OWN YOUR OWN DATA
The first step is figuring out what customer data you already have. If you don’t have first-party data, you need to develop some, pronto. Relying on third parties for your analytics could land you in a precarious position down the road, says Daniel Murphy, an svp for creative agency Deutsch.
“Now is the time to take stock of what you have and own,” says Murphy. “It’s really important that you’re not relying on someone else who could turn off that data feed or start charging you for it. The car won’t run without the fuel, and since data is clearly what the fuel is, you need to make sure you have access to it.”
BUILD YOUR DATA INFRASTRUCTURE
The amount of data available to brands from social media, third-party research firms and their own customers is immense. But if they don’t have the tools and expertise to make sense of it, they might as well not have any data at all.
“You’d be surprised how little attention is spent on what we would all consider to be the absolute basics, like having a clear organizational structure built to handle, strategize and create around the data,” says Accenture Interactive’s Peter Kang. “That’s why you see all these organizations generating new C-level roles, like chief customer experience officer.”
Organizations need to figure out how they’re going to a