| | AUGUST 201919CIOReviewBy Omer Iqbal, SVP, Digital Center of Excellence, Shiseido GroupDATA AND YOUR WEBSITEThe last 15 years have been very exciting in the beauty and luxury space, where brands have gone from competing with each other to competing with retailers and now are competing for customers' time and attention. With this evolving trend, the way brands interact with their customers has changed drastically, and the motivation to innovate is at its peak. This innovation is coming in various areas like virtual try-on applications, personalized product recommendation tools, quiz-based recommendation tools, the use of AI, and machine learning to help find the right products, and more. The key is to collect c ust om e r data, then turn it into knowledge to drive engaging, relevant, and personalized customer experience. Market places (e.g., Amazon, TMall, Rakuten, etc.) and retailers (e.g., Macy's, Nordstrom, etc.) have done wonders for selling products for brands, but they do not share any customer data with them which is not ideal for brands aspiring to be customer-centric. In a 2016 report, IBM Marketing Cloud noted that 90 percent of the data in the world was created in the last two years, and the rate of data creation will only accelerate. How can brands take advantage of all this data? This is where having a direct to consumer channel becomes key, a channel like your Brand Website. Looking at your website as a commerce channel only would be a major faux pas. It is your portal to customer knowledge! The customer data that you collect on your website can help drive marketing and communication strategies, product development, forecasting, media allocation decisions, etc. This data can come from your web analytics tool (i.e., Google Analytics, Adobe Analytics, Clicky, Clicktale), site optimization tool if you have one (e.g. SessionCam, Heap, ContentSquare), purchase behavior from the sales on your site, customer services tools (i.e. live chat, chatbots) and so on. Here are some of the customer insights that you can get from the browsing, interaction, and purchase data on your site:Omer Iqbal
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