Tag Archives: trusted customer information
I hosted a party last weekend. My friend Tara who works at a recruiting firm wanted to understand the value of master data management (MDM). Her firm, which operates across the country, is struggling with inconsistent and duplicate candidate information in their recruiting software.
Tara may have just placed candidate “Anita Gupta” at Company A and updated her record in the recruiting system to show that Anita was “just hired.” The recruiting firm will get their fee and Tara her bonus if Anita stays 90 days. (more…)
Retail Case Study: Printemps Department Store Builds a Trusted Customer Data Foundation with MDM and Data Quality
If you have never traveled to France, you have missed the unique and exciting shopping experience offered at Printemps, a luxury fashion retailer. Its flagship store in Paris drives 60% of the company’s revenue. More than 1.5 million customers who love fashion visit this store as well as the retailer’s 15 other high-end stores around the country.
Printemps’ goal is to cultivate long-term personal relationships with their high value customers by delivering exceptional services. Their strategy to accomplish this goal is to continuously meet their high value customers’ needs and expectations and create compelling incentives for customers to visit their stores.
Printemps’ marketing team is continually striving to be more customer-centric and improve campaign effectiveness. They are using customer analytics to segment their customers and better understand their preferences. For example:
- Which customers prefer fashion, beauty or accessories?
- Which customers prefer communications through the mail, email, mobile phone, social media channels?
Printemps has plenty of information about their 1.5 million customers. So what
was standing in their way? They lacked a 360-degree view of their high value
customers. The key culprit was duplicate customer information across multiple
I had the honor of introducing Olivier de Compiègne, who is responsible for Project Services and Customer Relationships at Printemps at Informatica World. Olivier’s main message: if your goal is to attract high value customers and boost customer loyalty, first you must invest in a solid customer data foundation.
To build their solid customer data foundation, Printemps’ team is leveraging Informatica Data Quality to ensure their customer information is as accurate and complete as possible across all key sources. They are using Informatica MDM, master data management (MDM) technology to rationalize customer information from numerous data sources to create a single customer view as well as a 360-degree customer view, which includes each customer’s purchase history.
Printemps’ solid customer data foundation is maintained on an ongoing basis, which allows Printemps’ marketing team to have confidence in the data they use for customer analytics and campaign management. Now they can truly support personalized relationships with customers and optimize their marketing by sending tailored messages to targeted customer segments.
If you are trying to cultivate long-term personal relationships with your customers and lack a 360 degree customer view, I hope Olivier’s story was helpful. Do you have similiar goals? Please share your thoughts. I’m interested in hearing from you.
- Watch the video: Printemps’ Trusted Customer Data Foundation Powers Customer Centricity Strategy.
- Review Olivier de Compiègne’s Informatica World presentation slides about how Printemps is using Informatica to build a trusted data foundation. Go to Informatica World Breakout Sessions (Return on Data) to find his presentation as well as others including: Condé Nast, a magazine publisher that uses MDM to boost subscription revenue and customer loyalty.
- Read this Blog: New Aberdeen Survey Confirms MDM’s Value For Customer Centricity, which outlines how best-in-class companies are using MDM to achieve these results: 88% customer satisfaction vs. 32% for laggard companies, 91% customer retention vs. 62% for laggard, 6% increase in net client value vs. a 9% decline for laggards available.
- View this 5-minute video, 3 Key Steps to Attracting & Retaining Customers, which explains the three key customer views needed by sales, marketing and customer service to attract and retain customers: single customer view, 360-degree view of customer relationships and the complete view of customer interactions.