“We are living in unprecedented times.” It is clear that this unique period in history is having a profound impact on all aspects of our lives, and one area that is experiencing strong growth coupled with profound transformations is that of retail and e-commerce. The data that was relied on last year – or even last quarter – to make management decisions is no longer sufficient to maintain a competitive advantage in a market that is now constantly evolving.
Here are three strategies you can implement now to create a more powerful, more comprehensive customer view in 2021.
Summary
Meet your customers where they are in their purchasing journey
At first glance, this may seem obvious, but customers today are not taiwan phone number necessarily where they were a year ago. In fact, many brands are seeing a shift in the way consumers interact with them.
So where are the customers? It all depends on the brand and the audience it’s targeting. Social media mobile apps like Snapchat and TikTok have exploded in popularity since the pandemic, as have streaming services like Disney+, Hulu, and Netflix. Advertising on these platforms has become a lucrative way to reach consumers today.
Rethinking your advertising strategy is not only important, but it’s the first step in creating a 360-degree view of your customers. Once you know where your customers are—and aren’t—you’re able to go further.
Capture all your customer data
From its first ads to the experience it builds on its website, in everything a brand does to build customer loyalty, it collects more and more customer data. Every click on an ad, every addition to a shopping cart, and every email opening generates important information that it can use.
To generate this 360-degree view, it is crucial to capture all of this data and put it together. You can speed up your purchase – by noting that a window offering a 10% discount at the end of the purchase helps you make a purchase decision, for example – but this data alone will not necessarily allow you to deduce what to do to find other customers like this one. What if this 10% discount accelerated the purchase AND generated new customers? With a 360-degree view, detailed information on the end of the purchase funnel can help build brand awareness or encourage a brand to A/B test a discount window appearing earlier in the purchase funnel to optimize results.