Editor’s note: This article and interview were orchestrated by Zeta Global’s SVP of Customer Experience, David Schey. Connect with him and get more insights on LinkedIn.
An interview with Brendan Witcher, Principal Strategist, eBusiness & Channel Strategy, Forrester
Earlier this year we sat down with Brendan Witcher, principal strategist, eBusiness & Channel Strategy at Forrester to talk about retail trends at NRF. We recently checked back in with Brendan to see if retailers are making good on their promises when it comes to acquisition strategies in 2018.
Let’s recap the trends Brendan outlined at NRF…
- In 2017 – Personalization and omnichannel were key trends with retailers.
- In 2018 – Personalization and omnichannel are still big, but…maybe retailers don’t understand their customers well enough to personalize the experience or, maybe they don’t understand their business well enough to optimize a retail omnichannel strategy.
Brendan’s Advice for Retailers at NRF: “Focus on the “unsexy” work you haven’t gotten done to optimize your personalization and omnichannel programs.”
“Focus on the “unsexy” work you haven’t gotten done to optimize your personalization and omnichannel programs.”
We think retailers were listening. At Zeta, we’ve been hard at work with our retail clients all year helping them focus on optimizing personalization through their use of data. We have a phrase we use a lot around the water cooler here: “We know your customers, you just don’t have them yet!” Yes, it does sound a little out there, but it’s true.
How do we do it? We focus on people-based audience acquisition. We leverage customer signals, deterministic data and native artificial intelligence to deliver 1:1 personalization at scale. We target specific customers by identifying who you want to talk to, not who you think you want to talk to.
We think it’s pretty cool that a little after the mid-year mark, retailers are transforming their data programs from “unsexy” to “sexy” work. But, we wondered if Brendan is seeing the same pivot from the retailers he is talking to on a daily basis. Here’s what he had to say…
We asked Brendan if retailers are doing the work they set out to do, specifically are they:
- Finding value in their customer data?
- Capturing their data correctly to create better customer experiences?
He told us that retailers are making progress on the objectives they stated earlier in the year:
- To be more data-driven
- To engage with customers at the individual level
In doing so, he also said that new challenges have arisen that have slowed their progress, mainly:
- Cultural roadblocks
- Siloed organizational agendas
How do you get around that? Brendan suggests obtaining quick wins with data and showing how data-led marketing can have the greatest impact. He went on to say that some of the same marketers who are facing these retail omnichannel strategy challenges above are building the business case to have their organizations lean heavier on data—in both their strategic decision making and their tactical campaigns.
Brendan’s Keys for Success?
- Find and focus on the areas that have high impact on your customer.
- Make sure your organization is operationally set up to execute on the digital tools you have.
To learn more about how we can help you achieve personalization at scale through your data, contact us for a personalized demo.
Is your retail organization creating a journey map for both your brand and customer? If not, you may find yourself lost, looking for a new route. Listening and responding to client and prospect signals is the best way to correct course and reach your desired destination with consumers.
Data in Motion vs. Stuck in Standstill Traffic
Many retailers can find their customers when they visit locations on their brand maps such as blog entries and newsletters, but what insight can be gained outside of the brand’s messaging?
How can a consumer’s latest Internet search or comment on their favorite website or article inform you how and when to target with the best offer? Understanding and leveraging Data in Motion is the key.
Signal Data Makes the Path Clearer
Let’s look at the difference between leveraging customer signal data and using static brand interactions in a simple case study about a consumer named Lauren and her interaction with the Petco brand.
Insight Gained from Lauren’s Connected Identity Graph:
Petco is able to identify and leverage Lauren’s purchasing patterns across the various signal data collected using the following:
- Postal (demographic, credit, income, home ownership, transactions)
- Email Address
- Mobile (location, app usage)
- IP Address (household devices, channel, preference)
- Web Behavior (recent interests, recent intent, send time)
- Transaction (recent purchases, spending patterns)
Insight from Lauren’s Signal Data Across Channels:
- Postal: Lauren recently applied for a home mortgage.
- Mobile: She visited two stores last week.
- IP Address: Three devices were added to Lauren’s household in three months.
- Web Behavior: She browsed dog grooming content on four sites; she visited outdoor activity websites.
- Transaction: Her last purchase with Petco was five months ago (dog food); she increased spending on premium products.
Combining the identity graph with signal data gives Petco a true picture of what Lauren needs…and more! Now, Petco can target Lauren, and other consumers like her, with high end, personalized messaging and offers:
- Lauren’s interest in premium dog food may be heightened since she recently increased her spending on premium products.
- Dog Grooming may be top of mind based on her recent search activities.
- Utilizing cluster signal data, Petco can now identify many other consumers out there just like Lauren.
What does all of this mean for retailers?
- Improved creative assets that can speak directly to consumers’ needs.
- Greater awareness and brand affinity with consumers because they now see you as someone who understands their specific needs.
- Better messaging and ROI based on real-time needs and behavioral triggers.
- Measured and optimized performance as a result of potential levers.
To learn more about how the Zeta Data Cloud can help you unlock your omnichannel retail signal data, watch my complete keynote case study at eTail East:
You can also click here to find the complete deck presentation at eTail East. Connect with me on Linkedin or follow along here for the latest industry insights.
When it comes to customer relationship management, not all technology is created equal—especially when operating on an enterprise scale. The solution you ultimately choose will provide the foundation for understanding your customers and meeting their growing expectations. That, in turn, will determine the ROI of your marketing and success of your brand for years to come.
Diamonds in the Digital Rough
The marketing technology landscape is expanding at a terrific pace. Thousands of solutions provided by no fewer than 6,242 different vendors are available to today’s CMO—27% YoY that’s likely to continue.
Included in the flood of evolving technology are at least 200 customer relationship management solutions, including established providers and disruptive new startups. How does a marketing leader at a large business with an enormous audience chose the right one?
Key Considerations for Choosing an Enterprise CRM
Enterprises have some unique challenges in meeting the ever-changing expectations of today’s connected consumer. It’s one thing to recognize the value of personalized, relevant experiences—but delivering them to hundreds of thousands ,or even millions, of individuals around the world is a daunting task for the most capable CMO.
Choosing an enterprise CRM that enables you to serve 1:1 experiences on a massive scale can mean the difference between earning loyalty and being forgotten. When comparing your options, take special care to consider the following factors:
The key to understanding your customers as individuals, anticipating their needs, and engaging them in real-time lies in data.
Big data has been at CMOs’ top-of-mind for years now; finding ways to organize, interpret and act on the mountains of consumer information now available remains a high priority.
Almost every CRM has some amount of data analytics capabilities. But that can range from rudimentary web analytics to sophisticated deterministic data science.
Ideally, an enterprise CRM will provide access to a large pool of proprietary data that can be used to supplement and enhance your own first-party customer data. Enterprises often struggle with large silos of disparate data—a good CRM option also will be able to flexibly adapt and unify those scattered resources into a single view of your customers.
Today’s consumers are active on a broad selection of channels and devices at any given time. An effective enterprise CRM must be able to accumulate real-time signals from any input and translate them into thoughtful omnichannel responses.
Finally, a great enterprise CRM needs to be extremely secure when it comes to data and align to quickly-evolving social and regulatory privacy standards. Given the sheer volume of data a large organization handles and the sensitivity of the information within, enterprises can’t afford to take chances. Recent history is full of high-profile breaches that compromised corporate and customer data and tarnished brands—don’t let your marketing technology platform be your biggest vulnerability!
Automation is what enables an enterprise to take a powerful, relevant, personalized customer experience and scale it up to thousands or even millions of individuals around the world.
Most CRMs have some automation capability, many of them lack the capacity to constantly process and manage a compelling relationship with every customer. Seek out a provider that has the sophisticated AI technology needed to capture and interpret a flood of real-time customer signals and decide when, why and how to respond.
Most enterprises have an enormous tech environment that includes legacy systems, scattered databases, and third-party vendors. Even large organizations with robust IT teams find integrating new tools and platforms into their stack to be incredibly difficult.
An ideal CRM tool for enterprises is one that can flexibly adapt to your existing technology and data infrastructure. A quick onboarding process and the ability to unify customer data all in one place is a huge advantage in the perpetual battle for consumer attention and loyalty.
What the Experts Say
Shopping for the best CRM for your enterprise is an arduous process, but choosing the right one can quite literally determine the success of your company for the indefinite future. Fortunately, there’s no shortage of resources and expertise to pull from when selecting a solution that will bring the most value to your customers.
One such authority is the prestigious MarTech Breakthrough Awards, which recognizes leaders and innovators in the diverse and ever-changing world of marketing and advertising technology. This year, Zeta Global’s technology platform ZetaHub was awarded ‘Best CRM Solution for Enterprise’—standing out in a pool of over 2,000 nominees.
“The days of linear marketing are long gone, and multichannel marketing is now a necessity, but we find that many enterprise organizations are struggling with the challenge of managing this more complex customer journey,” said James Johnson, Managing Director at MarTech Breakthrough. “Zeta Global’s ZetaHub shines when it comes to enabling multichannel dialogue, empowering global brands to engage with customers and prospects across email, mobile, social, direct, and web. Congratulations to Zeta Global on its 2018 MarTech Breakthrough Award!”
Read the complete press release from MarTech Breakthrough here.
Click here to see Zeta’s announcement of the award.
Every day we work closely with our enterprise clients in Retail, Travel, Finance, Insurance, Media and beyond to better understand their customers and develop lasting 1:1 relationships. It’s not hyperbole: to see for yourself how our solution makes people-based marketing at scale possible, request a demo today.