“Every company has customers. However, in the 21st Century, it is no longer acceptable to have only a transactional relationship with customers. TIBCO wants to empower every company to turn their customers into fans.”
Wen explained that we’ve reached the point where marketing can finally use Big Data to gain an advantage. He pointed out that we have the opportunity to use all of the available data about our customers to find better ways to engage with them. Marketing today can take advantage of every data point, regardless of data completeness or accuracy, through sheer volume.
Engaging the customer
A modern marketing platform allows marketers to capture every single engagement, whether in the store, online, or on social media, and to create context that will make every engagement more natural and meaningful. Better engagement is a proven path to higher lifetime value per customer.
But none of these concepts are effective if we can’t manage the data and interaction in real-time. In traditional marketing, transactional information is in a CRM database as historical data, sitting at rest. Marketers need to be empowered with historical data combined with the data flowing in real time to make integrated decisions. This is a fundamentally more powerful way to approach the customer relationship.
Under the covers, TIBCO Engage uses the TIBCO Enterprise Service Bus to move real-time event streams and transactional data into in-memory storage where it can be constantly queried for opportunities for contextual engagement. This speed is incredibly important today, when our customers can drop off the website or change locations as they choose.
Wen pointed out that the most powerful aspect of Engage is the ability to create offers from analytics data, without having to bring IT resources into the mix. The marketer identifies new opportunities, creates and manages campaigns, and then manages performance once campaigns are live.
This is the future of retail for many and today for some.
This post first appeared on the TIBCO Blog and has been lightly edited.