Your business strategy may be to blame for your customers' refusals

Your business strategy may be to blame for your customers' refusals ...

Every brand marketer encounters a challenge in retargeting customers. However, customer data is unlikely to be the answer, as yet preliminary evidence suggests that marketers aren''t using it properly. This prevents and prevents competitors from having a profit, indicating that they are keeping an eye on the opportunity, or are they crashing into gold?

Nearly half (49%) of Americans were concerned about being incorrectly marketed to by brands they previously advertised, and as a result, swift action was taken 57% unsubscribed from brand marketing content, 34% blocked the brand on social media, and another 31% stated they would not purchase from the brand again.

Its projected that ecommerce sales will reach more than $1 trillion by the end of 2022, resulting in massive losses for brands who choose to ignore reevaluating their customer marketing strategy to provide a personalized and transformative experience. By exploring the areas within consumer data that have the most potential for improving the overall experience, industry professionals can uncover valuable insights and drive better results.

Basic and behavioral data

The customer data structure can be split into two core data sets: basic and behavioral. These are commonly used as identifiable characteristics of the customer, which can be collected through purchase histories such as age, gender, location, and sizing. Behavioral is taking it one step further, analysing how a customer interacts with your website. This type of data can entail consumer buying preferences and reveal patterns from website navigation.

Every customer data is unique to them, based on a thorough analysis. This story may identify gaps or new opportunities for marketers to reengage, but personalization is critical. In 2020 51% of consumers left a retailer or branded website because of poor personalization in their customer experience.

Sustainability is a science that separates from the customer''s story and shows the company''s decision to customize the packaging accordingly. In an attempt to keep the customer''s message clear, the company can now identify whether or not their packaging choice impacted the environment or how many emissions they saved, regenerating in a way that is meaningful to the customer. Some businesses have seen a 300% increase in repurchase rates.

When youre dealing with thousands of customers, a thorough analysis of data may help you lose weight. When you are not approaching consumers, or worse, overlooking how basic data can be beneficial to your business. In a competitive market, businesses have the obligation to provide a high-quality experience that starts with personalization.

Harnessing zero-party data

CX marketers are spooked by zero-party data, which is voluntarily given to a company in exchange for something that might enhance their experience or interactions. Guesswork is eliminated from the equation, making this type of data vital to tailoring the customer journey.

Even as the retail industry continues to pursue ways to educate consumers, short surveys and quiz-style assessments collect data directly from the customer, giving greater control to the customer, while still increasing engagement and giving valuable insight to the company.

While zero-party may be the answer for some, gathering intel isnt enough 22% of consumers reported sharing direct feedback with a brand for a product they disliked, and within weeks continued to be targeted with advertising and information for similar items. Consumers want to be heard and the brands who listen and harness Zero-Party data appropriately with a personalized solution will only see further improvements.

While data may seem trivial for some, it is a crucial part of understanding the needs of your customers and can assist improve business processes. If customers continue to return specific items for one reason, such as the items run too small or they arrive broken, the business can immediately utilize that information and message to their new customers that the clothing is relatively small or that the stock is checked to see if broken items are required.

Unfortunately, many companies are missing the mark right now, and with that, they are losing customers. It''s up to brands to rethink how they use customer data. Personalized experiences are in demand, making them a huge sales driver for companies looking to succeed in the future.

Tobias Buxhoidt is the founder and CEO of parcelLab.

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