A recent Merkle report highlighted the urgent need for brands to provide a superior customer experience. According to the research, 66 percent of consumers surveyed rated experience ahead of price when it came to making a purchase decision. Furthermore, 52 percent said that they left a website while shopping because of a poor experience.
A 2019 Harris Poll commissioned by Redpoint produced similar findings, with 37 percent of consumers saying that they will not do business with a brand that fails to deliver a personalized customer experience.
While satisfying consumer expectations for a superior experience, brands must also hide complexity from the consumer, itself a significant challenge. In the Harris Poll survey, for instance, 63 percent of marketers said that they struggle to execute personalization strategies, with close to 40 percent attributing martech stack complexity as the top barrier to their ability to bridge the gap between strategy and execution.
The consumer, however, rightly has no concern about the configuration of a martech stack, or how many systems must be integrated to provide a seamless experience. Siloed systems and data do not excuse a sub-optimal experience; introducing friction for any reason – a mis-identified person, a mis-timed offer, irrelevant content – will drive a customer to a competing brand.
A challenge for many organizations amid an increased competition to deliver a superior customer experience, particularly small-to-medium sized enterprises, is that taming complexity and breaking down siloes often requires more resources than are at their disposal. Resource constraints often hamper their ability to access data, rapidly change customer journeys, and tune marketing programs to hit revenue targets – which in turn limit their capability to deliver contextually relevant offers and messages as part of a superior customer experience.
Adapt to Changing Customer Behaviors
For many organizations, the need to compete on customer experience precludes a months or years-long implementation of a customer data platform (CDP). Small to midsize enterprises are particularly susceptible to a lack of resources, and in many cases are even less prepared to withstand a thinned-out customer base than larger competitors.
In addition, with consumers beginning to alter their purchasing habits in accordance with coronavirus stay-at-home directives – including more online buying or buy online, pick-up in-store (BOPIS) activity – organizations do not have the luxury of time to adapt to rapidly changing consumer behaviors.
The Redpoint SaaS Delivery Option was designed to provide organizations with the capability of delivering a superior customer experience with a rapid deployment and quick time to value. An enterprise-ready CDP and best-in-class security precautions set the Redpoint SaaS Delivery Option apart, differentiating from channel-centric and list-based solutions offered by the majority of marketing cloud vendors. A “CDP” label from a marketing cloud vendor, in other words, is often just a combination of point solutions that does little to eliminate customer data siloes.
A Quick Time to Value
The Redpoint SaaS Delivery Option offers a standardized data model and pre-configured marketing channels to facilitate omnichannel engagement and a quick time to value for delivering a personalized customer experience at scale, with best-in-class security and availability SLAs.
The pre-configured marketing channels include SMS, email, social, direct mail, and a preference center – facilitating omnichannel engagement. Additionally, real-time decisions and reporting provides the ability to deploy dynamic content on digital channels such as websites and landing pages, and campaign templates provide a series of preconfigured customer journeys – from welcome to cross sell and retention programs.
Built on the Microsoft Azure cloud platform, the Redpoint solution helps marketers achieve higher value more rapidly with limited IT support required – with implementation measured in weeks rather than months or years.
Security precautions include Redpoint leveraging its own enterprise grade cloud-based security capabilities for effective authentication, encryption, and monitoring, as well as using cloud-native intelligence to improve threat detection and response time. By sharing responsibilities with the cloud provider, Redpoint takes advantage of a more robust security coverage – remaining solely responsible for protecting the security of the data, accounts, and identities – not hosts, network, or datacenter.
A Single Customer View and the Next-Best Action
One Redpoint SaaS Delivery customer, a family-owned retail chain, implemented the solution to create a best-in-class BOPIS service and improve real-time product recommendations. It modeled its deployment after another Redpoint customer’s success building a BOPIS service with a 99 percent cycle time compression from gathering data to generating a next-best recommendation.
Real-time personalization is enabled with the solution generating a single customer view – a unified and accurate Redpoint Golden Record that may be accessed in real time – on an automated basis by engagement systems or by in-store associates for use cases that include clienteling. An up-to-date customer profile is easily visualized from a web user interface that includes everything there is to know about a unique customer – from name, address, and email to social profiles and key metrics such as lifetime customer value, behavioral data, and detailed marketing and transaction history.
This view empowers marketers to easily determine a next-best action that is in the context and cadence of a customer’s unique journey. In a BOPIS use case, for instance, immediate access to a customer profile that is updated in real-time ensures that a marketer will always be in synch with the customer. An online transaction could then generate an in-store offer for one accessory over another based on the customer’s behavior between purchase and the in-store pick-up.
There are many reasons why a SaaS-enabled CDP remains the most viable option for an organization. The Redpoint SaaS Delivery Option covers all the bases with a pre-packaged solution for organizations to provide customers with a superior experience without a years-long implementation that is often at a slower pace than changing customer behaviors.
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