When a customer walks into a store and is immediately recognized by name and receives personalized preferential treatment, that person will almost always leave the store feeling happy, cared for, and ready to come back for more.
Now, imagine another scenario. That same customer visits the brand’s online store and receives a similarly rewarding experience including name recognition and personalized treatment based on purchase history and preferences. Such experiences, delivered regardless of channel, create a deeper level of engagement between the customer and the business resulting in increased trust, loyalty, and repeat business. Data indicates that investments in customer experience can help brands reap handsome rewards. Accenture's report states that 75% of consumers are more likely to buy from a company that recognizes them by name, recommends options based on past purchases, or knows their purchase history. Furthermore, a report by Deloitte highlights that 80% of customers are more likely to purchase from a company that offers personalized experiences.
Delivering this level of individualized engagement is not easy. Without a unified view of customer data across all channels, including online, offline, and social media, it is virtually impossible. The root cause is easily identified: data that is siloed and hard to access.
Achieving a united view of customers is not easy, but it’s possible by any brand willing to put in the effort. A well-known example of a company that has successfully gained a unified view of its customer data is Amazon.
By consolidating and integrating data from its multitude of channels—including website, mobile app, social media, and physical stores, Amazon creates a seamless, personalized experience for each customer. This has led to increased customer loyalty and sales, making Amazon one of the most successful companies in the world with 20 percent revenue growth year-on-year in 2020, reaching $386 billion.
Another success story involves a major global consumer electronics brand with a not uncommon problem. The company had a massive reservoir of audience data that was waiting to be tapped, but its customer data was spread across different departments, which collected data from a diversity of channels including email, social media, and phone calls. Thankfully, with a customer engagement solution that unifies all disparate customer data, they could bring all the customer data in one place, which gave them an overview of the customer behavior, purchase history, and preference.
Having unified its data, the electronics brand could identify its most valuable customers and target them with personalized offers and deals. These results reinforces the electronics brand’s experience: personalized customer engagement has led to an increase in cross-sells of 80 percent and an increase in conversion rate of 65 percent.
In conclusion, today’s high-performing brands will engage consumers as an individual, rather than as a member of the group. With unified data as a solid foundation, they’ll create value-rich, real-time experiences for each person – not for a large group that shares certain characteristics. This is the path to attribution at the segment-of-one level, leading to a highly personalized experience. Resul can empower brands to do this. With its integrated CDP, advanced analytics, and true omnichannel reach, it helps brands orchestrate sophisticated customer experiences across touch points, at scale. It optimizes every interaction in real time based on past and ongoing communications to deliver individualized customer journeys that maximize your ROI.
Schedule a demo today to see what Resulticks can do for your brand.
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