If you’re a retailer reading this article, there’s a 50 percent chance that within the next 24 months you expect to gain the ability to send precise messages to customers at exactly the right time based on their channel preferences. And for good reason. A Deloitte Digital survey found that nearly half of shoppers spend more when receiving a personalized coupon, promotion or recommendation. However, in a recent U.S. retailer survey from Symphony RetailAI, Marketing 360: Personalizing the Path to Purchase , we found that while half of U.S. retailers have or will soon make efforts to develop personalized marketing capabilities, there are still some notable gaps that will limit their ability to connect and engage with shoppers in an increasingly unified retail landscape. For example, while 74 percent of retailers have become broadly adept at personalized digital marketing strategies such as social media or retargeting, only 18 percent claim an advanced ability to personalize mobile content. Meanwhile, less than half expect real-time targeting to be part of their arsenal even two years from now. If those aren’t among your primary marketing goals, you may want to re-evaluate your approach. Establish a 360-Degree Customer View Fortunately, more than one-third of retailers are working to remedy their deficiencies in these areas by working towards a single, comprehensive view of each customer’s behavior in order to cater to them with unique offers and promotions. However, with the explosion of available omnichannel data, retailers struggle to collect the most valuable data from disparate business systems in a central repository. In addition, actionable analysis often requires extensive resources. Make Customer Data More Powerful With Artificial Intelligence In response to these pressures, we see that marketers are increasingly evaluating benefits of artificial intelligence-enabled personalized marketing solutions. These systems bring together every relevant data point […]

Read Full Story:  How to Create an Effective Personalized Marketing Strategy

Source:  Total Retail