Study: Identifying customers poses a challenge to retailers
Retailers are using customer identification technology, but not always in the right way.
According to a new study from customer data management solutions provider OneMarket and WBR Insights, “How Retail Marketers Use Customer-Focused ID Management to Increase Satisfaction & Profitability,” a majority of retailers (58%) are currently using identification (ID) management technologies. However, more than half of those say it’s still a developing part of their business. Another 35% of retailers are considering adopting these technologies in the future.
Some additional key findings include:
- Single customer view is a challenge without offline CRM data. Almost six in 10 (57%) retailers are still not onboarding offline CRM data as part of their ID management program, limiting their ability to get a holistic, omnichannel view of their customers.
- Retailers struggle to identify their customers. Roughly two-thirds (64%) of respondents identify 50% or less of their website visitors, and one-quarter (26%) can only identify a customer if they make a purchase.
- Current technologies are disconnected. Almost four in 10 (38%) retailers struggle to build a better understanding of their customers because their technologies do not efficiently facilitate data integration and enrichment.
- Integrating offline CRM data drives gains in customer insights and predictive intelligence. Among retailers that are onboarding offline CRM data as part of their ID management, most will use the data for customer insights and predictive modeling (51%), and for website personalization (51%).
In addition, nearly half of retailers (48%) are prioritizing the adoption of deep learning technology to improve their own marketing methods, expectations and goals in 2020.