Increasing business agility has always been important to executives. But it became especially critical for corporate leaders in the wake of sudden disruption caused by the pandemic.
Unfortunately, not all companies fared well in terms of becoming more agile in 2020.
A recent Business Agility Institute report found the self-declared agility maturity level for enterprise organizations worldwide increased 8% in 2020 from the year before.
The agility maturity level for North American companies, though, decreased 10%.
In short, it was the companies with the right mix of people, processes, and technology that were able to respond to rapidly changing consumer behaviors and, subsequently, thrive in the challenging business environment brought on by COVID-19.
To thrive like these large-scale organizations in 2021 and the years ahead, it’s critical your business increases its agility level as well.
And that means investing in a pure-play customer data platform (CDP) like BlueConic to democratize your customer data and make it actionable to all growth-focused teams.
Why increasing your business agility depends on the quality of your tech
At its core, business agility is the ability to shift as internal and external conditions change.
Whether it’s the release of new products or services, the embrace of new business models and/or revenue streams, the announcement of new consumer privacy laws, or the arrival of a global pandemic, your company must be ready to adjust quickly and efficiently.
As a quartet of business management professors wrote for MIT Sloan Management Review:
“Ultimately, to successfully adapt to and achieve strong performance in times of crisis, managers need to effectively integrate speed and agility in all of their operations.”
To increase your agility — and, in turn, become more customer-centric, realize better marketing and business outcomes, and gain a competitive advantage in the market — you first need to audit (and likely upgrade) your company’s technology stack.
Forrester VP Principal Analyst James Staten noted today’s top corporate leaders make savvy, forward-thinking tech investments — and prioritize an agile business approach:
“CIOs and CMOs who successfully position their teams as customer experience drivers and digital transformers are successfully accelerating their investments with agility.”
Similarly, in its research on what companies can do to become more agile post-pandemic, McKinsey highlighted five key areas business leaders must focus on — including technology:
“Agile organizations think of technology not as a supporting capability but as being seamlessly integrated with and core to every aspect of the organization.”
The McKinsey analysts added agile businesses focus on both tech adoption (onboarding advanced, modern solutions) and elimination (ditching dated or redundant legacy tools).
The results of adopting tech that enables greater business agility — like a CDP?
The consulting firm found 93% of agile organizations outperformed non-agile companies in customer satisfaction levels and operational efficiency.
Several teams across the business (e.g., analytics, data science, product and experience) benefit from a CDP like BlueConic. But the one that arguably benefits most is marketing.
As BlueConic VP Marketing Michele Szabocsik wrote in a recent Forbes guest post:
“By embracing the right technologies, marketers can gain the flexibility and agility they need to keep up with customers, as well as the ability to orchestrate bespoke, end-to-end experiences across every touchpoint.”
Take BlueConic customer Belgian Cycling Factory (BCF), for instance.
As our case study explains, the bicycle manufacturer was forced to shift to a direct-to-consumer model when its network of dealer stores closed due to the pandemic.
Starting its own ecommerce store, collecting first-party data for individuals who engage with the company, and unifying that data in BlueConic has helped BCF and its dealers enhance their customer engagement efforts and adjust well to the new business landscape.
How our customer data platform can help you improve your business agility
Regardless of your business model or strategy, BlueConic can help you better understand and interact with customers, outperform the competition, and increase agility. Here’s how.
BlueConic’s persistent customer profiles update in real time. That is to say, these profiles update dynamically — as fast as individuals move across their unique customer journeys.
Regardless of how many profiles a company has within its BlueConic database — hundreds of thousands or hundreds of millions — its business users can rest assured profiles are always accurate (e.g., consent status, last purchase, customer lifetime value score).
In turn, they can confidently segment, analyze, model, and activate their data as needed.
BlueConic is data-agnostic. That means you can send consented, first-party data to other systems in your company’s technology stack in actual real time. What’s more, you can also easily accommodate new data sources and formats as required.
Unlike the marketing cloud suites, our customer data platform fits seamlessly in any company’s data ecosystem and technology stack. That means BlueConic can easily adapt to any changes in said ecosystem and stack due to our CDP’s ‘pluggability.’
BlueConic’s profile database architecture enables business users to ‘scale up’ their data sets.
In other words, users can add new profile attributes over time from other sources and systems without undoing months (or years) of work due to rigid data schemas.
Another big bonus for businesses with our customer data platform is they don’t have to deal with ballooning data storage costs (or delete key first-party data sets to avoid them).
Our CDP is designed to help organizations see ROI within weeks or months of implementation and expand and deepen their marketing and business use cases over time. That is, our platform scales for today’s goals and tomorrow’s ambitions.
BlueConic also enables business users without technical skills or SQL knowledge, like many day-to-day marketing professionals, to activate their first-party data with ease.
Scoring individuals based on behavioral data, building multi-dimensional segments, deploying out-of-the-box predictive models, and orchestrating cross-channel lifecycle messaging — and all in real time — enable our customers to become more agile.
Enhancing business agility and realizing transformational growth with BlueConic
The pandemic and ensuing economic uncertainty reminded business leaders everywhere why they need teams and technologies that allow for agile transformation and growth.
The companies that quickly and efficiently adapt their marketing plans and business models — and, specifically, double down on highly personalized customer interactions and engagement — are the businesses that will thrive in 2021 and beyond.
And the key to realizing this success is investing in BlueConic’s pure-play CDP.
Some technology decision-makers focus too much on the tactical use cases their teams can implement and metrics they can improve with customer data platforms they research.
As BlueConic COO Cory Munchbach wrote for Toolbox, this is the wrong approach:
“Evaluating a CDP for the agility, flexibility, and efficiency it enables beyond just the performance improvements it produces can simplify the vendor selection process and ultimately make for a better outcome.”
And our CDP is the solution that can help you become more agile, flexible, and efficient — three traits your teams need today to help transform your business and accelerate growth.
Request a BlueConic demo today to discover how our pure-play customer data platform can help your organization become a more agile business in 2021.