Consumer Holiday Expectations Are In

Consumer Holiday Expectations Are In

By David Daniels, CEO and Founder – The Relevancy Group

This week we had our annual Consumer Holiday Behaviors and Attitudes Webinar which was as always was sponsored by Zeta Global. The event was full of data and featured excellent discussion and insight from Zeta’s Tim O’Leary.  You can watch the webinar on demand here.

Some of the interesting findings include:

  • Consumers utilize email every day, 89 percent of them are checking their email daily. Email remains our digital fingerprint and shows no sign of being replaced by other communication modalities.
  • Mobile dominance is increasing. Forty percent of consumers state that their primary email device is their mobile phone and 26 percent state that it is their primary online shipping device. Retailers must ensure that their messages and websites are optimized for mobile viewing.
  • Self-gifting is up year-over-year from $264 in 2017 to $279 in 2018. Retailers should be utilizing BOGO offers and messaging that encourages to be self-indulgent.
  • More consumers intend to shop on Cyber Monday. Eighteen percent report that they are going to do most of their holiday shopping on Cyber Monday which is up about ten percent from last year.
  • Women are more engaged on themed shopping days, nearly half of women state that they will do most of their shopping on Black Friday as opposed to 39 percent of men. Fourteen percent of women say they will do all their holiday shopping on Black Friday.
  • On average consumers will comparison shop across three sites; but 20 percent of consumers state that they don’t do any comparison shopping. On the webinar we discuss the reasons why that is, one of them being the impact of Amazon Prime as increasing spot for buyers to go to.

There are many more findings, tactics, and tips including how to leverage mobile real-time data to improve the customer experience.

Tune in and check out this wonderful webinar.

Wishing you success this holiday season!

All the best,

David

 

The State of Personalization

The State of Personalization

Which industries are embracing personalization and what are they spending to do so? I recently authored four reports that dive into how B-to-B, ecommerce/Retail, Financial Services, and Travel/Hospitality marketers are embracing personalization.

Part of our Relevancy.AI Research Subscription, these reports provide insight into the state of personalization including the aspirations, budgets, and tactics of these marketers.

This collection of industry insights offer benchmark data for those marketers in these key industries and a valuable perspective for vendors that offer personalization technologies.

Across industries, one thing is clear; personalization works and more marketers across industries need to advance their targeting tactics to capture and convince prospects and clients alike.

If you are a subscriber to our research, you get these four reports.  Ask us about how to become a subscriber. All of the reports are available for one-off purchases.

What do Consumers Want from Retailers This Holiday Season?

What do Consumers Want from Retailers This Holiday Season?

To better understand purchasing motivations, attitudes and behaviors, The Relevancy Group and Zeta Global are conducting a survey of 1,000 consumers in the U.S. We will be sharing these results and last-minute holiday recommendations on Wednesday 11/14 at 1 PM. Register for the webinar and get a link to a recording of the webinar that will be filled with data and recommendations.

Looking Back on 2017
In 2017 just 15 percent of consumers stated that they planned to spend more on holiday spending than they did in 2016 while 64 percent stated about the same as year over year. While the economy in 2018 is good, Chinese Import tariffs are raising prices at big-box retailers, i.e. Walmart, that rely on offshore goods. This likely won’t impact overall spending, but the consumer’s dollar may not go as far in 2018 as it did last year. In 2017 consumers under the age of 39 were more likely to spend more on holiday purchases a trend we expect that we will see again in 2018.

Consumers continue to shift their holiday spend online. Last year 56 percent of consumers stated they would do half or more of their holiday shopping online. Overall ten percent of consumers shop exclusively online, a trend we expect will grow to 12 to 14 percent in 2018. Last year consumers aged 27-53 are most likely to do the majority of their holiday shopping online.

Year-over-Year Consumers are consistent with their holiday shopping plan, with 29 percent already shopping for the holiday season. Eighteen percent start after Halloween and the majority start after Thanksgiving. Last year 20 percent stated they have no set plan. Half of women start their holiday shopping before Thanksgiving a trend that we expect to continue to see this year.

Holiday self-gifting was up year over year from 2016 to 2017 increasing from $243 to $264. We will likely see an increase again in 2018, but we don’t expect it to be as large in years past. This is likely because of the higher cost of products and the general impact of the dollar.

Next time we will look back on what motivates consumers to purchase and what opportunities exist for marketers this 2018 holiday season.

Join us on November 14, at 1 PM ET for the 2018 consumer holiday results.

Until next time,
David

Take Off, Let Email Automation Do the Work for You

Email Automation ImperativeAs we enter the Labor Day weekend, I am reminded of how hard email marketers work.  Earlier this year we published “The Email Marketing Automation Imperative,” and we found that marketers automate just thirty percent of their email marketing messages.  While this has increased year-over-year the data indicates that email marketing remains labor intensive.

The research answers these key questions:
• How are marketers embracing email automation?
• How does email automation transcend triggered mailings in 2018?
• What role does real-time data have in automation and does such an approach make a difference?

The research’s key findings:
Triggered email marketing utilization increased slightly year-over-year. Of those marketers utilizing triggered mailings, the majority automate less than 30 percent of their email efforts. Triggered mailings are ideal for customer journeys that have pre-set events or actions. Email automation transcends triggered mailings. Many ESPs have advanced to deliver solutions that leverage real-time data, which personalize the customer experience at the individual level. Given these solution enhancements, marketers must think about email automation more broadly and data indicates that they are. When asked about their top email marketing tactics, targeting email subscribers with online advertising was No.2 on their list. Email automation via real-time data creates head-count efficiencies, but also improves effectiveness. Email automation via real-time data outperforms a traditional segmented email send.

Buy the report or get it with a subscription.  Enjoy a well-deserved labor day holiday weekend!

The ABCs of CDPs Part III – “How?”

In the third installment of our introduction to CDPs, we’re going to take a high-level look at how enterprise marketers use CDPs by examining the specific data sources that they are integrating with them.

[We’ll dig deeper into the topic in a webinar scheduled for September 5th @ 1PM ET; please join us then if you’re interested in learning more.]

tensystems

  • CRM Data – As the cornerstone of many marketer’s data-driven marketing efforts, CRM data and CRM systems top the list as the most integrated into CDPs for both B-to-C and B-to-B marketers. Customer Profiles and Demographics – Integrating customer profile and demographic data is critical for marketers across verticals and sectors. A primary benefit of the CDP technology is the ability to efficiently manage these assets.
  • Customer Online Spending – Online spend data, especially when updated in real-time, is highly valuable for most marketers. The ability to normalize and syndicate this data to other systems is important to both B-to-C and B-to-B marketers.
    Customer Service/Support Information – Service and support data is often dynamic and can live in a wide range of systems. Those marketers that integrate into a CDP make the data readily available to key customer stakeholders.
    Website Behavior – Another cornerstone for many marketers, real-time website data can be some of the most valuable when targeting users with personalized messaging.
  • Email Marketing Response Data – Email response data is underutilized in many marketing organizations. But over one-third of B-to-C and B-to-B marketers who have implemented a CDP, feed it with email response data.
  • Digital Advertising Response Data – By efficiently integrating digital response data into their CDP, marketers across sectors are better able to monitor the efficacy of paid media efforts and attribute sales to the channels and campaigns that drove them.
  • Customer Offline Spending – To gain a complete picture of the customer journey and to more accurately measure marketing effectiveness, nearly one-quarter of B-to-C and more than 25 percent of B-to-B marketers integrate offline spending.
  • Mobile Behaviors, Including App Utilization – As more marketers conduct more commerce through mobile apps, this data has become more critical to marketers of all stripes.
  • Previous Marketing Offers – The artificial intelligence and machine learning algorithms that drive some of the data orchestration and personalization from CDPs are informed by data from previous marketing offers. The timelier the information, the more useful/effective.

Join us on September 5th to learn more and download a copy of the research here.

The ABCs of CDPs Part I – “What?”

I’ve spent the past three months digging into Customer Data Platforms – speaking with marketers who use them and examining the vendors who supply the technology and services to enable them. Over the next three days, I’ll share some of the key findings of our research and answer some key questions about the role of the CDP in the enterprise marketing stack.

In Part I, “What is a CDP?”

In a relatively short period of time, Customer Data Platforms have carved out a dynamic, new, and expanding space for themselves, within the enterprise marketing stack. Although the term was coined as early as 2013, it is primarily over the past 18 months that vendors have embraced the moniker and marketers have realized the distinct value proposition that a CDP brings to the table.

CDPs enable marketers to:

  • Join and Combine Data – Marketers who are facing increasing volumes of useful customer data are increasingly turning to CDPs to help them join and integrate these often disparate and unnormalized customer data sources to make them more easily available for marketing applications – targeting, personalization, measurement, to name a few.
  • Create and Manage Profiles – CDPs can help marketers navigate the waters between known and unknown users through various probabilistic and deterministic identity methods. This enables CDPs to stitch together user profiles to more accurately identify and address people as individuals across channels and devices.
  • Enrich and Augment Data – While primarily focused on first-party data, CDPs can help marketers enrich data on a continuous basis by incorporating a variety of sources and efficiently augmenting these to ensure accuracy and usefulness to other systems across the enterprise.
  • Syndicate and Activate Audiences – CDPs help marketers identify the appropriate customers and prospects to address through both paid and organic methods across online and offline channels. By using a CDP to inform audience selection and content recommendations, many marketers can individualize more campaigns at a more precise level, driving increased response rates and more efficient paid media spend.

The Relevancy Group defines Customer Data Platforms as data management solutions specifically designed for marketers that enable a view of the customer that is:

  • Holistic: Able to interface with and encompass the wide array of data sources available to marketers today.
  • Integrated: Able to map and tie those diverse data sources together seamlessly, accurately and cleanly mapping to individual people and their journeys.
  • Persistent: Providing an ongoing, evolving, always-available, always-updated data stream over time.

Put more succinctly, CDPs are HIP. The final definitional element of a CDP relates to control. A CDP gives the marketing team full mastery of data usage, control, and security. That includes determining who within the organization has access to the data integrated within the CDP, and whether and how that data gets leveraged externally.

CDPs are driving efficiency and efficacy for marketers across business verticals; in Part II of this series, we’ll dig deeper into the specifics of how and why.

If you can’t wait until then, click here to download a copy of the research right now, and feel free to follow up with me directly for an analyst inquiry if you do.

The Relevancy Group releases their new CDP Buyer’s Guide and Issue 18 of The Marketer Quarterly

The Relevancy Group releases their new CDP Buyer’s Guide and Issue 18 of The Marketer Quarterly

BOSTON – Aug. 14, 2018 – The Relevancy Group, a leading market research and advisory firmCDP Buyer's Guide today released “The Relevancy Ring – CDP Buyer’s Guide.” The research evaluates six CDPs (Customer Data Platforms) that include AgilOne, BlueConic, IgnitionOne, Lytics, RedPoint, and Tealium. Vendors are evaluated on customer satisfaction and product functionality.

The massive 35-page report also provides details on every aspect of vendor selection and market analysis on marketer trends as well as deep inspection of the platforms evaluated.

Most marketers today have more customer data than they can effectively leverage for marketing purposes,” says The Relevancy Group Vice President of Research, Nicholas Einstein, “and in many organizations, those data can be found in a wide variety of formats and is spread throughout disparate systems across the enterprise.” “CDPs can help marketers tie these data sources together and make them actionable in real-time,” he continues, “we were extremely impressed by the service and tech we saw from these six top vendors, and forecast continued growth in the space.

Some of the research findings include:
• Of those marketers that don’t yet have a CDP in place, 32% report planning on implementing one within the next twelve months
• Over 90% of marketers who have a CDP in place report that their marketing KPIs have improved since implementing a CDP
• Over 86% report that their marketing and advertising operations have become more efficient since implementing a CDP

The Relevancy Ring – CDP Buyer’s Guide is available for purchase at $2495.00 and is included in The Research Subscriber Services, that includes 24 reports annually.

The Relevancy Group will be hosting several upcoming webinars to discuss the findings. You can MQ Issue 18register for webinars at www.relevancygroup.com/event

An excerpt of the research is also included in issue 18 of The Marketer Quarterly, The Relevancy Group’s digital magazine. Register to get a free subscription to The Marketer Quarterly online or via the MQ app for any iOS, Android, and Amazon. http://www.marketerquarterly.com

Contact
Media at The Relevancy Group