Interested in attending DV ’22 for Retail? Here’s why you cannot miss this incredible event.
Including a CDP in a MarTech stack is now a must-have for retailers across the globe. Customer data is one of the most valuable assets a retail company (or any company) has, but in order to unlock all the power there within, retailers need a tool to help them extract that data from their various channels, organize it into a single view of each customer, create appropriate audiences, and then activate the newly organized data into new marketing initiatives that will further their customers along their journey.
That tool is the Customer Data Platform. In our 2022 State of the CDP Report, an overwhelming 92% of retail respondents pointed to pandemic-influenced disruption as a factor in their decision to invest in a CDP. And among their top priorities for using the CDP? Creating more personalized communication with customers (cited by 54%), acquiring new customers more quickly (53%), and presenting a more unified customer experience across channels (51%).
But onboarding a CDP is not a flip of the switch. In order to get the most out of this powerful tool, retailers should attend our upcoming virtual event to learn how to maximize their investment and get the longest runway possible when taking flight.
The Ultimate Retail CX Event
Thursday, April 28th
9:00 AM PT | 12:00 PM ET
Attendees will hear from industry experts on how to power the CDP for retail specifically, including how to:
Beyond DV ’22 for Retail, companies should also follow these best practices when implementing a CDP.
5 Best Practices for Retailers Implementing a CDP
1. Maintain a Nimble Digital Presence
After the pandemic, the acceleration of digital transformation, and the new landscape that all businesses now face, traditional business models are becoming extinct. Retailers especially, who have seen massive growth in online sales over the last few years, must rethink how they engage their customers with intelligence across a multitude of venues. Flexible CDPs that integrate across digital platforms will help retailers ensure their nimbleness by keeping their MarTech stack best of breed and able to keep pace with innovations coming from every direction, as well as prepare for the loss of third party cookies and the entrance of web 3.0 and the metaverse. We will also cover this more in depth during our DV ’22 for Retail event.
2. Don’t (Ever) Forget that Customer Experience Drives Demand
Traditionally, retailers have focused heavily on the awareness stage of the buyers journey, but that’s all changed over the last few years. Customers now expect that their actions are being tracked and should therefore be incorporated into the experience they have with a company. If their data isn’t being properly (and respectfully) collected and activated for personalization through a CDP, it will leave them feeling frustrated – an opportunity that a competitor who is effectively utilizing customer data to improve the CX will grab immediately to steal that customer. CX is today’s biggest differentiating factor.
3. Power the Upsell
The CDP not only helps retailers to improve CX and retain customers, but it also enables the upsell. The customer data in their CDP gives them insight into what their customers preferences are and can then help them predict what future offers they might respond positively to. Retailers can use their CDP to achieve continuous customer engagement through improved loyalty programs, sharing product information and personalized promotions that will give the customer a superior experience while simultaneously collecting even more data for insights.
4. Use Your CDP to Innovate New Products
The data collected in the CDP from customer engagements can be secondarily used to improve product lines. Retailers can unlock use cases within the CDP to assess trends amongst their customer base that would otherwise be too difficult to navigate manually across multiple platforms. The CDP removes data silos that commonly cause barriers to accessing this valuable data for a multitude of benefits, including product innovation insights.
5. Integrate Your Customer Service Systems With Customer Data
At Tealium, we are all about integrating everything. That goes beyond the massive amount of turnkey integrations we have built into our platform. We also believe in integrating within an organization to remove data silos. Customer service systems should be fed the organized customer data from the CDP so that when a customer interacts with a retailer’s customer service team, they’re getting a truly valuable experience. This cross-departmental integration will make customers feel inherently seen and understood. This takes CX to the next level and will create loyal customers and even brand evangelists.
For more information on how to achieve maximum success with your CDP, make sure to attend DV ’22 for Retail – The Ultimate Retail CX Event, Thursday, April 28th at 9:00 AM PT / 12:00 PM ET.