Blockchain data analytics will be a game changer for understanding customer needs
The key to customer engagement lies in knowing and understanding the customers. The companies that can personalise their services to their desired customers will ultimately win. But how do marketers make sense of so much data to create something that is truly personalised?
Known as hyper-personalisation, it is no longer sufficient to have only a superficial understanding of customers. Companies are now at a stage in marketing technology where they have the data to truly dig deeper and to intimately understand the drivers of consumer behaviour; to not only meet their expectations, but to anticipate those expectations, and to ultimately engage with them.
Many consumers want brands to understand them better, and to know when and when not to approach them. Similarly, equally large numbers of marketers are focused on their data analytics capabilities, bespoke communications technologies, and customer profile data management platforms to deliver personalized customer experiences. Despite this however, the overwhelming majority of these professionals are still finding it difficult to engage with their consumers in a genuinely personalised manner, in real time.
The difficulty arises in gathering insights quickly and efficiently, having enough relevant data, and the problem of inaccurate data. Blockchain technology addresses this challenge head-on, allowing marketers to make personalization a streamlined process by taking the complexity out of data analytics, and making sense of it all.
"Data is everything in our modern-age, this is especially the case for marketers," said DATAVLT co-founder, Michelle Yeo. "The problem with current methods of data analytics, and storage, is the way in which they are stored and siloed based on different departments. This creates a situation where companies do not have a proper, broad understanding of their own data."
She should know too. Yeo spent a significant part of professional career in marketing and communications before being compelled to create a data analytics platform on blockchain technology.
Hyper-personalization requires quality data and targeted data technology. DATAVLT's distributed ledger technology ensures that all stored data is transparent across siloes, and any changes made are verified and immutable. DATAVLT can help marketers supercharge their efforts in hyper-personalizing their offerings to consumers by providing advanced, yet user-friendly data analytics.
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