Criteo_CR001

How Data-Driven Retail & Brand Collaboration Can Power User-Centric Shopping Experiences

Personalization continues to play a critical role in retailers’ engagement strategies. But over time, customer journeys continue to grow more complex.

They span different devices and entry points, new channels and advertising platforms, and myriad sources of influence. Moments of inspiration no longer occur only in a single channel; shoppers discover products on social media, in voice and text search, in store and on blogs. Their purchase decisions also increasingly happen through all of those channels. This makes true personalization difficult to maintain.

The Modern Buyer's Journey

Social Media

Mobile Devices

In-Store

Online Media

Now, retailers must navigate shopper behaviors and expectations that have emerged and accelerated as a result of COVID-19. For example, demand for buy online, pick up in-store (BOPIS), curbside pickup, same-day delivery and other services have skyrocketed — and the desire for quick, contactless transactions will continue. Marketers need to leverage their existing customer data as well as powerful AI and machine-learning advertising technology. This blended strategy enhances personalization capabilities to inform, inspire and empower these discerning consumers throughout their entire brand experience.

Use of BOPIS grew by 34% during the COVID-19 pandemic shutdown, and 59% of consumers say they intend to continue using it long-term

Develop a single source of truth

Understand the customer journey

Embrace Personalization

Gain deeper awareness

Develop a single source of truth

Understand the customer journey

Gain deeper awareness

Unlock New Revenue

Optimize The Retailer-Brand Dynamic

Develop new revenue opportunities

Optimizing for efficiency and sales

Develop new revenue opportunities

Optimizing for efficiency and sales

Optimize The Retailer-Brand Dynamic

Develop new revenue opportunities

Optimize The Retailer-Brand Dynamic

Build Shopper Loyalty

Shape contextual awareness

Craft effective creative

Stimulate engagement

Analyze attribution

Craft effective creative

Stimulate engagement

Analyze attribution

Stimulate engagement

Analyze attribution

Shape contextual awareness

Craft effective creative

Analyze attribution

Shape contextual awareness

Craft effective creative

Stimulate engagement

Data-driven insights are also key for retailers wanting to expand their revenue streams. If retailers can utilize their data to deliver a truly delightful experience for both consumers and brands, it’s sure to create a recipe that will have them both coming back time and again. First-party data gives marketers insight into a retailer’s highest-value customers, allowing them to deliver a personalized experience that builds long-term loyalty. In addition, by allowing brand partners to promote their products to the right customers at the right time and place, retailers can further enhance the shopper experience and tap additional revenue opportunities. But retailers struggle to access the meaningful data within their systems. It takes time to clean, process and harmonize all of that information. The right technology allows retailers to offload these cumbersome tasks. By leveraging a single advertising solution, retailers will gain accurate, timely and actionable insight to help drive the best marketing outcomes.

Delighting customers is the first step in driving engagement, and the right data provides the understanding to deliver a shopping experience with relevant ads and enticing offers.

Start Your Journey

omnichannelsales@criteo.com

1.888.603.3626 info@retailtouchpoints.com

Embrace Personalization

Today’s consumers transition between devices, sometimes using several channels simultaneously. As a result, it’s difficult for retailers to maintain a strong understanding of their customers and develop campaigns that deliver positive, consistent results. Couple this with the reality that consumers see a brand as one uniform organization. They expect continuity and personalized experiences as they touch different media, devices and channels. Understanding the customer journey — and creating a personalized experience to fit every touch point — is a significant undertaking.

Develop a single source of truth

of retail marketers say they do not have a completely unified view of customer data sources

SOURCE: RETAIL TOUCHPOINTS

Robust, unified, organized data enables retailers to excel in an omnichannel environment. The more retailers understand about existing customers, the more they can drive loyalty and customer lifetime value, allowing them to acquire new customers. Using digital behavioral data, online and in-store purchasing data, and other offline intent signals, marketers can better understand customer behaviors and get greater context into their journeys. But harmonizing multiple data streams is a huge challenge. Liberating first-party information from traditional silos and blending it into a holistic dataset is critical to fully understanding shoppers and their engagements across all devices and channels, and creating the best experience for them.

of consumers use multiple channels during their shopping journey.

SOURCE: HBR

Understand the customer journey

With organized data, marketers can identify others in the ecosystem to help utilize that information, executing against intent and past purchase behavior. Technology partners with a strong deterministic capability enable marketers to connect a customer identity in one channel to the same shopper in another channel. This helps brands communicate with customers in a personalized manner, effectively tying all those marketing channels to outcomes. A retailer’s web site provides deep insight into the customer journey

Robust behavioral data and an understanding of how customers interact with the brand allow marketers to put ads in front of each of these shopper groups that will prompt them to take the next natural step.

Gain deeper awareness

Visibility into interactions and behavior across multiple sales channels drives additional effectiveness. If someone browses for a product of a certain color, value or size, marketers can take that aggregated, non-personally identifiable data and use it to show the shopper something highly relevant.

It allows marketers to know (and deliver) specifically what that shopper wants to see, both online and in-store, versus relying on audiences built on assumptions about a shopper’s likes and demographics. The right insight enables retailers to be where the customers are, informing and inspiring them, empowering and validating purchases. Marketers can serve relevant recommendations based on shoppers’ likelihood to buy and accelerate the decision-making process.

Unlock New Revenue

Brands power a retailer’s business. They build clout and drive customer loyalty. Retailers can also maximize brand relationships to combat economic uncertainty and fierce competition, and to unlock new revenue.

COVID-19 prompted 75% of consumers to try new shopping behaviors, and they intend to stick with them long-term.

SOURCE: MCKINSEY

Optimize The Retailer-Brand Dynamic

Retailers have unique information on consumers’ shopping behavior and purchase history, data that can help brands develop more effective approaches to engagement. With the right technology, retailers are positioned to promote their brand partners and leverage the opportunity to inspire shoppers with strategic advertising.

Develop new revenue opportunities

Understanding campaign performance requires transparency, which in turn strengthens the collaborative relationships between retailers and their brand partners. A retailer’s first-party data reveals both performance and comparison information. Brands require that retailer-level visibility to optimize where and how they spend their ad dollars, resulting in more successful campaigns. Insight into campaign performance also boosts retailers’ understanding of shoppers and uncovers new opportunities to create relevant experiences. Consider:

A strong data collaboration strategy also enables retailers to create new revenue streams, with first-party data providing the perfect foundation. Data collaboration brings more power to initiatives around targeting different ad formats and extending the audience through cooperative marketing and advertising efforts. It boosts revenue and drives more product sales for retailers and their brand partners.

Optimizing for efficiency and sales

With all the moving parts involved, managing sponsored campaigns through an integrated platform gives brand partners seamless access to important details and provides reliable attribution data to tie media spend to online and offline sales.

A unified technology solution means marketers can focus on their objectives without needing to move from one disparate system to another, or to interpret data using multiple interfaces. Retailers get more control and flexibility while also improving transparency.

Build Shopper Loyalty

Site and cart abandonment have always been pain points for retailers, but they’ve become bigger issues in the omnichannel world. Customers are always looking for the next best thing, and they're more willing to stray from brands for something new, exciting or more aligned with their needs and values. Challenging economic conditions impact these behaviors even further. Forward-looking retailers are in a perfect position to adapt to these realities. Access to multiple brands allows retailers to be brand agnostic, showing shoppers the products that are most relevant to their needs, preferences and intent.

Only 1-2% of web site visitors turn into customers.

SOURCE: BIGCOMMERCE

Shape Contextual Awareness

Along with tailoring product offerings, retailers should create campaigns that fit the context of consumers’ lives and their current stage in the shopping journey. Retailers can’t simply push out campaigns and wait for results.

The right technology partner is key — one with deterministic identity capabilities that can connect today’s device-hopping, channel-crossing shoppers into one uniform identity. Retailers can then close the loop by assessing intent, past purchase behavior and traditional purchasing patterns. This will create a strong feedback loop of outcomes that benefits retailers and their brands.

Craft Effective Creative

To personalize offers based on consumer behaviors and their overall intent to buy, the creative needs to spotlight the right products and deliver relevant offers. The key is dynamic creative optimization, accounting for the types of products users are browsing, and showcasing ads in multiple sizes or using different placements. Marketers can then focus on precisely what resonates with each user. The most successful creative utilizes details on past behaviors and purchases to predict future behaviors. Ads must be compelling, natural and helpful, showing shoppers items they might like without being cloying or creepy.

A highly personalized shopping experience makes consumers 110% more likely to put additional items in their cart and 40% more likely to spend more than they originally planned.

SOURCE: BCG

Stimulate Engagement

The best results come from maximizing engagement beyond branded platforms (and on reliable publisher networks). By identifying the right audience, marketers can speak to users in a personalized way to shape the outcome from each ad.

This will capture the consumer’s attention and drive the engagement that ultimately follows.

Analyze Attribution

Attribution brings everything together, allowing marketers to evaluate data at multiple levels of detail:

With that insight, marketers can adjust their strategy and put their dollars toward the most fruitful portions of the purchase funnel.

SOURCE: MCKINSEY

This year, U.S. adult social network users will spend 7 more minutes per day on social networks than in 2019.

SOURCE: BUSINESS INSIDER

Mobile’s share in U.S. online retail and travel commerce will increase from 36% in 2018 to 45% in 2024.

SOURCE: FORRESTER

80% of US consumers subscribe to at least one paid streaming video subscription service and subscribers have an average of four paid streaming video subscriptions.

SOURCE: DELOITTE

62% of smartphone users research products in-store.

SOURCE: PAYMENTSJOURNAL

Total worldwide daily e-mail traffic is forecasted to be over 361 billion by the end of 2024.

SOURCE: RADICATI

Embrace Personalization

Contextual Journeys That Support Omnichannel Behaviors

Unlock New Revenue

Smarter Marketing That Connects With Consumers, No Matter Where They Are

Build Shopper Loyalty

Mobile Devices

Online Media

In-Store

Embrace Personalization

Optimizing For Efficiency And Sales

Develop New Revenue Opportunities

Optimize The Retailer-Brand Dynamic

Unlock New Revenue

Contextual Journeys That Support Omnichannel Behaviors

Stimulate Engagement

Craft Effective Creative

Shape Contexual Awareness

Build Shopper Loyalty

Brand Partnerships & Collaborations That Drive Discovery

Analyze Attribution

Navigation

Rewriting The Rules Of Engagement The Modern Buyer's Journey Contexual Journeys That Support Omnichannel Behaviors Brand Partnerships & Collaborations That Drive Discovery Smarter Marketing That Connects With Consumers, No Matter Where They Are Start Your Journey