Many organizations fail to fully transition to digital technology. Instead, they try to fit digital and data-driven work systems into their existing paradigms or refuse. To manage difficult decisions about positions, roles. And functions that are crucial to a complete digital transformation. However, companies that move up the digital maturity curve can see impressive results. Saving up to 30% on costs and increasing their revenues by up to 20%. By studying the barriers to success, we identified six factors that allow companies to move forward on the maturity curve. The first three factors are technical and the remaining three are organizational. All are essential for a business to reach multi-moment maturity.
Mature Marketers Can Link All of a Company’s Data Sources
Mature marketers can link all of a company’s data sources, online and offline, to build a complete view of the customer. In the digital age, connected data is essential, not only for marketing email list of business opportunity seekers but also for applying new technologies to a host of business needs and functions. For example, the financial subsidiary of a large European retailer defined a unified data platform for the 16 million members of the company’s loyalty program. The platform hosts company data (from on-site and off-site transactions and activities) and third-party data in one place. The financial company has cut the online credit card application process in half, from eight to three screens, and now offers differentiated products, such as price-advantaged loans, to program members.
Integrated Automation and Technology Today’s Businesses
Today’s businesses need a suite of marketing technology tools to automate data and content at scale. The necessary tools include web analytics, a CRM feature set, integrated ad technology, and automation tools for message tailoring. These technologies translate into a world of possibilities. A major international retailer that sells both online and in-store used its suite of technology features to segregate their accounts by device type and apply geolocation tools, triggering contact based on how close customers are to the store. It also launched responsive shopping campaigns that rank products by their return on ad spend (ROAS).