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The problem with customer data is that it’s inarticulate and siloed, with the customer bearing the brunt. A hard-hitting survey found that 92% do not understand how their personal information is used and 57% do not trust companies to handle their data responsibly. So how can you collect data responsibly before the application of General Data Protection Regulation (GDPR)?
Without properly leveraging shopper data it’s impossible to create digital promotions that resonate. And if you’re not using customer data to create relevant promotions you’re missing a trick. According to our latest loyalty whitepaper 25% of consumers quit using loyalty programs due to a lack of personalisation. On joining your loyalty program customers opt in to give away some level of data immediately, with 89% of members going on to provide additional information based on their preferences. Meanwhile nearly 100% of consumers would share personal details in exchange for cash rewards; 89% for discounts; and 65% for services and products according to a 2015 survey.
In a nutshell, the new GDPR guidelines relate to:
While the guidelines apply to countries within the European Union, any businesses that hope to trade with EU countries will still need to conform to these data protection laws. With repercussions for any company which fails to comply, a Single Customer View can help you stay on top of the guidelines.
To gain a Single Customer View and understand each customer journey you need to connect channels and systems. Connected marketing not only results in better customer engagement but builds consumer confidence and trust, says a 2016 Nielsen survey. With connected promotions software you can create a Single Customer View and gain insights into the online/offline journey to improve the customer experience at the same time. Win win. Find out more about how to secure a Single Customer View with Eagle Eye and get in touch for tailored advice today.
Whether Amazon, Uber or Alibaba, there's a lot written about these digital-only players and the impact they're having on the traditional high-street and more traditional businesses. But maybe they're missing the real challenge - customers just don't want what you sell. Or more specifically, how you sell it. You can argue about tax advantages, skirting existing regulations or the perceived benefit of not being tied to an existing estate of bricks and mortar stores. However, the real advantage these digital businesses have is simply a focus on the customer rather than the product.
Retailers understand that loyalty programs are crucial to their success, not only in terms of generating incremental purchases but for better understanding their customer behaviors, preferences and motivations. But what makes a loyalty program effective? Are there key pillars retailers must embrace to get loyalty right? And what happens when consumers – and the retail landscape itself – starts to evolve?
Marks & Spencer has just announced an exclusive joint venture UK partnership with startup accelerator Founders Factory to develop emerging retail technologies. The news follows barely a month after forging a partnership with Microsoft to integrate AI technologies into its customer experience, stores and wider operations, as highlighted by Eagle Eye CEO Tim Mason last month.