management, which as similar goals for engaging website “customers” to have a coordinating, engaging experience.
Data: The Foundation of Engagement Management
Customer engagement management data is more complex than what is required by traditional approaches. It requires organizations to not only send content but also receive feedback. The feedback analysis requires consolidating data from multiple channels and of multiple types across a full spectrum of operations.
This data-driven communication requires the assembly of data in a way that provides a complete view of the customer. This view links behavioral data generated online in websites and email with offline data like in store purchases or support calls. This allows for a organizations to engage a customer in a much more interpersonal way.
The Value Proposition
While marketers are excited, many technology leaders are concerned. Ultimately, technology teams will be held responsible for providing the data and tools required to operate these initiatives. Alterian and Experian recognize this; it precisely these concerns there integrated solutions seek to address.
The partnership allows organizations to take advantage of Alterian’s integrated platform for managing marketing people, processes, and data with Experian’s analytics and data products such as Hitwise. An integrated solution has a huge value for many organizations since marketing team commonly use stand-alone tools that can’t communicate, have different interaction paradigms and require additional effort (time and money) to combine outputs into a cohesive product. Instead of constantly switching between tools, the integrated solution allows moving between tasks like organizing resources, analytics, planning a campaign and approval workflow on a single platform.
The partnership introduces interesting opportunities like combining Experian’s Hitwise feeds with Alterian’s social media monitoring product, SM2. This allows companies to integrate search, and online consumer and competitor intelligence, together with social media. This could have significant value as social media continues to grow exponentially.
Alterian and Experian are hoping to provide organizations with a more efficient and cost effective option to combine customer data across all channels together with comprehensive analytics and monitoring.
The companies expect to develop additional solutions using Alterian’s new Engagement Management tools, which will launch in the United States on November 18. Multiple large clients like Birmingham Midshires, part of Lloyds Bank Group, and Homebase have adopted the solution and communicated early value.
Many in the industry are optimistic that this solution will be useful step toward organizations providing truly personalized one on one marketing that engages customers in a manner that keeps them coming back. Let us know what you think in comments.