The way people buy has changed forever.
We hardly need to tell you that. Today, your customers are practically begging you to be more customer-centric. And that’s not just a buzzword — there are stats to prove it.
- 83% of consumers will share personal information if it creates a personalized experience.
- 91% of consumers are more likely to buy from companies who remember them and provide relevant offers.
At the same time that your buyers’ expectations are changing, competition is ramping up. There are an estimated 5.96 million ecommerce stores. And in total, 80% of ecommerce growth in the US is from Amazon, with 101 million Prime members.
What does this combination of personalization and intense competition all amount to?
Buyers have never had more choices and your competition is always one click away. Which means your business has never been in a tougher position.
What do consumers really want?
Buyers now have 100% of the power in the marketplace. It’s never been easier for them to start shopping around before they make their final purchases. In fact:
- More than 50% of buyers use at least one offline channel and two online channels to gain initial brand awareness and they are doing it using, on average, 3 different devices.
- 9 out of 10 consumers price check a product on Amazon.
- Amazon now sells more than 12 million different products.
The clear point here is: buyers can leave any time that they want to and buy elsewhere.
So how can your brand stand out and provide real value? The key lies in the data.
Use data to create a customer-centric experience
We’re now in the Customer Era. Customer-centricity is the way big brands are winning today. In this new era, there is a new approach for how brands are going to grow and achieve higher CLTV than their competitors is by leveraging customer data.
In our recent webinar, we took a look at how your brand can power growth through customer data. Here’s what it looks like:
- Centralize your data sources in a CDP
- Create dynamic segments based on Lifecycle Stage
- Activate your data to insert relevance and personalization into every touchpoint
- Automate your lifecycle marketing
- Use advanced data modeling to identify predictive segments of buyers