According to a PwC survey on data trust, 94% of CEOs consider data on customer preferences/needs as critical or important, but only 15% actually have comprehensive data in this area. Reliability, evolving regulations, and access to data are named as common obstacles for companies that are trying to act on and monetize their customer data.
It’s no secret that the most cutting-edge and customer centric organizations are those that can overcome these challenges. In Deloitte’s Digital Transformation 2020 survey, 45% of mature companies from a data and digital experience perspective achieved net revenue growth above industry averages, compared to only 15% of companies not rated as highly mature.
Introducing Segment's Customer Data Maturity Model
After helping thousands of companies map their customer data strategy—including several Fortune 500 enterprises—we found companies with a high level of customer data maturity are able to trust their data to make decisions, personalize the customer experience, and adapt their business to changing environments and customer needs. These core competencies have a remarkable impact on the success of their businesses overall, leading to more efficient acquisition, deeper customer engagement, and increased revenue.
Where does your company fall on the Customer Data Maturity scale? Are you a visionary or are you just getting started? Most likely you fall somewhere in the middle, but how do you know?
We’ve consolidated our learnings into a 4-question Customer Data Maturity Model that will help you understand where you are from a data maturity perspective and provide specific recommendations on how to take your organization to the next level.
In this quick, four-question evaluation, you will learn how your company tracks against the four core competencies of Customer Data Maturity:
Collect - how complete, reliable, and standardized your data collection process is.
Synthesize - how easy is it to turn data points into insights for all teams?
Act - how personalized and timely are your customer interactions across channels?
Adapt - how accessible and easy to work with is your data? How quickly can you adopt new tools?