Tealium announces launch of a new eBook, “Your Secret Weapon for Customer Retention and Expansion: First Party Data and a CDP.”
In today’s shifting economic climate, businesses worldwide are under pressure to be more efficient, reduce spend, and still drive growth. But cutting costs and finding avenues of expansion is no easy feat. When there is economic instability, a proven strategy is to double down on your customer base. To achieve this, it’s imperative to ensure your current customers are happy and their needs are met.
This is where First Party data and a Customer Data Platform (CDP) come into play. The most successful companies are leveraging their customer data through the support of a CDP to turn today’s challenges into opportunities, creating unified customer profiles that can be utilized to retain customers, grow loyalty, and reduce costs, all at the same time.
To achieve successful customer retention, focus on three proven strategies:
- Speak to the Moment and Build Trust Through Targeted Consumer Messaging: By understanding your customers’ language and needs, you can develop long-term trusted relationships. This involves ensuring a unified view of customer data to activate targeted engagements and messages at scale and in real-time.
- Embrace Consumer Sensitivity and Test New Pricing and Offers: By aligning different segments of your customer base with different offers using trusted customer data, you can gain insights into how their customers are responding to price adjustments. These insights can also be used to attract new customers.
- Reinforce Your Privacy Preferences and Accessibility to Drive Trusted Experiences: Customers are highly sensitive to how companies use their personal data. Proper data collection and usage, privacy, and accessibility are crucial to building trusted experiences.
Executing these strategies in a timely and cost-effective way starts with having one trusted view of your customer. Accurate and real-time customer data is essential for businesses to understand complex customer behavior and take the right actions for the best business outcomes. Customer data should be collected in real-time across all key sources, unified, and made accessible for all teams to take action on. This enables you to future-proof your business and be ready for new market conditions or changes in technology or data sources.
To help companies achieve these objectives, we recently launched a new paper, “Your Secret Weapon for Customer Retention and Expansion: First Party Data and a CDP.”
This eBook explores how the most successful companies are turning today’s challenges into opportunities by connecting customer data through a Customer Data Platform (CDP) and using unified customer profiles to retain customers, grow loyalty, and cut costs, all at the same time.
In this eBook you will learn:
- Three proven strategies to make the biggest impact on customer retention and expansion
- Ways to firm up customer retention efforts, drive expansion within your current customer base, and create loyal brand advocates
- How to avoid easy mistakes that put customers at risk and how to spot risk early
- Real-life Tealium customer use cases and experiences that showcase success
By leveraging a CDP to prioritize customer retention and expansion you can future-proof your operations and thrive in today’s challenging economic climate.
