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According to Marlon Bowser, CEO of technology supplier HTK, “If retailers are going to prioritize something this year, it should be data. Pursuing CX and loyalty initiatives without giving proper attention to the data that powers them will result in less-than-stellar customer experiences.”
At Loyalty360, we’ve seen that Bowser’s advice is extremely relevant. As the technology and regulations surrounding customer data continue to evolve, businesses must find new and inventive ways to utilize this data without overstepping their bounds. This has become more of a challenge for companies recently, as the sheer volume of data continues to rise and as customers begin to question what companies do with this data. While the link between data use and customer loyalty has become as clear as day, many companies are still struggling to utilize their data in an effective and efficient manner.
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