As told in the post Psychographic Data Quality marketers are moving from demographic marketing to psychographic marketing where a lot more data than before are used to getting the right message, to the right suspect at the right time. This affects the way we are working with data quality around customer master data and eventually how we do multi-domain master data management.
Using data for building psychographic profiles not only deals with lead generation. It’s usable throughout the whole customer master data life cycle by for example:
- Finding the best suspects at the right moment
- Keeping the prospects on the optimal track coordinated with the prospects need
- Ensuring a well received customer experience and facilitating up-sell and cross-sell.
- Preventing churn
- Making win-back possible
These opportunities apply to business-to-consumer (B2C) and business-to-business (B2B) as well.
Location master data management is essential in this quest as well, because we are not abandoning the basic demographic attributes in the physiographic world. We are building a deeper data universe on top of the traditional demographic (and firmographic) data. Having accurate location master data only helps here.
Mastering product master data is essential in the psychographic world too. This does not only apply to having your product hierarchies well manages for your own products, but will eventually also lead to a need for handling data on your competitors products and services in order to listen to social data streams.
Master Data Management (MDM) will extend to Social Master Data Management and must support wider exploitation of big data sources by being the hub for the psychographic customer profiles and the reference for descriptions of the product and service realm related to the psychographic attributes.