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The Why and How of building a Single View of Customer

Written by Maavrus

October 21, 2022

Customer

Hi. Welcome to Expert Talks at Maavrus, in this video, we talk about a single view of customers and some of the ways that retailers can compare. But before that, let’s talk about a few ground reinforcements as we speak.

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Today, over 25% of global fashion sales are over eCommerce and upwards of 60% of in-store sales are digitally inspired. Customers today expect the same level of information access, personalized recommendations, and frictionless shopping experience in a physical store, similar to what they are used to over eCommerce media.

Secondly, data privacy laws and regulations are getting increasingly stringent. Apple and Android have banned cross-app tracking. Google Chrome from next year is going to stop third-party cookies, which essentially means that data management platforms and third-party targeted advertising is going to be increasingly ineffective. And hence retailers will need to adopt strategies to build rich first-party data about their customers.

Thirdly, the level of digital data exhaust that is available for every purchase on an eCommerce medium is 1000 times more than when a customer purchases in-store. And so again, how many retailers will need to implement initiatives to gather more data around the shopping journeys of customers in a physical store?

So let’s talk of a few ways that retailers can get there. Number one is implementing a customer loyalty program. While I understand that the customer’s stickiness and connection with the brand is a combination of the range, the product quality, the pricing, and the shopping experience that the brand provides, nevertheless, a customer loyalty program is a great way of incentivizing the customer to opt-in and share data related to their demographics and shopping patterns.

Secondly, using a combination of IoT technologies and mobile apps or PWAs, retailers can enable customers to digitally engage in stores. So today, customers could use their mobile to scan product tax and understand the product, read reviews and see comments from their friends and influencers. They could use the mobile to look for missing sizes and order seamlessly online.

They could use the mobile for a self-checkout and act on their chart, or remove it from their cart and complete the billing. They could also engage with gamification in stores to unlock offers and all the while creating a lot of rich data about their shopping preferences and journey in-store. Using intelligent marketing platforms, retailers could also understand the type of content, communication triggers, and engagement mediums with which each unique customer best engages and responds to.

Lastly, retailers could implement feedback management systems like Net, Promoter Score, and customer support tools like Intelligent Chatbots to gather information about customers’ feedback, complaints, and preferences. So. Using a combination of all this data that a retailer collects. Which is the browsing behavior of their customers. The products that they purchased. Their feedback. The complaints that they register on the customer support platform.

And the response that they receive for various campaigns. Retailers can create a single view of customers. Which is then useful for them to engage in a very relevant and personalized fashion with each customer. More about this in the next video. I hope you found this video insightful. Please do follow us at maavrus.com. Thank you.

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