Realizing your potential in the experience economy is paramount for the retail industry. Finding ways to leverage data to make every experience personal, convenient, and positive should be a top priority across every vertical.
The biggest challenge is the roundabout nature of today’s customer journey. Multitudes of touchpoints, channels, and devices intertwine, creating a difficult path for retailers to track when trying to collect and analyze behavioral data. Even then, each customer’s shopping journey can cross verticals, brands and geographies, further muddying the water.
Why context matters
Let’s look at a hypothetical. Say you are a clothing retailer who wants to know more about your customers’ behavior. Now, you’re tracking online and in-store actions, have a robust data analytics strategy, and generally are strong when it comes to customer loyalty. What can you do to improve on the experience? Add context.
Your in-store customers may have to buy food or gas on the way to your shop. Even though these interactions are well outside the scope of your branded experience, the data from them could help add context to your experience. What do their habits look like on the way to your store? After returning? This data can further augment and inform your experience to include strategic partnerships or just better know your customers and what they go through to shop your brand.
The Capgemini Data and Analytics Consortium
This entire concept all rolls up into the value of collaboration. Engaging, data-driven, and individualized experiences are extremely difficult to create just going off the internal data at hand. Context counts and can make all the difference.
Our goal in creating the Consortium was to push our clients to the forefront of the experience economy. Plain and simple, the entire point of this exercise is their success. By bringing key industry players together, learnings and data are shared with the hope of driving each member’s business forward.
With five original members, we are crafting the vision for this data-driven contextual model. We want to quickly ascertain what it will look like, and what kind of transformative power it can have. In this spirit, we welcome all clients that want to bring their data to the table, learn from industry leaders, and add invaluable context to their customer experience.
To engage with the Capgemini Data and Analytics Consortium, please contact email@example.com.