One of the great benefits of digital technology is the way that it allows data to be created, collected and shared. And data about your customers is one of the most important instances of this. It’s the potential of deriving and using new customer data to identify, convert and retain customers that drives the adoption of digital technology by marketing and sales departments.
Of course, the benefits of digital technology go a long way beyond customer insight. There are advertising channels like email, social media and websites to use. There are exciting new advertising formats such as augmented reality to experiment with. There are powerful ways of tracking prospects and consumers with the aim of making sales more frequently and at higher price points. But there are challenges too: managing marketing assets and employing the people skilled in their use isn’t always easy. Leaders need to be aware of these challenges and ensure their organisations are meeting them.88