Customer Data Platform & E-Commerce

Transforming your business with Marketing Science, Big Data and A.I
1) Why Customer Data Platform (CDP)?
2) How to implement the CDP in practice ?
3) What are key functions of CDP to improve your profit model ?
4) Should we build CDP or buy ?

Transcript

1. Customer Data Platform & E-Commerce Transforming your business with Marketing Science, Big Data and A.I Presented by: Nguyễn Tấn Triều (Thomas) Founder of BigDataVietnam.org Email: tantrieuf31@gmail.com FB: https://facebook.com/tantrieuf31
2. AGENDA Why Customer Data Platform (CDP)? Gig Economy Platform, Omni-Channel Retail and Artificial Intelligence How to implement the CDP in practice ? 4 steps in USPA as logical framework to implement your own Customer-first Marketing Strategy with CDP What are key functions of CDP to improve your profit model ? CX Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Media Cost Optimization Should we build CDP or buy ? 1. 2. 3. 4.
3. WARM UP QUESTION 1 When customer data was first collected ? What company implemented CDP successfully in e-commerce ? Why will business need CDP in next 10 years ? 2 3
4. Collecting customer data first happened in the market (chợ)
5. However, the way people collect customer data changed over the time .... Source: https://www.amazon.com/Predictive-Marketing-Marketer-Customer-Analytics/dp/1119037360 Industry 4.0
6. Source: https://www.amazon.com/Predictive-Marketing-Marketer-Customer-Analytics/dp/1119037360 Customer-first Product-second
7. WARM UP QUESTION 1 When customer data was first collected ? What company implemented CDP successfully in e-commerce ? Why will business need CDP in next 10 years ? 2 3
8. pioneered implementation CDP in E-Commerce Amazon started developing their Recommender System from the beginning. Source: https://www.quora.com/What-is-the-best-customer-data-platform https://www.bigdatavietnam.org/2019/09/how-to-build-personalized-news.html
9. WARM UP QUESTION 1 When customer data was first collected ? What company implemented CDP successfully in e-commerce ? Why will business need CDP in next 10 years? 2 3
10. AI, Data Analytics, Cloud, IoT & Digital Transformation are predicted as the game-changing technologies Source: 2019 Gartner CIO Survey, n=2,835 Question: “Which technology area do you expect will be a game changer for your organization?” * * Multiple responses allowed
11. Customer Journey Analysis, Customer Need Analysis & Digital Marketing Analytics are the top requirements from business Source: Gartner Investment in customer analytics (Q04,Q05) exclude unsure, n=142 Question: “Thinking about your organization’s customer analytics priorities, which will be the focus in 2018?” Multiple responses allowed
12. https://bit.ly/bdvn-cfm https://bit.ly/bdvn-cdp-intro https://bit.ly/bdvn-uspa-intro
13. AGENDA Why Customer Data Platform (CDP)? Gig Economy Platform, Omni-Channel Retail and Artificial Intelligence How to implement the CDP in practice ? 4 steps in USPA as logical framework to implement your own Customer-first Marketing Strategy with CDP What are key functions of CDP to improve your profit model ? CX Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Media Cost Optimization Should we build CDP or buy ? 1. 2. 3. 4.
14. 3 Digital Transformation Trends Driving Industry 4.0 TREND #1 TREND #2 TREND #3 Social Media & Gig Economy empower customers Customer-centric business model Customer Experience (CX) Strategy The age of Continuous Connection with Customer (Omni-Channel Retail) The age of Artificial Intelligence Unified Customer 360 Analytics Big Data Strategy Business Automation AI Strategy
15. Social Media & Gig Economy empower customers Customer Experience (CX) Strategy TREND #1 Social Media Gig Economy Customer-centric business model
16. Customer-centric Marketing Model Social Media & Gig Economy empower customers TREND #1
17. 1. The age of Continuous Connection with Customer (Omni-Channel Retail) TREND #2 • Tiki improve services • The author improve their book for later editions Unified Customer Analytics on omni-channel Big Data Strategy
18. The age of Artificial Intelligence for Marketing Context Detection & Segmentation TREND #3 AI Strategy Scanning article content and images Arts & Entertainment Celebrities News Autos & Vehicles Beauty & Fitness Books & Literature Business & Industrial Computers & Electronics Finance Food & Drink Games Health Hobbies & Leisure Jobs & Education People & Society Pets & Animals Real Estate Science Shopping Sports Travel Homecare Internet & Telecom Fashion & Style TAG [ { "name": ”female”, "confidence": 0.9997857 }, { "name": ”kid", "confidence": 0.955619633 }, { "name": ”cleaning", "confidence": 0.953807831 }, { "name": ”floor", "confidence": 0.9515978 }, { "name": ”living room”, "confidence": 0.889862537 }]
19. The age of Artificial Intelligence for Marketing Customer Emotion Detection at shopping store TREND #3 AI Strategy
20. Customer Experience (CX) Strategy Big Data Strategy A.I Strategy Customer data platform (CPD) is A MUST to apply 3 key strategies CUSTOMER DATA
21. Recommended books to understand 3 previous key ideas https://www.cambridgescholars.c om/customer-centricity https://connected-strategy.com https://connected-strategy.com/wp- content/uploads/2019/03/Fitness-G yms.pdf https://www.agilone.com/predictive-marketing-book Customer-Centricity Connected Strategy Customer Data Platform
22. Why CDP ? 1. Understand the market conditions by implementing data-driven marketing 2. Understand customers better by continuous customer listening and profiling 3. Control your online reputation by doing data analytics in your owned media 4. Cost savings by reducing time for reporting due to simple single-view dashboard 5. Marketing Automation with A.I for large-scale personalization to reach better profit
24. AGENDA Why Customer Data Platform (CDP)? Gig Economy Platform, Omni-Channel Retail and Artificial Intelligence How to implement the CDP in practice ? 4 steps in USPA as logical framework to implement your own Customer-first Marketing Strategy with CDP What are key functions of CDP to improve your profit model ? CX Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Media Cost Optimization Should we build CDP or buy ? 1. 2. 3. 4.
27. USPA framework to build CDP for data-driven marketing & sales
28. https://bigdatavietnam.org/2019/09/uspatech-open-source-framework-to-build.html Core modules of USPA framework
29. Key Data Entities in USPA framework
30. How to apply CDP and Recommender System together
31. Unify Customer Data into Single-view Information is the key function of CDP
33. The final goal of Identity Resolution: Deduplicate customer profiles from multiple channels
34. For data onboarding, CDP needs a Tag Management Data Collection
38. Customer Persona Prediction and Journey Map
39. Customer Profile Details
40. AGENDA Why Customer Data Platform (CDP)? Gig Economy Platform, Omni-Channel Retail and Artificial Intelligence How to implement the CDP in practice ? 4 steps in USPA as logical framework to implement your own Customer-first Marketing Strategy with CDP What are key functions of CDP to improve your profit model ? CX Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Media Cost Optimization Should we build CDP or buy ? 1. 2. 3. 4.
41. How to enhance the profit of your business with CDP? 1. Optimizing media touchpoints (Relevance) using Personalization Analytics 2. Improving customer experience (CX) using Design Thinking Analytics 3. Improving customer retention (Loyalty) using Predictive Marketing Analytics 4. Maximizing customer lifetime value (CLV) using Customer Journey Analytics 5. Reducing customer acquisition cost (CAC) using Media Data Analytics Profit Model 4.0 { f(relevance) X f(CX) X f(loyalty) } + f(CLV) - CAC A true fan with social media can co-create value for your business growth
42. (1) Optimizing media touchpoints (relevance) with customer personalization
43. Popular media touchpoints group by demographics
44. (2) Optimizing customer retention (loyalty) with predictive marketing analytics
45. How does predictive marketing analytics work ?
47. Sentiment Analysis can help to predict “Customer Churn”
48. (3) Optimizing customer experience (CX) with service design mindset https://towardsdatascience.com/a-design-thinking-mindset-for-data-science-f94f1e27f90
49. (4) Optimizing customer lifetime value (CLV) with customer journey analytics
50. Tracking all customer interactions could improve customer services
55. https://hbr.org/video/2235625008001/a-better-way-to-measure-your-ad-campaign Customer Data Platform is a MUST-HAVE technology for better business outcomes
56. Case Study in Amazon How Amazon optimized profit model with CDP? Key of profit
57. The profit model of Amazon
58. How Amazon built such great Customer Experience with CDP Programmatic Ad Tech Metric: Total Lead Branding and Usability Metric: Total Order Search Engine Optimization(SEO) Metric: Keyword Ranking Social Media + Affiliate Network Metric: User Engagement
59. E-Commerce Customer Journey
60. What are the major drivers of e-commerce (EC) growth ?
61. Customer Sales Activation in retail domain
62. The Omnichannel Purchase Journey https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/consumer-business/unlocking-the-power-of-the-connected-consumer.pdf
65. From CDP to Practical Business Value 1. On-time Delivery Analytics → Customer Satisfaction 2. Sentiment Analysis → Customer Loyalty 3. Service Quality Analytics → Customer Experience 4. Personalization Engine → Customer Engagement 5. Market Basket Analysis → Customer Lifetime Value
66. Augmented/predictive analytics Increase analytics productivity to focus on better Customer Experience insights. Customer segmentation Identify, reach and communicate with specific groups of like-minded customers. Recommendation engines Increase retention and conversion by offering highly individualized digital experiences based on historical activity and preferences. Customer journey orchestration Reach the right customers at the right time and on the right channel to offer the optimal experience and maximize conversion Practical use cases of CDP at Amazon
67. Amazon is the Unified Commerce Platform with CDP
68. AGENDA Why Customer Data Platform (CDP)? Gig Economy Platform, Omni-Channel Retail and Artificial Intelligence How to implement the CDP in practice ? 4 steps in USPA as logical framework to implement your own Customer-first Marketing Strategy with CDP What are key functions of CDP to improve your profit model ? CX Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Media Cost Optimization Should we build CDP or buy ? 1. 2. 3. 4.
69. Should we build CDP or buy ?
70. Should we build or buy CDP? Build when you have ... Buy when you have ... • Data Scientists in-house • Strong data engineering team with availability • Pieces of CJA solution already in place • No data scientists in-house • Data engineering team lacking or stretched thin • Lack of customer analytics tools
71. Several available CDP products Open Source CDP For education, learning and small business Free Customer-first Marketing Platform For New Generation Of MARKETER in the age of Industry 4.0 What if an innovative product is built by Vietnamese ? • https://github.com/bigdatavietnam-org/USPA.tech • https://unomi.apache.org Enterprise CDP For highest security standard For product support 24/7 For scalability and the quality of predictive marketing analytics • http://www.netscoretech.com • https://www.resulticks.com • https://www.agilone.com • https://exponea.com • https://www.blueconic.com • https://tealium.com
72. Key takeaway
73. https://bit.ly/bdvn-cfm https://bit.ly/bdvn-cdp-intro https://bit.ly/bdvn-uspa-intro
74. CDP = Data + Smart Decision + Scalable Delivery
76. Thank you! https://BigDataVietnam.org facebook.com/bigdatavn tantrieuf31@gmail.com