Marketing to improve business and maximize customer value

In a data-rich retail environment, companies never lack data — but they often lack the ability to turn the data into business and sales. No results because there is no action? Statistics show that 95% of medium to large retail companies perform some sort of data based marketing, but few companies achieve the same effect as the previously mentioned baby brand. What is the problem? A main problem faced by enterprises is that the traditional data analysis methods cannot be integrated and applied in the face of massive data sources, and because of this they cannot produce accurate results from the data they have. They then run the risk of running their data analysis only to end up wasting marketing resources and increasing consumer dissatisfaction.

In contrast, an internationally renowned coffee brand has multiple channels of data sources such as their app, membership cards, SMS, and EDI. Through working with APEX Technologies, they hoped to make personalized recommendations by analyzing the relationship between food and beverages. To this end, the company studied data on the purchase of beverages and food of their members during the past year, and used APEX’ customer data platform to clean up more than 300 million pieces of data. During this process, different factors influenced the establishment of models and possible applications for the data, the attributes of drinks and foods were divided accordingly, after which cross-correlation was performed. After acting on the results, an analysis showed that the company’s food conversion rate increased by 46% — through scientifically analyzed personalized recommendations. After the association analysis, the user’s preference can be used not only for personalized marketing, but also for further development of the whole food segment of their product portfolio, where the analyzed data can provide scientific advice that helps create new application scenarios.

Thanks to APEX Technologies’ continuous optimization and adaptation of their technology, its enterprise customers in the service industry can be more acutely aware of consumption habits, predict consumption trends, guide production more effectively, and provide consumers with diversified and personalized products and service. Based on these remarkable results, China Chain Store & Franchise Association (CCFA), in conjunction with Microsoft Accelerator (Beijing), Plug and Play, and Bailian Science and Technology Entrepreneurship Space, awarded APEX Technologies the “2019 CCFA Retail Technology New Enterprise Award” award after carefully judging elements such as innovation, influence, development potential and entrepreneurial team.”

Considering the uncertainties of the retail industry, it is clear that data technology will bring broader and deeper impacts. More than just marketing, the future will bring consumers a better shopping experience and improve their operational efficiency. APEX Technologies will also be deeply rooted in this, and use their technology to better serve consumers, contributing to returning retail to its essence.

Source: https://mp.weixin.qq.com/s/ULpJL1KwcYK99C0zpUn37g