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In the past two decades, incredible advances in computer and networking technology have provided easy access to an exponentially increasing amount of information to billions of consumers at relatively little cost. Through mobile, digital, and social channels, consumers are becoming more intelligent, fickle, and demanding. Many brands, in turn, are acquiring technology and data necessary to meet those demands and retain loyal customers.
These digital, mobile, and social technologies have effectively put the customer in almost total control of how, when, and where they can engage with a product or a service. Customers can instantly compare prices, access product reviews, and quickly choose one brand over another. As consumer tastes, preferences, and buying habits constantly change, the information and technology that marketers employ must enable brands to respond to remain competitive and differentiate themselves.
Traditionally, marketing has been considered more of an art than a science. However, to succeed in today’s information age, marketing is becoming more of a science. While imagination, originality, intuition, and subjectivity are qualities that marketers should utilize and value, gone are the days of relying on those qualities without leveraging the analytics, personalization, and reach afforded by current marketing technology. These tools have proven to improve customer loyalty (CL) and the quality of the customer experience (CX).