Grocers, C-Stores and other businesses still face significant challenges in delivering a seamless, cross-channel and contextually relevant experience, especially in real time, despite its well-documented benefits to customer relationships and top- and bottom-line results.
Fine-tune Your Grocery and Convenience CDP
Acxiom offers many options for centralized housing and management of data assets including data lakes, analytics platforms, CRM, and customer data platform (CDP) services.
A Customer Data Platform (CDP) is software that collects and unifies data (such as from your POS, rewards program, QR code landing pages, click-and-collect operation, delivery partners or mobile app) about your customer in real-time to create a more holistic customer view. From this view, more intelligent decisions can be made – based on business rules and AI – about what relevant content or service each individual shopper needs.
A Customer Data Platform (CDP) has often been presented as the holy grail that checks all the boxes, but many retail marketers have been disappointed to learn that not all problems are so easily solved. In fact, according to our recent study, 98% of the respondents who have implemented a CDP said they had significant challenges implementing the solution.
It is important that grocery and convenience stores partner with customer intelligence and experience (CI/CX) experts to:
- Nurture the right data capture
- Unclog data stuck in legacy systems or third-party environments
- Cleanse, correct and complete customer data
- Stitch together fragmented data
- Enhance what you know with what your partners know, and what your customers will willingly share
- Build the rulesets for appropriate and relevant automations
- Push reconciled and enriched data across the enterprise
CDPs fall well short of delivering on their promise without this expertise. Acxiom can help your store squeeze the highest return out of your CDP investment to impress your customers by creating transformative shopping and loyalty experiences. Read more about CDP implementation pitfalls, or listen to our podcast: Help! My CDP Won’t Work
Acxiom’s CDP solution offers grocery and convenience stores a particularly compelling set of unique benefits:
- Includes a comprehensive data spine to quickly scale first-party insights to 50-75% of a brand’s customers
- Allows more relevant conversations in the moments that matter via machine learning and automation
- Maximizes insights with comprehensive buying behaviors, needs, wants and preferences
- Flexibility to leverage your retail chain's CDP, Acxiom’s native CDP, or a partner’s CDP. For example, Acxiom has partnered with Salesforce to provide data enrichment and hygiene, plus identity solutions for Salesforce CDP.
Adopt Data-Driven Creative
Relevant ads deliver greater performance and boost marketing efficiency. In a growing trend of data-driven advertising, Dynamic Creative Optimization (DCO) offers personalization at an unprecedented scale and constitutes the next-generation programmatic creative.
DCO requires extensive shopper data to feed the algorithm that selects pre-made dynamic ad variants, based on the best creative combination of elements like the geolocation of the shopper, the nearest store location, the best offer or call-to-action, the most suitable text, imagery, and character demographics.
The increased relevance, testing and optimization of these dynamic ads can boost their performance significantly compared to static ads. However, without comprehensive and accurate data available in real-time across channels, AI/machine learning cannot do its job.
Acxiom’s rAPID capabilities deliver decisions in less than 10 milliseconds, empowering platforms with the information (and precious time) they need to deliver customized, relevant, and engaging messages. The suite of rAPID Services from Real Identity includes a first-party tag, data repository and API. They are combined with turnkey management of components to achieve optimal outcomes for your brand.
Acxiom also provides a comprehensive single source of third-party audiences covering nearly all addressable U.S. shoppers with thousands of attributes and propensities as well as retail banner visitation and spend signals, which is critical for DCO, especially in channels that lack customer insights beyond basic elements like IP address (connected TV for example).