Is your customer data impeding your personalization efforts?
Personalize every shopper experience with Retail Pro Prism
94% Of businesses say personalization is critical to their engagement efforts, but only 25% of companies are using their data ‘to a great extent’ to do it effectively, according to a poll from Accenture. For many, the customer data they capture from each channel is divorced from the whole picture and actually impedes personalization efforts instead of driving them.
Are you among the 25%? Or are you just sitting idly on gigs and gigs of tangled data from unintegrated channels – while your competitors pillage your customer base with their tailored offers?
What separates the winners from the losers is the use of platform technology tools to streamline critical information from various channels into a single, unified view – and then leveraging that data to build stronger personalization strategies that capture customers.
Recognize Your Best Customers
Does your data clearly reveal your best customers? Or is unintegrated data misleading you with duplicate views of the same customer’s activity across channels and devices?
Cross-platform technology tools, like Retail Pro, give retailers complete visibility into all of their customer data across every channel, so you can recognize your best customers – the ones who shop much, shop frequently, and shop across channels – as one shopper and not a discrete, nameless instance of transactional data.
Turn Ambivalent Shoppers into Loyal Fans
With ambivalent customers, personalization is a critical way to generate an uptick in completed purchases. Connect the dots between your infrequent shoppers’ purchases and use that data to send personalized offers that anticipate their needs.
Vera Bradley targets its quilt-loving customers with offers tailored from their particular purchase history data. According to Women’s Wear Daily, the company generated a 275% increase in conversions through their personalization initiative, while sending 63% fewer emails. An accurate view of purchase behavior is a critical driver for personalization.
Convert the Almost-Customers
What about the shoppers who are almost customers and who have no previous purchase history data to draw from? “Long before customers actually become customers, they’re searching for things; they’re clicking on certain key words, they’re viewing different products,” said Constellation Research founder, Ray Wang. “Everything that happens during those visits is trackable and very telling.”
UK luxury jewelry retailers, Astley Clarke, is using data from tracked visitor behaviors to personalize with their favorite colors, gemstones, and metals – and saw a 60% increase in site conversion rate. So don’t just collect data; act on it! Infuse that data into personalized offers to nurture your almost-customers, and watch your conversions rise.
Personalize the In-store Experience
E-retailers are especially adept at closely monitoring shoppers’ online behaviors and making relevant recommendations – but brick-and-mortars are picking up the pace. Retailers are arming their sales associates with tools like the natively mobile Retail Pro Prism® so they can personalize their customer’s experience anywhere on the sales floor. Using your customer’s data from purchases and behavior across channels, sales associates can quickly get up-to-speed on your customer’s current needs and can hit home with their upsell and cross sell recommendations.
Total view of the customer is the necessary foundation for all your critical personalization strategies. The platform technology unifies all your data to give you complete visibility and a single, unsplintered view. With this kind of coherency, you can ensure efficient execution of your personalization efforts and capture every customer.
As published in Retail Systems magazine.
