An innovative tool to consolidate all the relevant data pointers pertaining to a customer from various data sources.
Successful and strategic implementation of CDP can help your company improve your ROI on marketing spends by 5X, leading to an increase in your overall revenues by 5-10% within a few months.
For retail business working on Omni-Channel model, a customer can be encouraged to use both online and offline platform using CDP. A customer that uses multiple channel for purchase is generate 130% better margins than a single channel customer. CDP can utilize online data for offline use and vice versa for providing a better omni channel purchase experience to the customers.
Studies suggests that providing the right coupon for the right customer at right time, leads to higher conversion rate and increase top line revenues for the firm. Knowing the customer better and curating offer basis one’s need leads to a better customer experience. Through CDP this can achieved in real time and seamless manner.
Through CDP, we can segment users into various buckets and design marketing activities, that are more relevant to the customers. When targeted marketing activity is performed, it leads to 5 times more ROI on the marketing spends. Company gets more revenue from less spend on marketing with smart utilization of CDP.
Retailer having a broad reach through offline stores can use CDP for optimizing the in-store product placements, creating relevant product combos, smart promotional campaigns and personalized customer experience for luxury goods. This directly leads to increase in average cart value and higher margins. Not to forget, a happy customer would certainly visit the store again.
Through CDP we can differentiate between new and old customers, thus creating communications in a manner that would lead to better customer loyalty and repeat purchases. CDP can also help design and modify a novel customer loyalty program that would ensure maximum benefit with minimum spend.
CDP can help collect all aspects of user activity over online platform. These data pointers can then be utilized to personalize one’s search results and the list of products displayed for the user in their homepage. With real time personalization of user page, a customer finds what he/she is looking for. This directly results in a 20-25% increase in the click through rate and 12-15% improvement in the conversion rate of the customer.
We work with retailers in providing retail optimization solutions that are tailor-made keeping their specific supply chain nuances. Whether you are a multi-format retail chain, apparels or a grocery store our AI/ML driven solutions will add to your bottom-line and top line while at the same time improving customer satisfaction.