Deliver the most impactful message to drive traffic, convert sales, and build customer loyalty

 

The most effective marketing strategies deliver the right message to the right audience in the right place at the right time to drive traffic, build relationships, convert sales, and build customer loyalty.

Understanding your customer lifecycle stages can help target content and deliver a personalized shopping experience to your prospects and customers.

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In this article, we’ll look at the different customer lifecycle stages and how you can optimize your shopping experience:

Define your customer lifecycle stages

The first step is to review your buyer’s journey and define the various lifecycle stages, which may vary slightly depending on your industry and business model. In general, all customers go through the following: the awareness stage, the consideration stage, the decision stage, and the retention stage.

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Apply personalization to customer lifecycle stages

Using a marketing personalization strategy, you can deliver the most relevant content and offers to each customer based on their lifecycle stages:

Awareness stage

Prospects at this stage are searching for a solution to their challenges and may not yet know about your brand.

Based on their browsing behaviors, such as clicking through to your website while performing a search on a particular keyword or reading a few articles on a particular topic on your website, you can recommend more relevant content to build trust and establish brand awareness.

You can also entice visitors to sign up for a lead magnet so that you can capture their information and build a 360-degree customer profile, which will allow you to further understand their preferences, behaviors, and needs for future personalized interactions.

Consideration stage

At the consideration stage, prospects are evaluating the different solution categories for their problems.

You can personalize the website experience to focus on content designed for this stage, such as by providing the pros and cons of each solution category.

They’re also likely to be on your email list, so you can send them personalized emails with links to such content or create a custom audience for your social media ads to promote these links.

Decision/purchase stage

Your prospects have decided on a solution category and they’re deciding who to purchase from.

They have probably visited your website a few times, viewed the sales pages, and researched about your products or services.

Send personalized emails or recommend website content designed for this stage. For instance, you could make use of demo videos, case studies, and testimonials.

You can send cart abandonment emails and include a special offer to entice them to take action.

Leverage pre-sale support, such as live chat, messenger app, or searchable knowledge base, to answer questions, address objections, and deliver a personalized customer experience that will help increase conversion.

Retention/advocacy stage

After your customers have made the purchase, continue to offer a personalized experience to build loyalty, entice them to make recurring purchases, and tell others about your products or services.

You can send personalized emails to share customer-exclusive content, perhaps an email on the different ways of using the products they have purchased, or recommendations and special offers on related and relevant products.

You can also personalize post-sale support by associating customers’ profiles to the products they have purchased so that you can direct them to the most appropriate resources when they log onto their accounts or get in touch with your customer service department.

Customer database: the foundation of effective personalization

A robust customer database is the foundation of an effective personalized experience appropriate for each stage of the customer’s journey.

Our data management platform (DMP) allows you to centralize your omnichannel customer data and organize the information in real-time so you can deliver the most relevant content to your prospects and customers based on their latest interactions with your brand without missing a beat.

GDPR helps increase transparency and trust. Here’s what you need to know to stay compliant

For online marketers, General Data Protection Regulation (GDPR) has been creating quite a stir.

This new EU law, which will go into effect on May 25, 2018, is designed to give individuals more control over their personal data.

It affects how companies gather and utilize information from their website visitors, prospects, and customers.

In short, marketers aren’t allowed to collect, store, or use the personal data of any European Union (EU) citizen without an explicit consent.

The key areas covered by GDPR include breach notifications, right to access, right to be forgotten, data portability, privacy by design, and the appointment of a data protection officer.

GDPR In the age of personalization

What does GDPR mean for marketers who use a data-driven approach and personalization technologies in their marketing strategies?

Here are a few critical GDPR concepts you need to know when collecting information and obtaining consent:

Legitimate interest

You don’t need permission to obtain or use personal data when there’s legitimate interest behind the request for the information. For example:

  • When a visitor comes to your website and you need to present personalized offers so that you can market to them efficiently.
  • When a shopper is making a purchase and is expected to provide relevant information to complete the transaction.

Permission required for everything else

You can only collect data without explicit consent for the “main action” that visitors are expected to accomplish by providing their information. For anything else, you need permission.

For example, when a customer makes a purchase on your website, you don’t need consent to get the information required to complete the transaction. However, you do need permission if you want to add them to your email list or obtain additional information to personalize marketing messages in the future.

Individual rights

GDPR covers several individual rights, including the right to access, the right to object, and the right to erase.

Under the right to object, individuals can request a company to permanently stop all permission-based marketing and personalized communications. Under the right to erase, individuals can ask to have all their data deleted and be treated as a new user whenever they visit your site. This implies, that on their next visit, they will not see any personalized content.

Make GDPR work for you

GDPR helps increase transparency, which will ultimately help you cultivate more trust with consumers.

Most consumers appreciate personalized content and they’re willing to provide their information to the business that they trust.

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Becoming GDPR-compliant offers an opportunity to clean up your database and obtain the necessary re-permissions.

The process will help you better utilize the existing GDPR-compliant information to segment your audience, create highly targeted groups, and distribute personalized content.

Your liability increases as you collect more data. You should get clear on your personalization strategy and only ask for data that is necessary for effectively communicating with your customers and serving them better.

In addition, ensure that you’re storing the data in a secured centralized customer database so that you can manage the safety of your customer data while leveraging them effectively for your marketing initiatives.

How to increase the quality of your customer data for effective personalized marketing

Marketing personalization has become an indispensable strategy for retailers who aim to increase sales and improve customer loyalty through the use of targeted content and offers.

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While having the right technology is important, the foundation for implementing an effective personalization strategy is the quality of your customer data.

Without accurate information, you won’t be able to deliver targeted content in the right place at the right time to the right audience.

How to clean up your customer database for effective personalized marketing

It’s important that you regularly clean up your database and audit the sources from which you collect the information to ensure that the customer data is supporting your marketing personalization strategy:

Review web forms

If you’re generating leads by using web forms, ensure that you’re collecting relevant information that helps in targeting your audience effectively.

Consider whether you’re asking for the right kind of data at the right level of detail. Gathering too few details doesn’t allow you to effectively segment your audience while requesting too much information can cause form abandonment.

Audit data fields

Duplicate fields or repetitive information in your customer database can cause errors and confusion.

Ensure that the fields in your customer data management system are set up correctly so that data from web forms, lead generation mechanisms (from your website, social media, or messaging apps), and eCommerce platform is categorized and collated correctly to support your personalized marketing campaigns.

Refine segmentation

Audience segmentation isn’t “set it and forget it.”

Revisit the way you’re segmenting your audience periodically to ensure that it’s supporting your overall marketing strategy.

You can also enhance audience segmentation with the information you gather during the user-interaction sessions with your brand. This includes the products they’re interested in based on their browsing behavior and the questions they ask during a live chat session.

Set up single customer view

To effectively collect and utilize all the available customer data, you need to create a 360-degree customer profile so that the information can be stored in and accessed from a centralized location.

A single customer view allows you to gather relevant customer data and effectively leverage the information to deliver a customer-centric experience through personalization.

Review analytics

There are many different ways to deliver personalized content and offers. Are you leveraging the right customer data to form your strategy?

The best way to find out is to review your analytics and see if your personalization strategy has been effective in driving traffic and generating sales.

If the metrics aren’t meeting your expectations, you’ll have to adjust and test your personalization rules to ensure that you’re using your customer data in a way that helps deliver the most effective content and offers.

Build a solid foundation with a robust customer data management system

After you put in the work to clean up your customer data, ensure that it’s managed and utilized in a way that will help you implement personalization marketing effectively.

A robust customer data management system has become indispensable for marketers who want to use personalization to increase the effectiveness of their omnichannel marketing initiatives.

Request a demo to see how our customer data management system can help you derive customer intelligence and actionable insights so you can make data-driven business decisions and achieve your marketing goals.

 

Making purchasing decisions for a store or retail business is a complicated proposition. The decision-making becomes especially complex when you are trying to determine which products deserve permanent shelf space on your store floor; and which need to be discounted or sent back to the warehouse to make room for new inventory. It can also be difficult to know the answer to sourcing questions such as when to respond to trends, how much to purchase of a specific item and what price-points to sell at for maximum profitability. As a result, an increasing number of retailers are relying on predictive analytics to make more informed purchasing decisions. In fact, according to Martech Advisor, 57 percent of B2B marketers said predictive analytics was their “primary tool” for 2017.

Consider the following to learn more about how predictive analytics are helping companies to maximize sales and to make the most of their inventory budgets.

Determine Top-Performing Categories

Before a retailer can begin using predictive analytics to make better purchasing decisions, they have to determine the top-performing categories in their existing inventory. These can be found by collecting data on factors such including: sales numbers their POS system, consumer engagement with product images in specific categories and high-traffic areas on the company’s website. From here, a retailer can determine which categories are the most profitable, as well as what categories could be expanded to increase future sales.

Forecast Future Seasonal Inventory

Once a retailer knows where to expand their existing inventory, it is time to measure seasonal sales from past years against current industry trends to forecast seasonal sales. This helps determine how large of an order to place for a specific item, as well as where to take a well-calculated risk with a new trend or category. Targeted purchasing recommendations can be derived from this information, so retailers can order only what they need, when they need it – thus boosting seasonal sales and reducing the risk of end-of-the-season discounting.

 Adjust Strategy Where Necessary  

The capabilities of predictive analytics don’t stop once a retailer rolls out their new inventory. Analytics-based software monitors and reports on sales performance, so retailers can keep track of which seasonal inventory categories are the most successful and make modifications to their orders whenever necessary. This means that only the best-selling merchandise gets a place on the show floor. Since NectarOM uses the “Test and Learn” method, we are able to quickly respond to sales activity, so that clients can adapt their purchasing strategy in order to augment ROI.

Keeping Abreast of Trends 

It is essential for retailers to utilize predictive analytics when making seasonal purchasing decisions to remain competitive. In fact, Martech Advisor reports that 82 percent of B2B companies used predictive analytics in last year – and of the companies who did not, 67 percent intend to implement predictive analytics in 2018. It is not only important for retailers to have access to the consumer data, but also to have data-based forecasting software which enables them to quickly respond to industry trends and customer behavior. At NectarOM, we provide clients with software with real-time reporting capabilities that clearly outline actionable recommendations – so they can amplify seasonal sales and adjust to changing consumer preferences.

Increase customer satisfaction and conversion with conversational marketing

Live chat and messaging apps have become an integral part of any omni-channel customer service strategy.

Customers value the ability to get answers when and where they want and companies are improving customer satisfaction and conversion rate thanks to the capability of providing real-time responses.

One study found that 38% of customers said they have made a purchase due to a good live chat session. Live chat assistance has also been noted for helping to decrease cart abandonment by up to 30%, which in turn lead to an increase in sales.

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The key to getting the most out of live chat or messaging apps is to deliver a personalized experience tailored to each customer with conversational selling.

One-to-one conversations: the most effective way to convert

Remember the good ol’ days, before lead generation forms and email marketing, when people made sales solely by talking to other people!

With the help of advanced marketing technologies, it’s now possible to have one-on-one conversations with a large number of prospects and customers simultaneously and deliver a highly personalized experience in a way that’s most convenient.

This is often called “conversational marketing” – a process of having real-time, one-on-one conversations to capture, qualify, and connect with your best leads anytime and anywhere.

How to optimize conversational marketing

At the heart of conversational selling is a customer-driven approach that focuses on one-on-one interactions.

With the aid of technology, marketers can scale up these personalized interactions such that one employee can manage multiple, concurrent one-to-one conversations.

Here are some characteristics of conversational marketing to leverage:

Real-time interactions and fast responses

Conversational marketing is effective because customers can get the assistance they need right away.

With the combination of chatbot and live agents, you can effectively provide customers with the most relevant information as quickly as possible.

Chatbots can be programmed to respond to specific questions while triaging more complex requests so that a live agent can step in to assist promptly.

Customer-centric engagements

You don’t convert customers only by collecting leads. You make sales when you engage prospects in a dialog to understand what they need and offer a solution.

Conversational selling is effective because it focuses on having a two-way conversation so that you can deliver the most relevant information or solution based on the context of the interactions.

Personalized conversations

These one-to-one conversations are contextual and informed by a customer’s past interactions with your brand.

Even if you’re talking to a lead for the first time, you can add a personal touch by getting insights from their browsing history, the page on which they’re initiating the contact, or their locations based on IP addresses.

Customer insights

You can glean customer insights and collect additional information to enrich existing customer profiles through conversational marketing.

For example, when you ask a customer if he wants to be notified when there’s news about a certain product category, you get information on the kind of items they’re interested in to inform your segmentation and marketing efforts.

The information gathered through these conversations can help you get a more in-depth understanding of your customers so that you can fine-tune your sales and marketing strategies.

The key to seamless customer experience

Conversational marketing helps deliver seamless customer experience and facilitates prospects’ progression down the purchasing path.

A 360-degree customer profile is the key to success for this marketing strategy.

This single customer view allows your team to deliver an outstanding purchasing experience based on all the interactions a customer has had with your brand so you can maximize the use of technologies such as chat and messaging apps to optimize your ROI.

Making purchasing decisions for a store or retail business is a complicated proposition. The decision-making becomes especially complex when you are trying to determine which products deserve permanent shelf space on your store floor; and which need to be discounted or sent back to the warehouse to make room for new inventory. It can also be difficult to know the answer to sourcing questions such as when to respond to trends, how much to purchase of a specific item and what price-points to sell at for maximum profitability. As a result, an increasing number of retailers are relying on predictive analytics to make more informed purchasing decisions. In fact, according to Martech Advisor, 57 percent of B2B marketers said predictive analytics was their “primary tool” for 2017.

Consider the following to learn more about how predictive analytics are helping companies to maximize sales and to make the most of their inventory budgets.

Determine Top-Performing Categories

Before a retailer can begin using predictive analytics to make better purchasing decisions, they have to determine the top-performing categories in their existing inventory. These can be found by collecting data on factors such including: sales numbers their POS system, consumer engagement with product images in specific categories and high-traffic areas on the company’s website. From here, a retailer can determine which categories are the most profitable, as well as what categories could be expanded to increase future sales.

Forecast Future Seasonal Inventory

Once a retailer knows where to expand their existing inventory, it is time to measure seasonal sales from past years against current industry trends to forecast seasonal sales. This helps determine how large of an order to place for a specific item, as well as where to take a well-calculated risk with a new trend or category. Targeted purchasing recommendations can be derived from this information, so retailers can order only what they need, when they need it – thus boosting seasonal sales and reducing the risk of end-of-the-season discounting.

Adjust Strategy Where Necessary  

The capabilities of predictive analytics don’t stop once a retailer rolls out their new inventory. Analytics-based software monitors and reports on sales performance, so retailers can keep track of which seasonal inventory categories are the most successful and make modifications to their orders whenever necessary. This means that only the best-selling merchandise gets a place on the show floor. Since NectarOM uses the “Test and Learn” method, we are able to quickly respond to sales activity, so that clients can adapt their purchasing strategy in order to augment ROI.

Keeping Abreast of Trends

It is essential for retailers to utilize predictive analytics when making seasonal purchasing decisions to remain competitive. In fact, Martech Advisor reports that 82 percent of B2B companies used predictive analytics in last year – and of the companies who did not, 67 percent intend to implement predictive analytics in 2018. It is not only important for retailers to have access to the consumer data, but also to have data-based forecasting software which enables them to quickly respond to industry trends and customer behavior. At NectarOM, we provide clients with software with real-time reporting capabilities that clearly outline actionable recommendations – so they can amplify seasonal sales and adjust to changing consumer preferences.

Increase engagement and conversion with these 5 essential omnichannel retail components

As a “click-and-mortar” retail business, you’re uniquely positioned to take advantage of the omnichannel retail trend, deliver a seamless online/offline experience, and meet the expectations of today’s consumers who prefer to use both traditional and digital channels simultaneously while shopping.

Whether customers are interacting with your brand via an eCommerce website, mobile app, print catalog, call center, or physical store, they want to have the ability of pausing and resuming their shopping experience at any point and across all channels without interruption.

An omnichannel shopping experience is customer-centric. It focuses on shoppers’ holistic interaction with a brand instead of disparate channels within the brand.

Here’s how you can deliver a highly engaging and personalized experience across all channels to create a seamless customer experience:

1. Set up a 360-degree customer profile

A single customer view is the foundation of an effective omnichannel retail strategy.

It allows you to leverage the information you have gathered about a customer from all his interactions with your brand across different channels so that you can deliver the most compelling and relevant experience, such as targeted content or special offers, to drive conversion and increase loyalty.

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2. Store all customer data on a centralized platform

A unified backend system is the key to harnessing the power of the single-customer view.

A robust centralized system allows you to manage and extract insights from your customer data while making sure all employees have access to all pertinent information, such as a customer habits, location, preferences, and purchasing history, so that they can deliver a seamless shopping experience no matter when and where they’re interacting with the customers.

3. Offer different fulfillment options

Shoppers want to order and receive merchandise through the channels of their choice; sometimes they want the products delivered to their doorstep while at other times they need an item right away and prefer to pick it up at the store.

As a brick-and-mortar merchant, you have the unique advantage of meeting the various fulfillment needs of your customers through various options, such as buy online and pick up in-store, ship from store, buy in-store and ship to the doorstep.

4. Integrate mobile technology with in-store experience

Consumers are inseparable from their mobile devices, which provides a great opportunity for delivering a seamless online/offline experience via a mobile app to augment their in-store experience.

For instance, with the geofencing technology, you can drive traffic to your store by using push notifications to deliver special offers to customers who are in the area.

In addition, store associates can use mobile technologies to access customer’s purchase history, preferences, and profile information to deliver a personal and engaging experience.

5. Deliver a unified omnichannel brand experience

An outstanding customer experience is consistent, cohesive, and reliable. This implies that every single touch point needs to meet the highest standard and deliver an on-brand experience.

From brand identity and visual designs to user experience and customer service, you need to ensure that shoppers are interacting with your brand consistently across all channels.

Omnichannel experience: the future of retail

A customer-centric experience is the key to brand engagement and conversion.

The expectation of a seamless omnichannel shopping experience is the new normal and brands are realizing the need to stay ahead by making sure that they meet their customers where they are.

Thankfully, with the help of advanced customer data management technologies, building a solid foundation for your omnichannel retail strategy is easier now than ever.

Request a demo to see how you can harness the power of omnichannel personalization in the retail industry.

Sources

//www.mytotalretail.com/resource/top-10-best-practices-for-omnichannel-retail-success/file/

https://nectarom.com/2017/08/17/single-customer-view-increases-effectiveness-omnichannel-marketing/

https://www.r2integrated.com/r2insights/be-customer-centric-not-brand-centric

//www.ibmbigdatahub.com/blog/using-retail-mobile-apps-enhance-store-shopping-experience

 

How to increase sales with email marketing, automation, and website personalization

The eCommerce retail market is competitive. If you want to stand out, you need to offer more than just better products and lower prices.

Consumers are looking for an outstanding brand experience. One of the best ways to meet their expectations is by delivering a personalized shopping experience based on insights generated from customer data.

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The good news is that today’s marketing technologies have made collecting and utilizing consumer data very feasible and cost-effective.

Here’s how you can use marketing personalization to boost your retail eCommerce revenue:

1. Create personalized email marketing campaigns

Did you know that a well-executed email marketing campaign can deliver an ROI of up to 3,800%?

Even with so many digital marketing channels vying for consumer attention, email is still one of the most effective ways to reach your customers. Many marketers recognize the ability to target email content as the key to increasing click-through and conversion rate.

Consumers consider personalized and relevant content a must when receiving communications from brands.

In fact, 86% of shoppers who have experienced personalization believe that it influences their purchasing decisions to some extent while personalized emails generate on average 6x more revenue than non-personalized email.

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2. Guide customers down the sales funnel with automation

When a prospect joins your email list, they’re showing interest in your brand and products.

However, many aren’t ready to make a purchase right away so you should take the opportunity to deliver targeted information that will nurture your relationship with them and accelerate their journey down the sales funnel.

Besides their names and email addresses, you can also collect information that’ll help segment your list. This will allow you to deliver targeted content and offers through different email workflows to increase engagement and conversion.

In addition, you can set up automation to deliver specific content based on user behaviors. For instance,

  • An email can be triggered when the recipients click on a certain link in an email.
  • A reminder can be sent when a registered customer leaves some products in their cart.
  • A special offer can be delivered to promote related items when a visitor shows interest in a product but doesn’t make a purchase.

3. Personalize website content based on purchase history and real-time behavior

Customers are fed up with irrelevant content on eCommerce websites. 75% of consumers said they’d be more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, or knows their purchase history.

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There are many ways to deliver targeted content and generate product recommendations on your eCommerce website to increase conversion rate. Examples of these include:

  • Offering product recommendations based on a customer’s past purchases, preferences, and habits.
  • Displaying relevant or related products based on the visitor’s previous browsing sessions or real-time shopping behavior.
  • Displaying content and products that are relevant to the visitor’s geographic location.
  • Delighting frequent buyers and loyal customers with exclusive offers and discounts to boost customer lifetime value.
  • Creating specific landing pages for your social media and Adwords campaigns to deliver a targeted and consistent user experience.

Customer data – the foundation of effective personalized marketing

The success of personalization marketing strategies hinges upon your ability to extract meaningful insights from your customer data and apply them to your campaigns.

To build a strong foundation, you need a powerful data management platform (DMP) to manage your customer data and a sophisticated “decision engine” to help turn the information into actionable insights.

Welcome to 2018. Personalization rules the world and nearly every business you can nav to on Google Maps has a method of harvesting customer data. Of course, these days it takes more than just downloading some basic CRM (customer relationship management) software onto your POS system to differentiate yourself. Since nearly every company has some method of pulling customer data, analytics alone aren’t effective until that data is cleansed, streamlined and put to work by personalizing your company’s customer experience in measurable ways. Maybe that’s why most of the conversation about data this year is focused more on cleansing your existing customer data than on blindly accumulating info just to stash it away in siloes.

While it may be tempting to take the “more is more” approach when it comes to accumulating customer information, data security is a hot-button issue right now, so it’s important to get your technology up to code. Especially in light of the new GDPR regulations which will require companies doing business within EU countries to revamp their data security measures by May of ’18. In addition to the soon-to-be-implemented GDPR regulations, most companies straight up don’t have time to waste on CRM systems that are lagging due to useless data hoarding.

With this said, here are actionable tips on how you can cleanse your company’s data systems to implement safer and more effective personalization strategies in the new year.

Build a Master Data Strategy

A master data strategy, or MDM, is essential to making sure that the right people in your organization can access the data they need at the right time. Building a MDM also helps ensure that your information is safe from piracy, and the data presented to each individual at your company is whittled down to suit their specific needs. This helps prevent shrinkage, while empowering both you and your employees to make better decisions for your business in a fraction of the time.

CMO by Adobe suggests 5 steps to building an effective MDM: 1) Establish data governance policies (or set of procedures by which to implement your data strategy), 2) identify an owner (someone responsible for the data and how it’s dispensed), 3) define the data (choose universal terms and data conventions to use across your organization) 4) map it out (identify who will be using the data and how), and 5) start small and scale (be patient – it is a process to implement a change of this magnitude).

Assess Relevance with Regular Reviews  

Of course, before you implement a MDM within your organization, you’ll need to determine which data remains pertinent to your company’s needs… and what you can do without. Conducting a regular data review and eliminating unnecessary and/or dated customer information can help to increase your business’s connection speeds, as well as help your employees better locate and utilize relevant information. According to Campaign Live, two-thirds of organizations do not regularly review their data, which means that 75 percent of marketing data within the UK will be rendered obsolete once GDPR restrictions go into effect in May ’18.

It’s essential to conduct reviews regularly for your data to remain relevant, usable, and compliant with all of the evolving privacy laws pertaining to countries where your company does business. Set an internal precedent for, at minimum, an annual data review across all branches of your organization to empower your employees to easily access the information they need.

Use a Single Data Management Platform

So, what do you do with data once it’s cleansed and processed? It’s time to put that data to work to help you gain a better understanding of each customers and tailor your marketing campaigns to suit their specific needs. This sounds more complex than it is, since the right data management platform (DMP) will do most of the work for you. In fact, Nectarom’s DMP creates a centralized channel for all of your data across platforms, while also providing you with a 360-degree profile of each unique customer. In other words, it simplifies your marketing efforts by segmenting customer information and automatically updating customer profiles based on both their recent activity and their phase in the customer lifecycle.

Although it may feel like it sometimes, creating an effective personalization strategy really isn’t rocket science. Put cleansing and streamlining your company’s data at the forefront of your omni-channel efforts for 2018, so that all of the branches of your organization can come together to operate at maximum efficiency!