Customer Data to Optimize CX & Operations

This PSFK Guide is a digital transformation strategy report for the effective use of data in new channels, models & experiences to curate insights, enhance CX and optimize operations

Executive Summary

With the growing demand and necessity for digital commerce channels and capabilities, retailers have been quickly transforming their business goals, operations and strategies to go beyond the convenience and utility of eCommerce to offer customer experiences that deliver personalized support, entertainment, and a great sense of community. As the online world continues to become more inclusive, retailers are meeting their customers on the virtual platforms and tools of their choice, no longer limiting who, where, when, or how a consumer can transact.

In order to meet the unique challenges of omnichannel selling to ever changing needs in a rapidly shifting consumer landscape, organizations are also actively exploring the business processes to best provide improved customer service assistance, and foster loyal customers in third-party environments beyond the retailer’s digital store. To do so, brands and retailers are looking to social media, streaming platforms, and mobile app leaders for innovative commerce practices. As a result, brands are cultivating an engaged consumer base and designing customer data integration strategies based on actual customer feedback, from disparate sources and single source real-time data, plus comprehensive customer data-driven insights.

Report Overview

In this report on customer data integration, PSFK researchers explore how retailers and brands are gathering customer insights and gaining deeper understanding of customer activities through customer data integration strategies and value-driven incentives. Supported by best in class examples of innovation from across the marketplace, learn how retailers and brands are then activating around this business intelligence to improve customer experience and implement data-backed initiatives.

What You Will Learn From This Report

PSFK has identified three steps for brands and retailers to consider as they build their own customer data strategies and customer relationship management infrastructure:

1. How to establish new touchpoints to collect data from potential customers

• Retailers and brands are developing customer profiles by developing interactive, game-based source systems which potential customers add actionable insight into needs, product preferences and more
• Community focus groups are positioning consumers as valuable assets, creating open dialogue between brand and shopper for AB testing and in-depth customer feedback

2. How to improve customer experiences and make informed decisions.

• Retailers are leveraging customer data platforms and integration tools to get a 360-Degree view of each single customer and make informed decisions for engaging and accurate customer interactions
• Connected stores are leveraging real-time data about customer preferences and this is helping retailers to continuously improve on the IRL customer journey

3. Why customer data integration strategies need to rely on a fair exchange model

• In return for their participation and shared information, retailers are enhancing the customer experience with tailored product recommendations and relevant messaging and offers
• Connected membership programs drive customer loyalty as current customers gain access to exclusive perks at scale for their ongoing participation and brand involvement

Who Prepared This Report

This marketplace strategy research paper has been developed by the same researchers and analysts who help the world’s leading companies (inc. Nike, Google & Samsung) understand and activate trends. They help companies that include Nike, Google & Samsung with their sector-leading market research platform and bespoke trends research and innovation consulting.