Retailers have long recognized the value of a single customer view, but the emergence of multichannel research and shopping has made achieving that ideal more difficult. Today’s consumers hopscotch across online, in-store, call center, social media, mobile, and other channels—how can retailers keep up?
If you have a single view of your retail customer, you can assess channel buying preferences and tailor marketing accordingly. You can deliver the personalized and consistent experience that discriminating consumers expect across all touchpoints. And you can take advantage of the unique cross-sell and up-sell opportunities that multichannel environments offer.
For instance, if Jane buys a $2,000 leather couch in a store and you can match her information to the email address she registered three months earlier at your Web site, you’re in a great position to pitch matching pillows with a personalized email.
But, as outlined in a new Informatica executive brief, siloed data systems for point of sale (POS), e-commerce, call centers, and more make it difficult for retailers to achieve a single customer view. The brief includes survey results from a leading research organization, including the following statistics:
- 92 percent of retailers don’t integrate customer data from all channels
- 68 percent of companies cite improving customer data integration as a top priority for 2010
- Less than 25 percent of retailers extend personalized loyalty programs across all channels
Retailers are turning to master data management (MDM) to address the problem. With MDM, all customer data across different applications can be synchronized into a centralized location to deliver the single customer view. With continued economic uncertainty in retail creating the need for competitive advantage, and the challenges and opportunities of the multichannel phenomenon, retailers can’t afford not to size up their options.
Learn more in the executive brief, “Gaining a Competitive Advantage by Better Managing Customer Information in a Multichannel Retail Environment.”