With countless brands in the market, your business must work hard to stay on customers’ lists for their next purchase. In today’s competitive context, the ‘one size fits all’ approach is no longer relevant. Therefore, brands should consider a more flexible strategy to improve customer connection, contributing to sales growth.
Why do retail businesses need to connect with customers?
Maintaining a connection with customers is an important factor for the development of the business, especially for retail businesses. Gallup statistics have shown that: Customers who interact frequently with the brand contribute more than 23% above the average customer’s spending level for that brand.
While businesses initially invest resources to increase interaction and deepen customer connections, technological support is needed to make these connections more profound and revenue-generating. Two potential tools that businesses might consider on their journey to winning over customers are: (1) The Master Channel and (2) Customer Data Platform.
The Combination of The Master Channel and Customer Data Platform
According to Harvard Business Review, acquiring new customers costs 5-25 times more than retaining existing ones. That is the reason why every business is always aware of the importance of nurturing and maintaining connections to create a connection with customers who have purchased.
With Master Channel, customers will receive comprehensive care and communicate more easily with the business. This application also helps businesses increase engagement rates to create stronger connections. Consequently, it helps retain customers long-term, build brand affection, and drive sales growth.
To fully leverage The Master Channel, businesses need to understand the existing customer profile to offer personalized marketing campaigns to serve and accurately meet their wishes. At this stage, the customer data platform is the tool providing businesses the foundational data needed to offer customers suggestions beyond their expectations.
The customer data platform is a trend among the major retailers because of its ability to consolidate online and offline data into one secure place in real-time, providing a comprehensive view of customers. The three main types of customer data include:
- Demographic data
- Behavioral data
- Transactional data
Below, you will find 3 strategies to improve customer satisfaction using The Master Channel with the help of customer data platform.
1. Increase Engagement Rate with Personalized Messages
Instead of sending mass messages with annoying ”one size fits all” content, businesses can create their own messaging campaigns with separate messages for each audience.
Businesses can use segmented profiles from customer data platforms to enhance their messaging strategy. Data will be segmented based on:
- Age and gender
- Specific behaviors or interests
- Geographic location
- Occupation or position
- Buying behavior
With specific customer segments, businesses can engage more directly with consumers, creating deeper connections with them.
For example, in the sales promotion campaign for March 8, a fashion retail business can apply a personalized scenario with a specific message for male and female customers. This approach both touches the needs of customers and enhances their sympathy for the brand.
2. Solve The Problem of Optimizing Advertising Costs for Retail Businesses
When working with large chain retail businesses such as CellphoneS, the Pango team found that businesses established for over 5 years often invested in Digital Marketing and reached a large number of customers, some of which have become leads or customers information.
Therefore, pouring money into Digital Marketing is no longer the preferred option of CellphoneS because of the high cost. It would make a lot more sense to reuse the data.
“When deploying PangoCDP, with 13 years of accumulated user data, CellphoneS can build approaching scenarios through more cost-effective direct interaction channels such as The Master Channel,” – said by Mr. Thinh Nguyen, Deputy Director of Marketing at CellphoneS.
For example: If Customer A’s data shows they previously bought an iPhone 12 at CellphoneS and are interested in iPhone 14, CellphoneS can send a message inviting them to experience the new model when it becomes available.
Besides, through the data segmentation feature, CellphoneS can create use cases in Upselling & Cross-Selling by suggesting related products.
For example, customers who have bought a laptop at CellphoneS might receive ads for related items like a mouse, mechanical keyboard, or headphones This approach helps businesses express their understanding of customer needs, create customer connections and drive sales.
3. Set Up an Effective Customer Care Scenario with The Master Channel
Deeply engaged customers often generate steady profits and bring long-term value for the business. This cohesion can be built through unforgettable experiences at The Master Channel of the business.
Some retail businesses such as Couple TX have applied PangoCDP to collect customer satisfaction data after shopping at the store on The Master Channel – Zalo.
Moreover, Lucky Wheel is a popular activity used by many retail stores to attract customers and increase sales. With The Master Channel, such campaigns only take about 3-5 days to operate fully automated with comprehensive reports on effectiveness from Online to Offline.
Looking ahead, these programs not only improve and enrich customer experiences but also enhance data sources for future sales campaigns through The Master Channel.
Starting from 2016 with the concept of Online to Offline (O2O) – a platform measuring the impact of online ads on offline store sales. PangoCDP has evolved through many upgrades to offer solutions that directly boost sales.
Believing that the more you invest in customer interaction, the more sales grow, PangoCDP initiated the concept of ”The Master Channel” , helping businesses connect with customers such as connecting family and friends.
Combining a Customer Data Platform (CDP) with The Master Channel, PangoCDP brings interactive scenarios that are easy to apply in marketing, sales and customer care campaigns, helping “major” FMCG and Retail such as Nutifood, AB Inbev, VitaDairy, CellphoneS, Mykingdom, TBS Retail, Couple TX, Yody and more achieve explosive revenue growth.
If you’re interested in The Master Channel and PangoCDP for breakthrough revenue results, contact us at: hi@bytetech.io
Not only data exploitation strategies, but also detailed marketing campaign implementations for businesses based on data orientation and much new knowledge around The Master Channel will be presented in detail in The Main Interaction Channel – The Master Channel, Volume 1.
Six chapters of the book will guide readers through the impressive development journey of interaction methods between businesses and customers.
From the most primitive forms to multi-dimensional interactions in the smartphone era, the book will present successful stories along with leading global brands in boosting revenue by enhancing customer experience, explaining the success of The Master Channel concept when applied at two leading Vietnamese companies, Nutifood and CellphoneS.
The book is now available at Fahasa, Phuong Nam, Hai An, Ca Chep bookstores, and online at 24h bookshops and e-commerce platforms like Tiki, Shopee, and TikTok Shop. You can also quickly order the book here: https://i.o2o.vn/H767
