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Marketing Relevance In An Omnichannel World – Forrester

Article Synopsis :

Digital consumption is growing by leaps and bounds, which means data capture and measurement are key to successful customer engagement and product marketing.

 The Digital Insurer reviews Forrester’s Report on Marketing Relevance In An Omnichannel World

Pulling everything together on one device is a major challenge for most insurance marketers

In “Marketing Relevance In An Omnichannel World: How Data And Measurement Are Key To Customer Engagement”, Forrester explains how omnichannel marketing hinges upon the ability to develop a “complete picture of the customer” regardless of channel or device. Mature omnichannel marketers integrate more descriptive data (behavioural and attitudinal) and have more robust measurement capabilities in order to deliver on their omnichannel (and overall) marketing goals.

Though marketers understand the need to boost their omnichannel  capabilities, poor data quality and insufficient measurement tools pose in some cases substantial barriers.

Forrester measures omnichannel maturity across four dimensions:

  1. Organizational structure
  2. Contextual understanding
  3. Customer identification
  4. Measurement and attribution

Based on these four dimensions, the report assigns one of four levels of omnichannel maturity:

  • Level 1 — Operates channel-specific silos
  • Level 2 — Integrates data across channels
  • Level 3 — Leverages insights to optimize marketing
  • Level 4 — Orchestrates real-time contextual marketing

As omnichannel marketing evolves, carriers are always playing catch-up with their capabilities.  Fundamentally, insurance marketers should focus their investments in four activities:

  • Mastering cross-device identification
  • Measuring performance across channels
  • Turning data and analytics into insights and actions
  • Centralizing the organization around omnichannel goals

Trying to implement everything at once can overwhelm an organization, paralysing the ability to act. The authors recommend three core questions to guide operational decision-making:

  • Are we engaging with the right customers?
  • Are we integrating the right customer data and analytics to convert insights into action?
  • Are we building on core capabilities toward true omnichannel maturity?

Link to Full Article:: click here

Digital Insurer's Comments

Providing a seamless, personalised, timely and consistent experience across all devices seems easy enough…

But the hard truth is most legacy technology environments have been built case-by-case in response to specific business requirements on a low-cost basis. Capital earned and allocated by LOB means technology and data siloed by LOB.

Digital transformation looks at the whole without disregarding the value and history of the (siloed) parts. Leveraging existing assets is key to any successful transformational strategy. This report does an excellent job helping insurance marketers in particular understand where they are on the path to a more unified customer experience.

Link to Source:: click here

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