Technology has empowered customers just as its enabled marketers. In today's information age, marketing and sales organizations live in a complex world, managing several products/services, thus customers. This in turns leads to hundreds of transactions, with each one of these transactions producing a tremendous volume of customer data and information.
Dealing with this data/information can be overwhelming and often confusing to organizations, not to mention the adverse impact it might have on a customer. With this in mind, knowing how to use information to your advantage is the best way to eliminate margin erosion and level the playing field with your customer/buyer.
Due to technology, customers are buying smarter and even using procurement software to cherry pick and drive purchasing decisions-therefore it is important to carefully prepare the correct type and amount of information to progress marketing research, not hinder it. Whether it's brand-building or demand generation, having a clear idea of the objectives of the coverall goal for the organization beforehand enables marketing/sales professionals to define their target processes and elements of the overall marketing campaign. Marketing managers must be able to shift through inappropriate or "not-needed" information and properly tailor their data to optimize return.
How has technology impacted business functions within your organization or everyday personal life?