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Customer analytics: Do it in-house or use a third party?

Customer Analytics SoftwareWith the abundance of data available to organizations of all sizes, it’s never been more important to concentrate on the quality, rather than the quantity, of the information you’re collecting and analyzing.

Marketers are constantly trying to improve campaign ROI, better understand customers and spend less time cleansing and updating the database.

Brands with small marketing departments, and many plates to spin, have traditionally outsourced the analysis of data and customer insight to an agency, third party or the IT department. The organization frequently either doesn’t have the skills to complete their own analysis or the resources and time to complete the analysis in-house.

However as companies grow and their data requirements become more complex, they will find that the monthly retainers with the agency increase and there are more add-ons when they need to ask more data-related questions, or get more insight.

Agencies put importance on relationships with clients to ensure that transitions such as this are smooth, but as technology and data have moved on over the past 10 years and marketing is moving to a real-time digital environment, even small marketing teams need to be agile and have the ability to be reactive in near real time.

There are many examples where it takes weeks for the agency to come back with the answers to data-related questions and by this time, the organization has another 20 questions that they need answers on.

Organizations that have moved away from agencies and implemented customer analytics software in-house are finding they can now get complex, insight-driven campaigns out in hours as opposed to weeks. They are able to create real-time customer experiences and gain more insight into their customers than ever before – quicker than ever before.

As a result they can gain answers to data questions quicker, build models faster and get more targeted campaigns out in days as opposed to weeks.

A real-life example can be seen by Space NK, who had little flexibility to drill down into the numbers and explore data when using a third party agency. Now, using BlueVenn customer analytics software, Space NK can take campaigns from concept to action in 24 hours or less, rather than weeks and are making much more informed business decisions.

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