56: Johann Wrede of SAP on Personalization and Your Brand
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The introduction of new technology and devices brought with it an abundance of information that allowed consumers to take control of their own buying decisions without the need for brand guidance/influence. However, successful brands have the ability to take back that control, by using the right technology to analyze individual spending behavior of their customer base and pin point loyal and revenue-driving customers to continue targeting, avoiding those who might cause more work than they’re worth (making constant returns, minuscule but timely complaints, etc.). In order to do so, brands need a robust system in place that helps to collect consumer data and spending behavior for in-depth analysis. Once target customers are identified, brands will still need to meet heightened customer expectations by leveraging purchase data for individual contextual marketing in order to identify buying patterns in real-time and tailor marketing collateral based on what customers might be looking for when browsing the site…