Timely advice from Experian on how marketeers can turn the downturn to competitive advantage. According to Experian’s ‘Marketing success in a slowdown’ report, brands can create new opportunities to fuel business growth even if spending slows to 2.1% in 2008 and 1.1% in 2009 as predicted. Experian’s report explains how customer insight, integrated marketing capabilities and greater agility with particular emphasis on the role of digital channels in customer management and acquisition.
The best results will be achieved by integrating digital and traditional offline channels to profitably manage customer portfolios. Customers expect to be contacted through different media and companies need to combine different online and offline messages to build compelling, engaging and personal experiences. Integrating channels at different stages of the customer buying cycle and customer management programme will produce greater benefits.
Customer insight needs to be continually revisited to ensure that it is up to date. Marketers need to use gathered information to create relevant messages based on a solid understanding of each customer’s preferences, needs and behaviours. This will pave the way for true one-to-one communication and customer engagement.
Customer profiling will identify which customers are spending the most and enable marketers to adapt and refine retention marketing techniques on a personalised basis and to adapt customer propositions in a timely fashion to prevent competitors from wooing away their installed base.