Many cycles exist in retail marketing: seasonal sale cycles, product life cycles, B2B sales cycles... The list goes on. One of the common traits of these cycles is an endpoint. Seasonal sales and product life cycles end. A B2B sale gets closed. An end point is logical in most cycles, due to slowing consumer interest or pursuing new clients. In regards to customer engagement, however, the cycle should never end.
The cycle of personalization is a prime example. The main concept of this methodology is a continuous loop of "Build-Measure-Learn," which can be applied to many aspects of business. Employing software that can infinitely optimize and execute personalization on an individual basis for millions of customers is a retailer's dream.
This dream is also shared by consumers. A recent article about retailers and personalization shared a variety of statistics supporting the mutual demand for customized messaging:
- A Marketo poll of over 2,200 consumers found 63% were annoyed by generic brand messages.
- An Accenture study found 55% of consumers want a personalized experience on all engagement channels.
Now that we know everyone wants it, how do you power this endless cycle?
A loop doesn't loop without an energy source. Profile creation, campaign execution, optimization, and data synchronization all influence the process in their own distinctive way. One cannot work without the other, and when they all work together, the endless cycle is set in motion.
A unified ID is a customer profile that links temporary identifiers (e.g., cookies) to more permanent pieces of data like emails, phone numbers, and app IDs. You can also integrate demographic data, shopping behavior, and geographic location to build a more dynamic profile.
Let's say we created a unified ID for a customer named Ryan. Once the ID is established, the marketer only has to look in one place for all of Ryan's data. This single source of information can help a marketer personalize marketing messages to him on any channel, any time. For data-lovers, that is when the fun begins.