Are you getting the customer insights and actionable intelligence your company needs to optimize marketing and business decision-making in the digital age? According to Forrester Research, insights-driven businesses are growing 8 times faster than global GDP. To up their game, companies are combining customer profile and behavior data with a new generation of business intelligence tools. The real key to mastering your data and gaining actionable insights is combining a centralized identity hub with powerful data analytics to provide a unified view of your customers over the entire customer journey.
Let's use an example -- a media and publishing company with a mix of newspapers, television stations and digital assets in various markets. The company has a variety of analytic tools that show them how many people are reading each publication or viewing particular shows online, but lacks a holistic view of their audience across brands and devices. Most of the traffic to their website is anonymous, and each publication has their own separate database of registered users and paying subscribers. A subscriber on one site may be anonymous on another, so the company gets a piecemeal view of their customer base and can't optimize across brands or channels. Meanwhile, their customers are frustrated by repeated requests to register or login as they visit different media properties or switch from their mobile device to their desktop.
The first step in solving this problem is investing in a customer identity and access management (CIAM) solution that can act as a centralized identity hub for all the company's brands and customers. With a robust CIAM solution, the media company is able to implement single sign-on across all their websites and applications, ensuring a seamless and secure experience for their customers, regardless of the publication they are accessing or the device they are using. By incorporating social login into their process, the media company reduces login fatigue and registrations climb. Progressive profiling helps them learn more about repeat visitors -- data which now flows into a centralized database that supports all of the company brands.
Step two is coupling that central identity hub with business intelligence tools that can provide actionable customer insights to the entire organization. Millions of people read this media company's publications every day -- generating terabytes of user data. Making sense of all that behavioral, transactional and user-submitted data requires sophisticated analytical and visualization tools. Fortunately, the CIAM solution this media company chose comes with next generation customer insight tools that enable data-driven decision making.
For instance -- marketing wants to know the results of a recent advertising campaign on registrations. With their new customer insights tools they can see which advertising is just driving clicks, and which is actually resulting in registrations. More importantly, because they now have a centralized identity hub, they can see that some of the audience they've been targeted are actually already paying subscribers. Better intelligence helps them to stop annoying their customers with unnecessary ads and put that money to better use.
Similarly, with their centralized identity hub and business intelligence tools, the revenue team is able to test two discounted subscription offers across multiple brands, and in near real-time determine that the optimum offer for one brand is higher than the other. And the advertising team benefits from a holistic view of their customer base that enables them to map demographics across their publications and deliver exactly the target audience that new advertisers are seeking.
Perhaps most importantly, the media company's customers -- from the loyal subscribers to the occasional viewers -- all benefit from the user experience improvements that the company now initiates based on a better understanding of their customer journey. Little annoyances disappear -- like being repeatedly asked to login to a publication that you've subscribed to -- and new delights appear -- like a content offer that's exactly on track with your interests. Your satisfaction and loyalty grow because this company understands you and delivers an exceptional experience.