By Jalaja Ramanunni
First-party data is now the most coveted cookie in town. As first-party data becomes one of the most valuable assets for companies, businesses are figuring out how to improve customer experiences, increase customer loyalty, and boost profitability.
However, not all companies have the skills and expertise to effectively use their first-party data. Landmark Digital went through 200 resumes while searching for the right candidate. From what we hear, it is very relatable while businesses look for talent in first-party data.
In a recent panel discussion organised by Epsilon, industry experts weighed in on the skills gap surrounding first-party data and the transformation it can bring to businesses.
Defining the right skills
The future of loyalty programs lies in overcoming the talent shortage in first-party data management. The challenge lies not just in understanding the potential of first-party data but also in translating that information into effective strategies at the boardroom level, shared Paul Davies, Senior Vice President, Client Partner, Epsilon, who moderated the discussion.
Finding professionals with the right combination of skills and experience is no easy feat and can often be a lengthy and challenging process. James Dickson, Chief Product Officer, Landmark Digital, shared his experience of searching for the right person to lead their loyalty team, noting that they had gone through 200 resumes without finding the right fit.
What skills should businesses be looking for in professionals who can effectively leverage first-party data and loyalty programs? According to Dickson, the answer is not a simple one. “I think it’s a very generic skill,” he said. “A part of the challenge is that no one has come from a background that covers all of those areas – AdTech, MarTech, CRM, data science, engineering and product.” He adds that it is far simpler to find talent in CRM, rather than in upstream functions.
“Businesses that are at a point of providing product recommendations, but the skills required to fine tune the offer and understand the changing behaviour to get better results, are in low supply,” agreed Aaron Fuller, General Manager – Member Engagement, Super Retail Group, Australia.
The discussion emphasised the importance of understanding the customer and their needs, noting that this knowledge can be leveraged to drive effective loyalty programs by understanding the customers’ journey, their needs, and engaging with them in a relevant way.
Never stop learning
The speakers highlighted the importance of ongoing learning and development in this space. Paula Thomas, Podcast Host, Let’s Talk Loyalty, echoed this sentiment and emphasised the value of learning from others in the industry. “I think there is a massive skills gap. Despite having a lot of marketing skills, the ability to walk into an organisation and deliver profitable behaviour change is something none of us have really been trained to do. Si I certainly feel an ongoing skills gap. That’s why I love to ask people about what they’re doing, because I think we have to learn from each other.”
Davies agreed, “Even after 29 years in this region, I’m still learning and developing my skills.”
A need for industry bodies
Fuller added that there is a need for loyalty industry organisations. “In Australia, the Australian Loyalty Association (ALA) does incredible work. Talking to clients – day in a day out – is the only real source of expertise and insights, and that’s where we have to get it from. The Loyalty Academy is the only global organisation running the CLMP (Certified Loyalty Marketing Professional). There are customised loyalty training courses for countries like South Africa, South America and Portugal. There is a Loyalty Science Lab (a university research lab) in the United States. There are Master’s programmes coming up but there’s just not nearly enough.”
