Customer Portfolios' Blog

Personalize Now: Lessons Learned from Monetate Summit

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Last week, marketers, technologists, data scientists, and cheesesteak enthusiasts gathered in Philadelphia for Monetate’s fifth annual summit. The event’s theme was Personalize Now and in the age of customer, this struck a cord with both the brand and technology marketers in the crowd, since no matter your role, the goal should be focused on the customer and creating a seamless customer experience. Much of this is dependent on brands having the data, which provides insight into the individual customer and their needs, wants, and preferences.

In accordance with the theme of Personalize Now, there were several key takeaways that came out of the event that can help you become more customer-centric through aid of customer data.

1. Make a relevant experience for the customer. As the Monetate video pointed out, no two customers are alike. Each customer has their own unique needs, wants, preferences, and tastes, yet so many brands treat customers as if they are all the same. By using data to understand each customer, brands can create a 1:1 omni-channel experience that provides them with relevant offers and timely information.

2. Creating a holistic cross-channel experience. An area that most marketers get tripped up on is being able to recreate the online experience felt in-store and vice versa. An important component of relationship building between brands and customers is creating an experience that is familiar and regardless of the customer’s point of interaction.

3. Customer will drive adoption. Johnston & Murphy’s Heather Marsh cautions: customers should drive adoption of new technology and channels, rather than brands. Brands should shy away from forcing customers to engage with them in a manner that does not work for the customer. A brand’s objective should be to remove any roadblocks that may potentially harm the customer’s experience.

4. Start small and build from there. The old adage states that Rome was not built in a day and when it comes to using customer data, the same adage holds true. The brands that have found success with using customer data are the ones who realize that it is an iterative process and to start with small incremental goals to begin building a 1:1 experience over a period of time. For retailer, Johnston & Murphy despite capturing over 300 different customer attributes and having very detailed segmentation profiles, when the retailer began testing personalized content on its website it started with a few smaller scale tests to understand the impact and to help inform future testing and personalization of content.

The bottom line: the more data you have, the more you know.

Big data is not called big data simply because of the amount of it – rather, it is when brands use structured and unstructured data to derive value. The more data brands have, the more they are able to know about their customers and the more they can do with their data. This enables brands to conduct deeper levels of segmentation, targeting, testing to ultimately provide customers with more personal and relevant communication.

So what are you waiting for, it’s time you begin using data to Personalize Now.

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