on 02 Apr, 2015.
Across the various conferences, seminars, whitepapers and articles that we subscribe to, a common theme is the power of the customer, and the importance of personalisation.
Customers now have more choice, and therefore an increasingly powerful position. As a result, retailers now have to work harder to impress.
In order to do this, we must follow the simple retail principles. Who is the customer? What do they like? What have they bought previously? And what are they likely to buy in the future?
In order to implement this, we do a lot of work under the bonnet to create what we call a Single Customer View. This is a collection of data on an individual customer, which we collate into one place, to understand everything about that individual.
Why do we do this? The answer is simple. We want to ensure that everything we do is relevant. This means that the customer gets the information that they want, as and when they want it. From the retailer’s point of view, it means that we don’t waste valuable time and effort serving unwanted or irrelevant marketing that is unlikely to yield good results.
A recent study of 600 digital marketers and e-commerce professionals has shown that less than one in five (18%) of companies use a single customer view for most of their marketing applications. In fact, 45% of respondents don’t use this at all.
As a results, companied are missing out on data, valuable data which can be used to optimise and personalise the customer experience. Currently, behavioural and transactional data are collected, however companies are consistently missing collateral data such as social, attitudinal, or gender/job related preferences.
This is all useful information, which doesn’t cost you anything extra. All you need to do is ensure that your infrastructure is capable of handling this data correctly, and that your digital experts are using this data to fine-tune your marketing, and ultimately increase your conversion.
If any of this sound interesting, or needs further explanation, feel free to give me a call.