A fundamental catalyst for innovation, data fuels growth and success. Now with AI, businesses can have an actual dialogue with customers. Instead of having one-way conversations where customers provide elements marketers seek, we can help customers navigate the breadth of information we make available. In turn, we receive the information necessary to segment them.
In this episode of the MarTech Podcast: Data Makes the Difference, Karlos Palmer, Dun & Bradstreet’s senior vice president of sales and marketing solutions product, and Kim Davis, editorial director at MarTech, explore the essential role of customer feedback, market trends, and insights and data in creating products that meet customer needs and become valuable assets for organizations.
Tune into the podcast and learn:
- How to use data to help your customers achieve better business outcomes and grow faster than their competition.
- AI’s role in fostering innovation.
- How sales and marketing teams use data to drive future product development.
Tune in to other episodes in the series here.
Guest
Karlos Palmer, SVP of Sales and Marketing Solutions Product, Dun & Bradstreet
Karlos Palmer is an accomplished senior executive with a proven track record in product management, strategy development, and business growth. As the Senior Vice President of Sales and Marketing Solutions Product, Karlos currently oversees the strategic planning, competitive intelligence, product lifecycle management, and budgeting functions for Dun & Bradstreet’s flagship Sales Acceleration product, D&B Hoovers and is responsible for driving innovation and growth across the product portfolio. Karlos has a strong background in global alliances, product development, and project management and has consistently achieved outstanding results throughout his career. He holds an MBA in Management from the Texas McCombs School of Business and a BBA in Economics/International Business from Baylor University.
Moderator
Kim Davis, Editorial Director, MarTech
Born in London but a New Yorker for over two decades, Kim Davis started covering enterprise software ten years ago. His experience encompasses SaaS for the enterprise, digital- ad data-driven urban planning, and applications of SaaS, digital technology, and data in the marketing space.
Prior to working in tech journalism, Davis was Associate Editor at a New York Times hyper-local news site, The Local: East Village, and has previously worked as an editor of an academic publication and as a music journalist.
Sponsor
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com.
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In the ever-evolving landscape of customer engagement, the fusion of data analytics and artificial intelligence (AI) has sparked a revolution. This dynamic duo empowers businesses to initiate real-time, personalised conversations with their customers, yielding tangible and far-reaching business outcomes. In this article, we delve into how data and AI are reshaping the customer engagement landscape and delivering real, measurable results.
The Power of Data-Driven Insights
1. Understanding Customer Behaviour
Data analytics plays a pivotal role in deciphering customer behaviour. By analysing historical data, businesses gain invaluable insights into what drives their customers’ actions, preferences, and pain points. This deep understanding forms the foundation for personalised engagement.
2. Segmentation and Targeting
Data-driven segmentation allows businesses to categorise their customer base into distinct groups based on demographics, behaviour, or preferences. This segmentation enables hyper-targeted messaging, ensuring that the right message reaches the right audience at the right time.
3. Predictive Analytics
Predictive analytics leverages historical data to forecast future trends and customer actions. Businesses can proactively address customer needs, anticipate demand, and optimise resource allocation, leading to enhanced operational efficiency.
AI’s Role in Real-Time Customer Engagement
1. Chatbots and Virtual Assistants
AI-powered chatbots and virtual assistants are revolutionising customer support and engagement. They provide instant responses to customer queries, offer product recommendations, and even assist with transactions, delivering real-time assistance round the clock.
2. Personalisation at Scale
AI algorithms can process vast amounts of data in real time to deliver personalised content and product recommendations to each customer. This level of personalisation fosters stronger customer relationships and increases conversion rates.
3. Sentiment Analysis
AI can analyse customer sentiment from social media, reviews, and other sources in real time. This enables businesses to identify issues promptly, address concerns, and capitalise on positive feedback.
The Tangible Business Results
The convergence of data and AI in customer engagement translates into concrete and measurable outcomes:
1. Enhanced Customer Satisfaction
Real-time responses and personalised interactions lead to higher customer satisfaction rates. Satisfied customers are more likely to become loyal brand advocates.
2. Improved Conversion Rates
Personalised recommendations and timely engagement drive higher conversion rates, boosting revenue and profitability.
3. Cost Reduction
Efficient, AI-driven customer support can reduce operational costs by automating routine tasks and queries, allowing human agents to focus on more complex issues.
4. Data-Driven Decision-Making
Data and AI enable data-driven decision-making across the organisation. Businesses can respond swiftly to market changes, optimise marketing strategies, and allocate resources effectively.
The Future of Customer Engagement
As technology continues to advance, the synergy between data analytics and AI will play an even more significant role in customer engagement. Businesses that harness the power of real-time, data-driven interactions will not only strengthen customer relationships but also realise tangible business growth in an increasingly competitive landscape.
In conclusion, Cynthia Ramsaran underscores the transformative impact of data analytics and AI on customer engagement. These technologies enable businesses to unlock actionable insights, foster personalised interactions, and achieve substantial business results. The future of customer engagement lies in the hands of those who embrace the potential of data and AI to ignite meaningful, real-time conversations with customers.
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