3 Challenges to Creating a Meaningful, Actionable Data Environment
The challenges facing today’s marketers are far more complex than deciding whether to promote a 20% coupon or free shipping. Gone are the days when simple segmentation and the basic set of automated messages were enough to satisfy your shoppers and bring in the sales.
Consumers now demand personalized experiences that engage their constantly evolving shopping habits. Retailers feel the pressure to offer a dynamic shopping experience across multiple devices and channels.
There are three challenges that seem to be shared among most retailers:
- Collecting, storing, and analyzing continuously rising data volumes.
- Converting data into actionable intelligence.
- Using this intelligence to engage with contacts according to where they are in the customer lifecycle.
While these tasks can seem overwhelming, the good news is that marketing automation platforms have evolved alongside these more nuanced consumer behavioral changes.
Smart Insight, part of the Emarsys B2C Marketing Cloud, offers retailers a way to build unified profiles for consumers across devices, channels, and platforms. This data is used to drive predictive models and showcase behavioral trends that retailers can use to overcome the challenges outlined above.
Sounds like a bold claim? Here are a few examples of how customers can use Smart Insight to improve analysis and targeting.
- Performance Check-Ins: Gain actionable insights into how customers are converting at each stage of the customer lifecycle.
- Best Sellers: Understand which products are top-performers and which categories are connecting with your best shoppers and first-time buyers.
- Lifetime Value: Analyze historical spend and model future value on the customer level, across the customer lifecycle.
- Defecting Buyers: Anticipate when customers start to disengage from your marketing and learn what it will take to win them back.
- Loyalty Programs: Foster repeat purchase behavior and brand loyalty by understanding your post-purchase behavioral metrics.
- Product Alerts: Direct new item announcements, back-in-stock alerts, and low stock messages to the right shoppers at the right time.
Marketing will never be without its challenges, and marketers must constantly evaluate their technological ecosystem to ensure they are using platforms effectively and making the most of their data. Doing so will lead to a more enriching customer experience and help to increase revenue.