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BullRun-FROM
PERSONALIZATIONTO
CUSTOMIZATION:HARNESSING
D
ATA
AND
ANALYTICS
TO
FOSTERBRAND
LOVESPONSORED
BYSPECIAL
REPORTIfti
Digital-INTRODUCTIONForthe
sake
of
mental
convenience,people
often
talkabout“personalization”as
if
it’s
a
monolithicconcept,when
the
truthis
that
there
are
many
flavors
ofpersonalizationavailable
toretailers.That’s
actuallygood
news
forbrands,
whichcan
makestrategic
choicestoleverage
different
vehiclesfor
personalizationdependingon
theirbusiness
model,
customer
base
andspecific
needs.
Insome
cases
theycan
takepersonalizationall
thewaytocustomization,
which
notonly
gives
customers
greater
control
over
theirpurchasesbutalso
reveals
significantdata
thatbrands
can
analyzeto
create
even
sharperpersonalizationefforts
andboost
futuresales.“While
customizationallowscustomers
to
makeproductalterations
at
thetransaction
point,
personalizationis
aholisticapproach,”said
BenjaminBond,Principal
in
the
ConsumerPractice
at
Kearney
in
aninterview
with
RetailTouchPoints.
“It
spansthe
entirecustomer
journey,
intelligently
anticipating
needs
and
delivering
tailoredexperiences
even
before
the
customer
articulates
them.”This
special
report
will
examine
thelatest
personalizationand
customizationtrends,
including:••Expandingrolesfor
generative
AI
in
executingpersonalizationat
keypoints
in
theshopper
journey;The
fast-growingimportance
of
zero-partyand
first-party
datatosupport
personalizationefforts,particularlyas
third-party
cookies
deprecate;
and•Best
practices
formaximizing
personalization.From
Personalization
to
Customization:
Harnessing
Data
and
Analytics
to
Foster
Brand
Love2LimitlessVisions-GENERATIVE
AI
SUPERCHARGES
PERSONALIZATION
CAMPAIGNSGenerativeAI,
this
year’shottest
technology,hasquicklybecome
a
critical
element
inbrands’
personalizationefforts,
in
largepart
because
it
helpsmarketersscale
up
programs
quickly
andcost-effectively.“Generative
AI
is
the
driving
force
behindadvanced
personalization,transformingraw
data
intoactionableinsights,”
said
Bond.
“It’s
about
predictingcustomer
needs
and
makinginformed,nuanceddecisions
todeliveronthe
promise
ofa
truly
tailoredshoppingexperience.”AI
and
machine
learning
havebeen
critical
topersonalizationefforts
by
GNC.
“We
know
that
in
the
health
andwellness
category,offering
customizedproducts
todeliverholistic
healthsolutions
is
paramount,”said
ScottSaeger,
former
CIO
ofGNCina
previousinterview
with
Retail
TouchPoints.“When
a
customer
comes
to,
do
theyfeelthatGNCunderstands
who
they
areas
a
consumer
and
there’snotjust
this
barrage
ofadsand
recommendations
that
mean
nothing
to
them?”Saeger
asked.
“In
the
beginningof
the
year,a
lotofpeople
want
to
trimdown
andlose
theThanksgiving
andChristmasweight,so
if
all
I’m
doingisthrowing
proteinwhey
atyou,
that’sreally
not
the
experience
youwant.
Being
hyper-personalized
isaboutmaking
the
right
recommendations
at
the
right
time.”GNCalso
supports
personalizationvia
a
partnership
with
Ujet.
Using
machine
learning
andAI,
thesolution
givesGNC’s
customer
service
agents
pertinent
informationabout
customers
thatcan
go
wellbeyond
checkingon
anorder’sstatus.
GNCuses
thesolution
to
quickly
provide
relevantadvice,
suchas
thebest
post-workoutrecoverydrink,
to
help
ensureevery
customer
hasa
positive
experienceno
matter
what
theirquery
is.From
Personalization
to
Customization:
Harnessing
Data
and
Analytics
to
Foster
Brand
Love3sebra-WHY
WE
PUT
PRODUCT
FIT
AT
THECENTER
OF
PERSONALIZATIONByBrent
Hollowell,
CMO
and
GM
NorthAmerica,VolumentalResearchshowsthat78%ofconsumerswanttobe
delightedbygreatpersonalizedexperiences,butonly18%sayretailcompaniesare
currentlymeetingtheseexpectations.We
believethatfittingtechnology,orFitTech,isapowerfultoolforretailersto
meetthegrowingdemandforpersonalized,customizedconsumerexperiences.Know
Your
CustomerBrAt82-Volumental
specializesinfittingtechnology,orFitTech.We
scanthefeetofshoeshoppersin3D,andthenwematchthatdatawithconsumerpurchasebehaviorto
givetailoredrecommendations.Essentiallyweoffer
fitasaserviceasawayforbrandsandretailersto
deliverexcellentcustomerexperiences.Withover45
millionfootscanscollected,we'veamassedtheworld'slargestcollectionofsuchdata.Retailerscandeploytheirdataacrossin-store,omnichannelandecommerceoperations.Thisaccessibilityempowersretailersto
provideatailoredexperienceto
eachindividualcustomerbysuggestingthemost
suitablefootwearmodelsandsizesbasedontheinsightswe'vegathered.Atthecoreofthiscapabilityliesfirst-partydata.Of
course,whenitcomesto
utilizingdataforpersonalization,privacyandconsentare
critical.Whatwe'vefoundisthatshopperswillinglygrantconsentto
sharetheirinformationbecausetheysee
theclearvalueitbrings.Inphysicalstores,ourscannerspromptusersto
optinbyprovidingtheiremailaddress,andremarkably,ouremailcapturerateaverages71%,andforthehighestperformingretailers,itexceeds90%.Whenretailersdemonstratetheirabilityto
streamlinethebuyingprocess,customersare
morethanwillingto
reciprocatewiththeirtrustandengagement.From
Personalization
to
Customization:
Harnessing
Data
and
Analytics
to
Foster
Brand
Love4The
Potential
of
Generative
AIGenerativeAIhasthepotentialto
enhancehowwecommunicateproductrecommendationsto
shoppers.Imagineascenariowherearetailercanprovideamoredetailedexplanationbehindarecommendation.Forinstance,insteadofsimplysuggestingashoeinsize91⁄2
overasize10,theycouldalsoclarifywhythischoicewasmade.Thisexplanationcouldbe
rootedinfactorslike
thecustomer'sheight,weightandintendedusefortheshoe.Dependingonusage,generativeAIcouldeventakeitastepfurtherbyconsideringyouruniquerunningstyle
orthetype
ofjobyouhave.Ultimately,theaimisto
giveshoppersmoreconfidence,makingsuretheytrustboththerecommendedsizeandthechosenproduct.BackwhenIworkedatafootwearcompany,weused
to
sendshoesto
fittesters,butwedidn'thaveaclueabouttheiruniquefootshapes.Theresultswereallovertheplaceintermsofhowwelltheshoesfit.
Butnowweactuallyscantheirfeet,so
whenwegettheirfeedback,weknowwhichshoeworkedforthemandwhichdidn't,andwhy.Inthefuture,retailerscouldcombineallthisfootscandatato
getahandleonwhatalltheircustomers'feetlooklike,whichcouldseriouslyimprovehowtheymanagetheirinventory.Theymightrealize,"Hey,wethoughtweneededonly13%ofsize91⁄2
forthisshoe,butitturnsoutweneed20%."
So
theycantweakinventorybasedonthesescansinsteadofusinghistoricalsalesnumbersonly,whichdon’treallycapturemissedsalesopportunities.Andwithallthisdatainhand,retailerscanhavebetterconversationswiththeirmanufacturers.Iftheyseethatalotofpeopleare
into
differentwidthsofshoes,
theycouldsuggestsomethinglike,"Insteadofmakingyetanothercolorforyoursixth-orseventh-bestperformingshoe,whynotoffer
morewidthsforyourmostpopularstyles?"
It'salmostlike
personalizationinreverse—we'remakingthestore'sinventorymatchwhatcustomers'feetare
reallylike.Attheendoftheday,
customizationisaboutbringingretailersandbuyersclosertogether.Whenweusedeepdataintherightway,
wecanhelpretailersdeliverthosefantasticexperiencesthatshopperswantfromthem.LearnmoreaboutVolumentalat/.From
Personalization
to
Customization:
Harnessing
Data
and
Analytics
to
Foster
Brand
Love5-CAN
ZERO-
AND
FIRST-PARTY
SOURCES
FILLPERSONALIZATION’S
DATA
REQUIREMENTS?Because
personalizationgoes
beyond
basic
customer
segmentationandpersona-building
efforts,
it
requiresgranular
data
at
the
individuallevel.
However,withthe
comingdeprecationofthird-party
cookies,
one
of
themost
commonsourcesof
consumer
browsing
and
purchasing
behavior,brands
are
turning
to
zero-
and
first-party
data.Zero-party
dataisinformationconsumersintentionally
sharewith
a
brand,
e.g.
whentakinga
quiz,whilefirst-partydatais
collected
by
thebrandas
a
result
of
interactionswith
its
own
customers.Making
greateruse
of
zero-
andfirst-partydataalso
helpssolve
one
of
thetrickiest
challengespersonalizationpresents:finding
(but
not
crossing)
the
line
ofpersonal
privacy.Consumerswant
the
relevance
and
recognitionthatpersonalizationefforts
offer,buttheyalso
don’twant
tofeel
creeped
outor
spied
on.“Utilizing
zero-
andfirst-partydata
seamlessly
aligns
value
with
privacy,”
saidKearney’sBond.
“Customerswillingly
share
informationwhen
transparencyandbenefits
intersect,
fostering
trust
and
paving
the
pathforrespectful
personalization.”From
Personalization
to
Customization:
Harnessing
Data
and
Analytics
to
Foster
Brand
Love6ForVolumental,
whichprovidesfootwear
fit
technology
based
on
scans
ofcustomers’
feet,
that
data-for-valueexchangeis
clearly
delineated.“The
hardest
thing
to
getoutofa
customer
[ina
storeenvironment]is
their
emailaddress,”
said
Brent
Hollowell,
CMO
at
Volumental
in
aninterview
with
Retail
TouchPoints.
“But
when
youshowsomeone
a
cool
scan
andask
ifyoucan
emailit
tothem,
95out
of
100
will
agree,
and
thatgets
them
into
the[retailer’s]loyalty
matrix.
We’veseen
people
go
back
to
[that
scan]
five
or
sixtimesovera
six-month
period.”In-store
technology
can
also
serve
as
a
stealthybutacceptablemethod
for
gatheringshopper
data.Forexample,digital
mannequins
from
Outformcan
be
dressed
ina
varietyof
clothingstyles
andcolors
thatcustomers
controlby
scanninga
QRcode,
providingin-store
insightsinto
whatshoppers
are
interested
inseeingand
potentiallypurchasing.The
mannequintechnology
passively
records
data
including
dwell
time,
number
ofsessions
andcontentpreferences.Because
the
digital
mannequincan
directly
link
to
retailers’unifiedcommerceplatforms,
executivesget
“a
real-timeview
of
whatshoppers
haveconsidered
and
purchased,”said
Simon
Hathaway,
Group
Managing
Director,EMEA
atOutform
in
anearlier
interviewwith
Retail
TouchPoints.
“They
canthen
retargetacrossother
onlinechannelswith
tailored
content
ata
later
time,usingA/B
testing
to
refine
theinsightsfurther.”“Utilizing
zero-
and
first-party
data
seamlessly
alignsvalue
with
privacy.
Customers
willingly
share
informationwhen
transparency
and
benefits
intersect,
fosteringtrust
and
paving
the
path
for
respectful
personalization.”—Benjamin
Bond,
KearneyFrom
Personalization
to
Customization:
Harnessing
Data
and
Analytics
to
Foster
Brand
Love7Antonio-PERSONALIZATION
AND
CUSTOMIZATION
BEST
PRACTICESPersonalization
and
customizationefforts
offer
bigpayoffs
to
retailers
andbrands,
and
there
are
manyways
tomaximizethese
campaigns’impact:•Seek
multiple
sources
of
customer
data:
One
of
thebest
ways
for
a
retailer
to
gatherfirst-partydatais
to
operatea
loyalty
program.Butevenfor
those
thatdon’t,
there
are
othersourcesofcustomerdata:
Tanger
Outletsrecentlyrevamped
its
loyalty
program
intoa
tier-based
subscriptionmodelandis
usinga
Coniqsolution
to
share
dataabout
customer
preferences,patterns
andspend
with
itsretailtenants.
DoorDash’slatest
appupgradeincludes
an
integrated
rewards
program
thatallowsmerchants
in
theU.S.,
Canada,
Australia
andNew
Zealand
to
create
programsfor
theirmost
loyalcustomers.While
the
programwasn’t
set
up
to
integratewith
restaurants’
loyalty
programs
atitsdebut,
that’sa
likely
future
update.•Align
personalization
effortswith
customer
lifetime
value
(CLV)
data:
Eco-friendlyhaircarebrandDavines,
dealingwiththeloss
ofin-person
contact
broughton
by
COVID,
workedwith
Coveotechnology
to
generatepersonalizedproduct
recommendationsbased
onthe
individualshopper’spreviousshoppingjourneys,
onlinebehaviors
and
haircarepreferences.
The
technology
also
allowedDavines
tofactor
in
CLV,
according
to
BrianMcGlynn,
VP
of
Ecommerce
atCoveo
in
an
earlierinterviewwithRetail
TouchPoints:
“For
example,
wheredo
wesee
users
that
mightbe
coming
in
andlookingto
experiment?
Thatmaybe
signalsa
long-term
customer,
and
wecan
apply
automatic
discounting,or
use
badging,search
and
promotions
to
enticesomebody
tobecome
a
customer,
tosampletheproducts
or
tobe
more
involved
in
thispart.”From
Personalization
to
Customization:
Harnessing
Data
and
Analytics
to
Foster
Brand
Love8••Personalization
can
bea
competitive
differentiator
for
small-
and
mid-size
retailers:Loop
Neighborhood,
a
120-storeconvenience
chain
in
California,used
the
Algonomyplatform
toengagecustomers
in
real
timewith
contextually
relevantmessages
based
on
theirbehavior
andtransaction
history.
Theretailercan
promoteweekly
offers,
embed
a
customer’s
savings
dashboard,distributepersonalizednewslettersa
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