It's tempting to believe that big data collection equals immediate insight, but those of us who've been at it for a while know that informing and supporting better customer relationships is dependent on much more than ordinary data. In fact, the best insight is dependent on customer-provided preferences.
In our last video series blog, we talked about TERM, which stands for "Technology Enabled Relationship Management" – the concept of forming an enterprise-wide view of your customers across all contact channels. And of course, the technology to do so has expanded rapidly. But now, in an effort to connect in a more authentic way, we advocate for PIRM, or "Preference Informed Relationship Management." However not all existing technology is capable of providing this information, because PRIM is about obtaining detailed information about a customer's behavior, needs, and buying patterns and then layering that data with consumer-provided preferences to enrich your view of the customer. And it's only at this point a company can fully use collected information to customize the relationship, thereby creating and supporting customer loyalty.
Preferences are key to unlocking and understanding existing, already-collected data and creating a layered and complex view of your customer. But because preference data comes directly from your customers, you know it's the most accurate starting point to understanding their wants and needs.
Are you operating from a company-centric point of view, or a customer-centric point of view? If you're not customer-centric, how can you get there?
In this short webinar, Eric Holtzclaw describes the ways in which companies often begin at the bottom of the pyramid by thinking big data is the best way forward. Learn more about re-conceptualizing an approach to data and preferences in our Preference Data ROI whitepaper.
In the following weeks, we'll continue to roll out videos to guide you through the power of preference data. If you haven't yet explored our Resource Center, you can download the Preference Data ROI whitepaper here.
Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace.
With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today.