Monetate Event Recap: A Personalized Customer Experience
With more and more of our clients prioritizing personalization as a top initiative (and asking for our help), it’s clearly become one of the hottest topics in customer experience (CX) and digital marketing. So when Monetate, (leader in personalization platforms), invited me to be a guest at their Customer Summit last month, I jumped at the chance.
Here are a couple of highlights from the Summit:
Exciting Roadmap: CEO Lucinda Duncalfe presented her vision for the “5 Stages of Personalization.” This was closely followed by Monetate’s roadmap announcements which were anchored in their new Customer Intelligence Layer. This functionality will give Monetate’s clients a single view of the customer combining 1st and 3rd party data sources (including offline spending, see case study below) with Monetate’s native behavioral data. With this single view, marketers using the Monetate tool can design and deliver seamless cross-screen experiences that pick up where the consumer last left off and apply predictive intelligence to automatically determine the next best action, creative or offer. I’ve always advised clients to favor platforms that deliver a single view of the customer so it was great to see that Monetate has built this for personalized marketing. I’ll look forward to seeing case studies that apply predictive decisioning at next year’s summit.
Best case study: Several Monetate customers presented their personalization initiatives as case studies at the Summit. To me the most interesting was Johnston & Murphy who presented with their data partner Customer Portfolios. Unlike many of the case studies that are digital only, Johnston & Murphy (J&M) brings in offline data to enhance its personalization program. J&M takes point-of sale data capture seriously, and it’s resulted in them capturing physical addresses for 78% and email for 56% of transactions at their brick and mortar stores. Because of this investment in building their customer database, 30% of the traffic to www.johnstonmurphy.com are marketable customers in the database. The personalized experiences J&M creates for these customers have resulted in double- digit increases in revenue per session and new visitor conversion. Such a great example of using data to connect offline and online channels!
As brands prioritize personalization for investment and with Monetate and their competitors investing heavily in their roadmaps, we’re finally arriving at the era of 1 to 1 marketing that was first envisioned 15 years ago.
Interested in personalized customer experience design? Check out this article on The Customer Experience Toolbox for building a personalized and better customer connection.Tags: Customer Experience, Customer Insights, CX, Monetate, omnichannel, Personalization