Successful businesses must be customer-centric. Retail marketers know it’s important, but they’re confused about how to make it happen. This is understandable, considering some of the challenges they face. Retailers still have a myopic view of customers, and thus they're lacking answers to basic questions such as the following: Where is most revenue coming from? What are the challenges associated with generating repeat purchases from loyal customers? Where do we need improvements to our customer marketing, channels, products and services?
The heat is on retailers to become customer-centric. Customers have higher expectations than ever before, and competitors that reliably meet those expectations seize a reliable edge. The key is to put the customer at the center with cohesive data and purpose, starting at the top.
As ad technology (AdTech) and marketing technology (MarTech) veer ever closer, retail marketers are picturing the merged data payoff it could represent – helping to build stronger, more profitable customer relationship, ones that customers appreciate more, too. But there are some key points to consider in order to pull this relationship off successfully. Here are three of those points, each centered around being smart with data.
Converge, consolidate, unite … call it what you want, but ad technology (AdTech) and marketing technology (MarTech) are on an irreversible (some might say collision) course to merge data as a source for tracking, anticipating and building customer relationships. However, just because it has to happen doesn’t mean it’s going to be easy. There are…