CDP for Retailers increases Customer Lifetime Value
Retailers now need more than ever to bridge the gap between online and in-store experience. Rich customer data is the key to achieve a great customer experience (CX) and increase customer lifetime value (CLV).
Pandemic has shaken each industry and retail isn’t an exception. At the same time, customers want their brands to truly understand their needs which would be mission impossible without full view of the customer lifecycle.
Here’s a typical problem
CDP can solve in Retail
As retailers, you can leverage your customer data beyond your own marketing campaigns. Learn about how you can reach the right audience and effectively monetize your investment.
Want to know how CDP can help you?
Unlock the full potential
of your customer data
Single Customer View
Retailers often have too many single views of a customer – one for each touchpoint for example website, loyalty program etc. We focus on identity resolution, using smart algorithms to connect all the data into one ultimate customer profile.
Online to Offline
Connection between online & offline touchpoints might be sci-fi to some brands. This is not a marketing problem, but a data engineering challenge our technology already solved for many retail clients. Meiro integrates, collects, and connects you data to one powerful tool to give you access to use behavioral insights for your marketing or product upgrade to efficiently navigate your business.
Customer Lifetime Value
It is easier and cheaper to increase the value of existing customers than acquire new ones. Meiro CDP helps you to describe your customers better, which is the springboard for increasing their CLV thought better personalisation, and tailored recommendations based on their intimate knowledge and understanding.
This is how Single Customer View feels like for Retail
Meiro CDP automatically connects data sources, cleanse your data and presents them in an intuitive app for business users. It’s easy – from raw data, to valuable insights, and then to action in seconds!
Business Problem
Vendor marketing is an important revenue driver for retailers. But retailers need to use their broad customer base dataset smartly to be able to drive vendor-sponsored campaigns on owned assets (email, website, in-app, brochures) as well as act as a publisher (Programmatic, Google Ads, Facebook Ads).
Solution
We integrate 1st party data from e-commerce with a combination of transactional data and behavioural data such as browsing on the website or clicks in the newsletter, redemptions in a loyalty program, or interaction with brands advertising assets.
Benefit
Retailers are able to raise up to 120% of their advertising budget from vendor marketing related activities, turning marketing into a profit center. Smart use of complete datasets delivers better performing campaigns than vendors could ever reach themselves, without transactional data.
