Predictive scoring is another highlighted area for improvement. Moreover, fewer than one-third are making use of 3rd-party appends. That includes almost half (47%) who report at least 15% growth in spending for the same outcomes.Īmong the report’s recommendations are to “utilize data to pinpoint and engage customers with the highest potential for conversion to paid users.” While the vast majority are using data sets such as core web analytics (95%), behavior data (89%) and email/SMS interactions (83%), more than half are failing to take advantage of data sets including point-of-sale purchases (44%), price/inventory changes (43%) and customer service interactions (42%). In fact, 86% of retail marketers surveyed for a CommerceNext report say that they’ve had to spend more to achieve the same acquisition results after Apple’s iOS 14 update. Recent privacy changes have been good for consumers, but restrictions on behavioral data usage, increases in compliance costs, and reduced effectiveness of paid social spending are leading to higher customer acquisition costs for retailers.
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