Consumer expectations are evolving — and they are impacting every step of the customer journey. From digital interactions to in-store experiences, brands must meet these expectations to not just earn a customer’s initial business, but to earn their lifelong loyalty. Now more than ever, brands need to deliver highly personalized, cross-channel engagement — and to do that, they need quality data.
Data, data everywhere
Every click, email open, search, purchase, and post a consumer makes creates data. The most successful retail marketers are the ones who not only use this data to make better marketing decisions but activate it in the most creative ways. Identifying what types of data are most valuable is one of the first steps in Connecting The Retail Dots.
First-party data involves using data from your own sources, such as your website, apps, social media, and more. Because it comes from your own sources, its quality is better assured than data coming from a third-party source. This data can be used for retargeting purposes and can help create a better picture of your customer.
Zero-party data is another type of data that should be heavily utilized in the retail space. Sourced directly from consumers, zero-party data is intentionally and proactively provided by a consumer with the expectation it will enhance their experience or that they will receive something in exchange (i.e., a value exchange). This data can be used to ensure every interaction your brand has with a customer directly reflects their preferences, meets their unique expectations, and speaks to their interests.
Simply collecting this data isn’t enough. Marketers must use it to create timely, personalized campaigns that connect with consumers on an individual level.
Resonating in the retail space
A successful retail marketing program will drive one key metric: customer loyalty. Specifically, emotional loyalty. With the right data backing your marketing initiatives, you can create more personal connections with your customers — but it will take more than a simple rewards program to develop it. Rather, you will need to:
- Go beyond points
Your customers’ entire activity history (beyond just purchase-based points) tells you who they are. Use these activities to drive more impactful experiences.
- Identify your most valuable customers
Every customer is important. But rewarding your best customers is more efficient, provides greater loyalty, and generates more ROI in the long run.
- Deliver the right reward in the right moment
Build even deeper loyalty by surprising customers with recognition, digital rewards, and physical goods at the times your data indicates they’ve earned it.
The strategies to inspire loyalty with the use of your data don’t stop there. In Connecting The Retail Dots, we take a deep dive into the whys, whats, and hows of taking charge of your data and delivering unique and impactful experiences. We even dive into how some of the world’s best brands are already making this a reality for their customers.
Chelsea Hollerud is a Digital Content Specialist at Cheetah Digital. Throughout her career, she has provided content support for nearly every area of enterprise business, including thought leadership, sales enablement, digital content, and more.