…and it is your customer data.
Nine out of ten purchases still take place in the store. That means that with each swipe of the credit card, customers send a strong signal of preference by means purchase. But today this signal is lost into one of these: DMP, CRM, or another three-letter acronym for your data sinks.
“Mobile First” is the latest catchphrase in omnichannel retail since the smartphone is most often the starting point for consumers beginning their path to purchase.
We are at the beginning of a significant journey to bring digital capabilities to the in-store environment and vice versa. Personalization should be a large component of this journey. Over the last couple of years, some retailers have deployed interesting omnichannel applications.
They say you can’t put a price on love, but Netflix CPO, Neil Hunt, recently put a price on the value of better recommendations for his customers, and that figure is half a billion dollars.
Digital technologies are not only redefining the way customers shop; they are redefining retail business models. More and more retailers have started to leverage cloud APIs to innovate and build exceptional customer experiences through personalization. No longer a buzzword, rapid innovation has become a competitive advantage for many companies.
Today, I’m super excited to announce the launch of the Relevance Cloud™– what we at RichRelevance believe to be the most comprehensive personalization solution for retail today. The Relevance Cloud is a re-imagining of all RichRelevance products with new features and more simple ways to access, use and implement each of RichRelevance’s products.