If you're running an eCommerce store, you know that customer loyalty and retention are essential for success. It's not easy to keep customers coming back for more, but with the help of a customer data platform (CDP), it can be a lot easier. In this post, we'll take a look at some of the best CDP use cases for eCommerce stores, and we'll also explore how these platforms can help you keep your customers happy and coming back for more so if you're looking for ways to boost your business, read on!
Benefits of a CDP in building customer relationships online
360-degree views of the customer: One of the best things about CDPs is that they give you a complete view of your customer data. Having these views means that you can see how customers interact with your store, their buying habits, and what kinds of things they're interested in. You can create targeted marketing campaigns that will speak directly to your customers' needs and interests with this information. Additionally, you can use this data to create custom loyalty programs that will keep customers coming back for more.
Customer segmentation: Another great thing about CDPs is that they can help you automate some tedious tasks of running an eCommerce store. For example, if you're manually sending out abandoned cart emails, a CDP can help you automate this process so that it's one less thing for which you have to worry. Additionally, CDPs can also help you segment your customers so that you're only sending them relevant information. Segmentation is a strong emphasis of VIEWN's CDP because marketers need the right audience communication. This way, you're not bombarding them with emails and messages that they don't care about, which can lead to them unsubscribing or, even worse, leaving your store altogether. Implementing a customer data platform is a great place to start if you're looking for ways to boost your eCommerce business. CDPs offer a wealth of benefits that can help you keep your customers happy and coming back for more. So, what are you waiting for? Start exploring the best CDP use cases for your eCommerce store today!
Optimize Post-Purchase Engagement
After the sale, many factors can influence consumer loyalty, but what comes next might be crucial. Keep your consumers delighted and engaged to keep them coming back for more. According to PwC, 79 percent of customers are only likely to participate in an offer customized to reflect past interactions with the company- that's personalization.
A single, intelligent solution can handle connected customer journeys that include post-purchase communication. Personalized product recommendations based on customers' prior purchases and abandoned cart notifications when necessary can boost repurchases by up to 30%. That is significant for eCommerce businesses.
Regain contact with past customers
Loyalty programs can use CDPs to identify consumers who haven't made a purchase in a certain amount of time and quickly target them with marketing campaigns designed to encourage new purchases, whether through relevant products or sales events that increase purchasing urgency. This method may help you retain your current customers and boost revenue if you have a prior loyal customer.
Retaining existing customers is up to 25 times more expensive than attracting new ones. And, on average, current customers are 50% more likely to buy new items from you than fresh prospects. In other words, it's wise to find out which consumers are at risk and encourage them to stick around using a retention method.
Begin by identifying the typical qualities and actions of churned customers. To identify similarities among your present customers, use lookalike modeling to create a profile of high-risk clients, then operationalize this model within your CDP. You should also segment your at-risk consumers and develop a campaign to repair your connection with them. For at-risk customers, gather feedback on what's missing in your offering, look for areas of friction when trying to repurchase, and hone in on your onboarding metrics.
Promotions do work and are great tool marketers must utilize. The easiest method to keep consumers loyal is to offer them a cause for why they should stay. Providing your followers with an incentive such as a points system or anything similar will encourage them to continue their patronage and develop their connection with the business.
Utilize Engagement Scores
Predictive modeling in the modern customer engagement approach is on the rise. Data scientists and business intelligence experts have traditionally been in charge of executing artificial intelligence and machine learning, including creating, training, and deploying models. These marketing teams aim to communicate the results (i.e., consumer scores) and insights from these models with marketing and other customer-facing teams to deliver better customer experiences.
Engagement scoring is labor-intensive, highly manual, and time-consuming without a CDP that can keep track of unique customer journeys. Business users without technical skills or SQL knowledge can extract insights from and act on first-party data in real-time with a CDP. And, of course, this includes consumer scores generated by predictive models. Growth teams may use VIEWN to create out-of-the-box algorithms (either prebuilt or tailored) to calculate CLV and predict customer churn. See how it helps a business immediately.
Customer data platforms are essential for eCommerce stores that want to build loyalty and keep customers coming back for more. Using a CDP, you can collect data about your customers' behavior and preferences, which you can then use to create targeted marketing campaigns that appeal to them. Let us know in the comments if you're using a CDP to drive customer loyalty and retention. We'd love to hear how it's going!