Image credit: AppCard
‘Tis the season of holiday shopping and stores will be wooing customers with discounts, promotions, and online offers. Despite their best efforts, their marketing tactics might have the opposite effect. Unless the stores can send relevant offers, they might actually irritate their customers rather than lure them into making a purchase.
According to a Harris Poll survey, 34 percent of consumers are “very frustrated” when stores send an offer for a recently purchased item. Many are also frustrated when they receive irrelevant offers (33 percent) or aren’t recognized as an existing customer (31 percent). The same study indicates that 63 percent of consumers expect personalization as a standard of service, and 49 percent of customers claim they are more likely to buy from retailers who send them personalized content and offers.
Know Your Customers
The first step to sending personalized marketing messages is knowing who is coming into the store and what they like to buy. This is known as the “golden record” and it is the collection of relevant, reliable customer data and metrics in a single unique record for each customer in a marketing data warehouse, which can be used to create custom offers based on specific shopping preferences.
Redpoint Global’s rgOne platform allows marketers to create this golden record by identifying customers across multiple channels and formats, not just via a Website or mobile app, but via any smart device, including smart speakers, smart appliances, and even smart cars. The rgOne platform aggregates the customer’s data from multiple sources, devices, and sessions using its library of more than 200 pre-built connectors, including MarTech, AdTech, message queues, and ERP systems. Using a SDK, clients can access data from IoT devices and other emerging technologies using standard or custom-built connectors.
Image credit: Redpoint Global
The rgOne platform uses machine learning and automated omnichannel delivery to send individualized offers, content, and recommendations to customers. The aggregated customer data is updated in real-time, and clients can build rules to identify key consumer groups. As consumer behavior changes, the customer drops in and out of segments dynamically. Linking IoT devices to customer profiles enables the software to trigger actions and events based on updated information.
rgOne uses machine learning to predict which offers each consumer should receive and in which format, via Website, mobile phone, or app, for example. The company recently added a Clustered Audiences feature that allows the software to identify similarities within segmented groups for further differentiation and AI-based marketing offerings.
Rewards Boost Customer Interaction
While the rgOne platform works on a broader level, a store-level example of data collection is found in brand loyalty programs. By offering customers perks and rewards, businesses get access to their customers’ purchasing habits. The catch is the stores have to capture that data; otherwise they are simply offering a discount.
One example comes from AppCard, which developed a platform by the same name that provides shopper analytics, digital coupons, and personalized marketing services to retail stores. AppCard’s J-Brain server, powered by Intel® Celeron® processors or Intel® Core® processors, collects and analyzes customer data to build customer profiles. Using artificial intelligence and machine learning algorithms, retailers can design personalized marketing campaigns and predict customer behavior. The data feeds into AppCard’s cloud-based reporting system, where retailers can view customer demographics, sales information, and the effectiveness of marketing campaigns.
Turning potential purchases into real purchases is critical, especially this year, as stores need to recoup revenue lost earlier in the year due to mandatory closures. Sending personalized marketing messages will help turn scrollers into buyers.
- Learn about Redpoint Global’s rgOne platform.
- Find out more about the AppCard retail solution and its Intel Market Ready Solution.