Zyme, Channel Data Management (CDM), has shared research findings which indicate that consumer technology brands are concerned that current IT systems and processes in place with partners are failing to capture, and report on, all necessary information on customer behaviour.
Only half of the UK vendors questioned (49%) completely trust the accuracy of data they receive on their online and sales marketing activities – data quality (72%) being the main concern. Timeliness (56%) follows closely alongside managing disparate sources (53%). Working across different formats (41%) was also deemed to be a challenge.
In fact, according to the report entitled “The Consumer Technology Digital Intelligence Report”, whilst most consumer technology vendors state they act to evaluate the effectiveness of their online marketing spend it is difficult - if not impossible - to do so. Less than half (46%) believe existing systems and processes provide all the necessary information on customer usage in order to fully understand end user behaviour, making it complicated to align the data with improving online sales & marketing activities.
“All vendors understand that the ability to capture digital intelligence is now critical. We live in an online age and the data gathered across e-commerce websites will significantly impact future business growth if it can first be analysed effectively,” said Nick Andrews, General Manager EMEA & India at Zyme. “As a result the discipline of Channel Data Management is now gaining importance, and momentum, in the market. Companies are largely already in control of internal data so are now investigating how improvements can be made with regards to managing the information flowing through partner and reseller environments. Increased collaboration is expected, and all businesses in the supply chain can benefit.”
The most valuable customer data types are considered to be pricing analysis on what exactly customers are paying, brand perception analysis, brand presence analysis compared to competitors, pricing analysis that shows sales volumes at different price points and stock availability levels. If these areas can be addressed, and reported against comprehensively, vendors would expect to see significant improvements in customer satisfaction & retention (55%); number of sales (49%); product development (46%) and online sales & marketing campaigns (45%).
The research also shows that 68% of respondents think that channel relationships overall can be improved through the sharing of information, whilst 61% said that digital intelligence is now the new battlefield for brands.
As part of an ongoing commitment to raising awareness of, and debating, the key business issues regarding channel data management, Zyme will be hosting its second UK CDM Summit in London on the 14th September 2016 which will include presentations from senior executives from Acer, IDC, Logitech, Unify and Xactly.
