Big data is big business
The growth of technology and the way we interact with data has changed considerably during the last decade and it’s opened up fresh opportunities for companies looking to improve their communications.
Keeping data safe
We discussed big data in detail during our July 2017 Food for Thought event, including the importance of keeping data secure. The legislation surrounding data protection is changing imminently, with the General Data Protection Regulation (GDPR) set to take effect in 2018.
The GDPR has been referred to as the ‘biggest overhaul of data legislation for the EU’. It’s an attempt to harmonise data privacy policies across the EU and is a regulation, meaning it’s enforceable by law, so companies will have to abide by it. The GDPR will introduce new guidelines on how businesses collect, store, process and protect personal information, in a bid to meet the needs of an ever-evolving digital society.
We focused on how providers can comply with legislation and gain valuable insights from their customers to help increase overall engagement. Top tips include:
According to the CIM, 67% of consumers would be happy to provide more data if the company was transparent about how they would use it.
38% of consumers say that they trust companies that are easy to understand.
Show you care
60% of consumers are worried about cyber crime. Make it clear that you know how serious protecting data is and treat it with the respect it deserves, as you would with any other critical asset.
Understand the rules
Only 18% of marketers know how their own data is captured and shared by organisations. Data protection is changing, so ensure your business is aware of the law and the rules.
Many organisations are using creative strategies to gain data in order to empower their marketing and communications campaigns. Lloyds Banking Group gave customers up to 15% off their purchases at selected retailers in return for having their spending patterns tracked. Bupa, a global healthcare company, used analytics to help consumers make better nutritional choices. The company partnered with Australia’s George Institute for Global Health to launch the mobile phone app, FoodSwitch. When users scan barcodes of packaged foods with their smartphones, they receive a recommended list of healthier substitutes, incentivising them to share their personal data (their shopping history) in return for a benefit (advice on a healthier lifestyle).
Improving communications with data
Using data to drive relevant, engaging communications is fundamental and is expected by your members. So how can data engage and entertain?
When you open a generic email that could be meant for anyone, do you actively engage in the content? Probably not. One of the main benefits of collecting data is being able to segment your communications and deliver the right message to the right audience. You can use key information about your members (including their name) to personalise your content and you can use lifestyle information to make sure it’s relevant to them.
Capture behavioural data
If you send out an email campaign, you can track what buttons users are clicking on and what they are signing up to. This automatically gives you a powerful insight into individual behaviour and how to engage with certain members.
Create lasting relationships
If you create regular surveys and ask your members to offer their feedback on your services, you can use this data to improve your future communications.