Retailers have critical, short-lived moments, such as the holidays, back-to-school, or season changes, to collect rich data about the customer journey. These moments help retailers capture insights about what brings shoppers in, drives their curiosity, and leads them to a purchase.
But what happens next is critically important. Retailers can use the consented data to fuel growth and drive engagement – not just for themselves but also for brand partners too.
In this episode of “Here’s the deal…,” Kevin Dunn, Head of Retail CPG at LiveRamp, breaks down how retailers and their brand partners can benefit from seasonal shopping insights, and the three actions to take.
“All the insights that you collect during this intent shopping period are so valuable to brands that do not have direct access to first-party data,” he said. “You can bring them insights that will drive so many use cases.”
Watch now to transform seasonal shoppers into year-long or lifelong customers and create brand partnerships that last.
There are specific times a year when retailers have short windows of time to collect rich datasets that will fuel their growth for months and years to come. My name is Kevin Dunn. I lead retail CPG at LiveRamp, and here’s the deal.
There are multiple times during the year where these rich windows open up. It could be the holidays. It could be back to school. It could be a season change.
During these windows, retailers see most, if not all, of their shoppers. And when this happens, they collect these rich datasets that look at the full customer life cycle. What brought them to the store? What fueled that customer journey from the point of discovery through the phase of curiosity and research to that endpoint where they showed the most intent and either came into the store or added that to their shopping cart.
After these windows of time, retailers need to think about how can I use this data to engage with my partners? All these insights that you collect during this intent shopping period are so valuable to brands.
These brands do not have direct access to first party data, and you can bring them insights that will drive so many use cases for them. A great example of this is the holiday season. During holiday seasons, many, many shoppers interact with brands and retailers for the very first time. And maybe, for example, what I’m gonna do, buy a toy for the child for the first time.
Maybe it’s something like a Lego. And how do I make sure that that Lego purchase during that season turns to a year long, a lifetime engagement on LEGOs? This is why insights and the data collected during this time is so key to personalizing the consumer journey. You know, we often hear that the journey is one to one or how do I have this one to one engagement with the consumer.
It’s from the rich data collected during these shopping windows. So what do I do as a retailer to make that happen? I wanna collect that data and put it in a place that’s easy for me as the retailer to use, leverage, and create insights. I wanna bring it to my partners with a strong point of view about how they use it.
How do they create their own insights and their own understandings of that data? And I wanna make it very easy for them to action on the insights and the understanding they derive from that data. How do you take advantage of these windows in time that can close so quickly? Step one, ensure you have a good strategy.
How are you collecting this data, and how are you gonna present it to your partners? Step two, do you have the right technologies and the right data partners that ensure that you can deliver it safely, securely, and quickly?
Step three, act fast. These windows of time are short and you want to be able to take advantage of it quickly.
