After spending many years as the VP of Marketing at one of the leading personalization technology providers, I have a pretty good understanding of the benefits and limitations of personalization. And while there are very clear advantages for retailers that adopt a well-designed personalization strategy, I worry about the personalization bubble that has been created. There is irrational exuberance in the marketplace today, an almost mystical belief in the impact that personalization technology will have on a business.
Messages from analysts and thought leaders are fueling this fire. Here are excerpts from an email I just received promoting an upcoming analyst webinar on personalization—sound familiar?
“Personalization is being redefined as individualization—structuring interaction, functionality, and content around the real time individual needs of customers.”
“Discover why individualization, not segmentation, is becoming the new standard for personalization.”
The implication is that with the right technology investments, brands won’t need to do any heavy lifting in marketing. They won’t need to dig deep to understand the differences across customer segments, they won’t need to develop personas, and they won’t need creative breakthroughs to propel their business. Just leave it to the algorithms to crunch the customer data and deliver the perfect message to each consumer at just the right moment. Sounds like magic, right?
As my mother always said, “if it sounds too good to be true, it usually is, unless it’s me.”
We recently hosted a webinar with Tommy Lamb, Teleflora’s Director of Loyalty and Retention. Tommy, who has previously held positions at Dermstore, Lucky Brand, and BCBG, walked us through the ways his team is leveraging customer data to drive sustainable growth. Check out the full video below.
Custora’s CEO, Corey Pierson, kicked off the webinar by discussing why customer-centric metrics such as customer lifetime value (CLV) are essential indicators of the health of retailers’ customer databases, and why customer retention is becoming more important than ever.
Tommy then shared four case studies—churn prevention, VIP programs, and two cases of advanced segmentation. In each, he used Custora’s predictive algorithms to select the best audiences at key moments in the customer lifecycle. He explained how he determined which opportunities to pursue, how he began testing offers and creatives, and how he used holdout groups to measure the success of each campaign.
Fill out the form below to get the recording.
Guess Director of Marketing – CRM, Victoria Grahan, discusses how Custora is helping transform the ways Guess communicates with their customers.
Imagine you’re Victoria Grahan, Director of Marketing – CRM at Guess. You have the resources and support of global fashion brand and you work with a talented team of data-savvy marketers.
Surely you have nailed down marketing analytics and customer segmentation, your email campaigns are micro-segmented and ultra-personalized, and of course, your target CPA (cost per customer acquisition) is as chiseled as the muscles of those Guess models.
We recently hosted a workshop with Victoria at Fashion Digital New York, where we discussed how a large data-driven organization with a dedicated, sophisticated in-house CRM and analytics team is leveraging external tools like Custora to extend and automate some of their analytics and marketing programs.
Here are a few highlights from Victoria. You can watch the entire 45-minute recording below.
We recently hosted a webinar with Becca Freeman, Senior Manager, Digital Marketing at BaubleBar. Launched in 2011, BaubleBar has quickly become an online destination for fashion jewelry, due largely in part to their unique sourcing capabilities. BaubleBar leverages real-time data to design products corresponding to current consumer trends.
Becca manages BaubleBar’s customer acquisition and email marketing programs. She talked to us about BaubleBar’s use of data and customer insights, as well as their upcoming holiday strategy. Here are a few highlights – you can get the entire recording below.
(We’re also hosting another webinar this week, discussing data-driven email marketing techniques from top retailers like Guess?, Nasty Gal, and Sole Society – register here).