August 19, 2020
15 reasons retailers choose Lexer as their CDP partner
With hundreds of emerging vendors, selecting the right CDP partner can be tough. When in doubt, why not ask your customer-centric peers how and why they chose their Customer Data Platform over the competitors? Here are 15 reasons retailers choose to partner with Lexer and continue to renew year after year.
1. Lexer is proven to grow top-line revenue.
The number one reason customers choose Lexer? Results.
Because our Customer Success team’s KPIs are linked to your key outcomes defined during the quarterly business review processes, we have a vested interest in helping you succeed, and we go out of our way to do so. With a level of care and commitment unique in the SaaS industry, our support team makes sure that you’re set up with the technical know-how, process efficiencies, actionable insights, and transformational mindset you need to use the Lexer platform for a maximum return.
For example, Mountain Khakis increased total customers by 47 percent year-over-year and sales by 49 percent year-over-year during Black Friday sales using Lexer’s CDP. In addition to strong Black Friday growth, they ran targeted growth campaigns to drive customer loyalty which reaped a 7.1 times return-on-ad spend from customers who’d made their first purchase only 2 to 4 weeks prior. By working with Lexer to inform personalization and targeting, Mountain Khakis was able to turn recent one-time buyers into two-time buyers, fast, boosting their lifetime value and driving profitable growth.
This is just one of the many customer case studies that demonstrate tangible revenue growth as a direct result of the customer’s engagement with Lexer.
2. Lexer empowers brands to drive customer-centric transformation.
Retail and commerce are evolving faster than at any point in human history—ever. But the one thing that hasn’t changed is the importance of focusing on the customer.
The breadth and depth of the Lexer platform, facilitated by our strategic consulting and ongoing support services, enable even small, resource-strained brands to drive transformative change throughout their organizations. This change from outdated, channel-led business models to the customer-centric model of the future is the key to success for every brand and retailer. With the ability to self-serve insights to genuinely understand the customer, businesses are better equipped to serve, adapt, and grow in the modern world of retail.
“Our customers are at the heart of everything we do and having a more holistic understanding on how, why and when they are shopping with us enables us to not only better serve their needs, but increase our customer satisfaction as a whole,” says Alexander Meyer, Chief Marketing Officer of THE ICONIC.
To learn more about THE ICONIC’s experience with the Lexer CDP, click here.
3. Lexer’s team offers unrivaled support.
Customer-centric transformation is a journey, and technology will only take you so far. Teams, processes, and cultures must also adapt to reorient a business around the customer—but the fact is that growing businesses don’t always have the available resources or experience to drive internal change in this way.
That’s where Lexer comes in. With years of experience in consumer-focused industries, Lexer provides the services and strategic consulting you need to drive results, fast. Designed to fill any gaps in your team ensuring a smooth, successful CDP adoption, the breadth, depth, and quality of our services are unique to the industry.
From implementation to day-to-day product usage to continuous optimization, the full scope of your Lexer engagement is facilitated by our talented team, as much or as little as you need.
For example, in the wake of the massive shifts in consumer behavior caused by the COVID-19 pandemic, Lexer helped Brand Collective dig into the data to identify opportunities and risks moving forward.
“Because Lexer acts not only as our CDP but also, in effect, marketing consultants with the expertise that the team has across different brands in the industry, they have full visibility of our unified data as well,” says Patrick Rechsteiner, General Manager E-Commerce at Brand Collective. “So what we were able to do early on [in the COVID-19 pandemic] with the team at Lexer is drive out a list of recommendations and insights that were separate from what we’d driven out by our own analysis…. There were a huge amount of new ideas and fresh insights as a result.”
4. Lexer uses cutting-edge AI and predictive analytics to grow customer lifetime value.
Knowing that about 80 percent of your revenue comes from only about 20 percent of your customers—a common disparity known as the Pareto Principle—the best strategy for managing costs and boosting the lifetime value of your customers is to focus on this 20 percent who drive the highest value and identify those who have the potential to reach the top 20.
Lexer provides cutting-edge predictive analytics to help you identify churn risk, predict future value, and inform each interaction with customers. By understanding the relative value of different types of customers, you can focus your acquisition and growth investments on those who provide the highest value to your brand. This focus on cost optimization and customer lifetime value (LTV) growth are key differentiating factors for every brand.
For example, Village Entertainment launched a LTV-driven strategy to segment customers based on predicted LTV and personalize campaigns targeting their highest-value customers.
“The implementation of an LTV strategy has enabled us to develop an understanding of our customers beyond their current transaction history,” says Stacey Kwijas, Marketing Manager of Village Entertainment. “The ability to predict the annual value of individual customers allows us to identify gaps and reduce the risk of customer churn, as well as gives us the ability to recognise and reward our highest value members.”
5. Lexer is designed to support every team.
As the only CDP with native tools to support every customer touchpoint—from marketing to sales to service—Lexer acts as the all-in-one hub for your team.
Marketers can use it to orchestrate personalized advertising campaigns across paid and owned channels, in-store retail staff can use it to enhance face-to-face customer interactions, customer service teams can use it to inform responses to tickets and requests, and the executive team can use it to make data-driven decisions to drive strategy and innovation.
This breadth of function is accessible to the entire business using the same tool and the same dataset, meaning you don’t need to invest in multiple tools for different teams. When each team has access to the same unified and enriched dataset, each team has the ability to craft meaningful customer experiences across every touchpoint. In other words, data that’s organized and managed around the individual customer enables the entire business to put the customer first too.
Plus, Lexer’s IT-friendly deployment and ongoing management mean that all this can be executed with little heavy lifting required by an internal IT resource.
6. Lexer is easy to use.
Technology that’s too complicated or cumbersome for your team to use effectively is a wasted investment.
Lexer, however, is simple to use, balancing sophisticated functionality with an intuitive interface that can be quickly adopted by teams with little to no technical expertise.
Designed for business users, not data scientists, Lexer democratizes access to customer data across teams and channels, broadening the opportunity to discover customer insights, orchestrate targeted campaigns, and drive amazing customer experiences.
For example, Lexer helped PAS Group achieve a single customer view and power hyper-targeted campaigns, leading to an 18 times return-on-investment. Along with these staggering results, the team at PAS was struck by Lexer’s accessibility and ease-of-use.
“Having all our data linked, structured and accessible has really helped us to become more data-centric in our decision making…,” says Anna Samkova, GM Digital at PAS. “It’s so powerful to be able to do the customer research, segmentation and activation within a single tool.”
7. Lexer helps customers reduce unnecessary costs.
Our customers not only make money, but save money with Lexer.
Lexer affords brands independence and savings beyond improvements to acquisition, growth, and retention. These money-saving opportunities include the elimination of wasteful ad spend with advanced audience targeting and suppression techniques, process efficiencies that enable teams to do more with less, and the reduction of outsourced work for capacity-limited teams.
For example, by using the Lexer platform to self-serve insights and orchestrate omnichannel advertising campaigns, Mountain Khakis was able to eliminate the need for a digital advertising agency in favor of in-house work and ultimately saved $150,000 USD.
“Invariably, I saved half of what I was spending, and I can bank that to the bottom line or I can reinvest…,” says Jeremy Hale, President of Mountain Khakis. “The CDP is solving multiple things for me at the same time. I’m going to know where my customers live, how they transact, what their interests are in my collection.”
Click here to download the full Mountain Khakis customer story and learn more about their experience with the Lexer CDP.
8. Lexer enables brands to deliver truly personalized and engaging experiences.
Surviving in the modern world of retail requires brands to humanize, personalize, and optimize the customer experience. The first step to doing so is mastering your data to achieve an in-depth understanding of each customer. Once you know your customers better, you need to be able to act on that insight through segmentation and targeting across channels.
With integrated retail systems and enriched customer insights accessible within the Lexer platform, you can inform and activate personalized campaigns that drive profitable results.
For example, Village Entertainment achieved record-breaking results by using the Lexer CDP to drive personalized customer engagement.
“Lexer as a CDP has enabled the unification and humanisation of our customer data from many disparate sources,” says Ben Murphy, Digital Marketing Manager at Village Entertainment. “As a team and a business, targeting based on past transactional behaviour is great, but overlaying intent-based segments through browsing and social behaviour allows additional opportunities. Subsequently, we can immediately activate bespoke offers and campaigns to these audiences.”
Even after years of engagement with Lexer, Village Entertainment continues to drive revenue and loyalty growth with the CDP.
9. Lexer’s onboarding stands out as one of the fastest and easiest in the industry.
The onboarding and integration process remains one of the biggest hurdles to a successful implementation of a new martech platform. In the case of a CDP, which integrates a wide variety of data types from a wide variety of sources, the onboarding process often takes more time and effort than expected, causing missed deadlines and missed opportunities.
Not with Lexer. With pre-built integrations and support from the Lexer team, you can quickly and easily integrate your data, onboard your team, and start driving value with no hassle. Our quick deployment means that you can take action sooner to start seeing results with the platform—and because we know your time is valuable, we do all the heavy lifting for you.
For example, kikki.K was successfully integrated with the Lexer CDP in less than 5 weeks, with very little heavy-lifting required by the customer and minimal post-live issues.
“It is the simplest integration I’ve ever done in over 10 years of experience,” says Matt Smith, General Manager of IT & Supply Chain at kikki.K. “I’ve looked at similar versions of the same tool from different vendors, but when you balance the cost, ease of integration, and ease for the end-user, I think Lexer is an excellent choice.”
10. Lexer helps you measure performance and demonstrate impact.
As the saying goes, you can’t improve what you can’t measure.
But one of the biggest challenges marketers and service team members face is demonstrating the impact of their day-to-day activities on revenue. To demonstrate your value and feel empowered to make the case for more budget, different strategies, or broader business changes, you need to be able to show your team’s impact on ROI.
Lexer’s CDP provides you with all the tools you need to measure performance, adapt to change, and demonstrate the impact of your activities to the executive team. With easy-to-use tools to understand the impact of both macro market events and internal strategies, you can make smarter decisions to drive your business forward.
Built directly into the Lexer platform, these straightforward tools enable you to take a test-and-learn approach to everything you do and continuously optimize your strategies as you grow.
11. Lexer’s retail solution helps you deliver exceptional in-store experiences.
There is a chasm between the availability and use of data in ecommerce and brick and mortar retail channels. Every interaction your customers have with your website is targeted and leaves a trail of data that can be collected, stored, and used for future insights—but in retail stores, customers are all treated the same and their behavior is not collected.
This represents a massive missed opportunity, because that data can be used to enhance the in-store experience, inform retargeting online, and improve the quality and consistency of the omnichannel experience your brand offers.
Lexer’s world-first, CDP-powered retail solution gives you the ability to capture the in-store customer data that’s currently lost, connect it with digital customer profiles, and use the insight it provides to deliver relevant, human-to-human experiences both in-store and online. You can use it to configure next best actions for sales associates to ensure that they’re offering the best service to the right customers when they walk into the store.
12. Lexer’s flexible survey builder enhances data capture, targeting, and engagement.
As the only CDP with a native survey tool, Lexer’s Secure Forms powers your sweepstakes, surveys, and giveaways to opt-in previously opted-out customers, acquire new email prospects, and capture additional customer information to personalize your outreach.
The flexible tool allows you to capture:
- Customer satisfaction insights
- NPS scores
- Post-purchase product feedback
- Reviews and testimonials
- Customer preference information
- Database signups
… and more! Because the tool is integrated directly into the CDP, you can use customer insights and segmentation to understand who to survey and when. You can set up automated surveys that are triggered by specific customer behaviors or events, such as making their first purchase. Additionally, each survey response is automatically added as a unique attribute to individual customer profiles to enhance insights and inform future personalization.
For example, the West Coast Eagles worked with Lexer to create an online survey designed to capture a deeper layer of actionable customer insights, resulting in a 61 percent response rate and a cost-per-submission of only $0.36c AUD.
“A robust spend at a highly targeted audience ensured an immediate and high response rate,” says Jed Harrison of West Coast Eagles. “This campaign kicked a big goal for us.”
13. Lexer offers the most comprehensive data enrichment in the industry.
The information currently held in your database may not paint the full picture of your customers that you need to deliver a truly personalized and satisfactory experience. To gain a true, holistic view of the customer, you need to look beyond your direct relationship with your customers.
By enriching your customer data with predictive analytics, customer surveys, and third-party sources such as Experian’s Mosaic, Lexer gives businesses the ability to unlock new customer insight and understand the complex human characteristics of their customers.
For example, after Black Diamond Partnered with Lexer, they used their newly-enriched customer data to achieve incredible top-line revenue increases, significant media efficiencies, and highly agile processes to scale their operations while increasing their impact. Using the Lexer CDP, they cut their cost-per-acquisition (CPA) in half and more than doubled their return on ad spend (ROAS).
“We brought on Lexer’s CDP to help our new direct-to-consumer business scale quickly. Their CDP and customer success team have been wonderful assets helping us achieve those goals with higher than expected margins.” — Jan-Willem Driessen, VP of Global Marketing & DTC
14. Lexer’s pricing is transparent with no surprises.
Many CDP and martech vendors have complex pricing models with usage limits that can create expensive surprises. There may be hidden, per-record exporting fees that limit the number of reports you can pull from the platform, or the APIs are rate-limited, requiring more budget as you ramp up your usage of the platform.
You’ll never encounter sneaky charges like this with Lexer. The Lexer CDP pricing is based on the volume of records you load and is fixed for the term of the agreement. We also believe that Lexer works best when your whole business is using it to drive customer-led innovation, so many of our tools are scoped to be accessible by unlimited users. With no surprises in store, you can ensure that your Lexer investment is well within your budget before you commit.
15. Lexer’s engagement evolves with you over time.
Finally, one of the biggest reasons that customers stay with Lexer is that we meet you where you are and evolve with you over time.
Every business has different needs, goals, expertise, and expectations for a CDP investment. Our customers range from digital natives who take to the platform quickly to those with little to no technical experience at all, and we’ll never ask you to run with Lexer before you’ve learned to crawl. Our focus on continual improvement means that we’ll guide you through the early stages of customer analytics maturity and reevaluate our engagement periodically to ensure that you’re making progress in the right direction.
In fact, we expect that the insights accessible from the Lexer CDP will help you drive significant customer-led change and business growth, so we designed our engagements to be adaptable to your current requirements and flexible enough to evolve with your needs as your business grows.