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In our latest GDS Video Snack, Sasha Qadri, Editor at MeetTheBoss TV looks at how customer science can enhance the customer experience and drive sales.
Knowing your customer has been a retail mantra for as long as retailing has existed. But as technology has evolved, so has the customer journey. There’s a big difference between knowing your customer and enhancing their shopping experience. Cue, customer science – using customer data smartly to find and apply insights that create a better customer experience.
Dave Clements, Global Capability MD, Dunnhumby:
“By looking at customer science, we can find out so much more around customers, their behaviours, their attitudes, their opinions. So it’s really about finding out for individual customers who they are, what their behaviours are, why they do those behaviours, and even moving now to what-if behaviours. So what might they do in the future? It’s really giving you that real specific insight across all sorts of things with customers”.
And real specifics are what retailers want these days. Because personalised interactions with customers are the ones that add value.
Dave Clements, Global Capability MD:
“We find when you personalize communications and make them much more relevant, we see four times the impact in sales uplift and probability from normal – compared to normal sort of untargeted communications.
A lot of retailers promote products in their stores, certainly in the grocery industry, around 40 per cent of items are on promotion at any one time, so it’s a massive investment. By using customer science, customer data, we can really understand which are the best promotions that really drive incremental spend that customers like, and which are the promotions that really aren’t working, and really you’re just wasting money”.
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