May 18, 2016
Customer Data and the Future of Advertising
The future is now.
Over 14 years ago sci-fi thriller Minority Report depicted the high-tech future of 2054, full of self-driving cars, jetpacks and cognitive pre-crime prediction. The reality is these technologies are here now. The future is now — especially when it comes to advertising.
In the Minority Report world all advertising is personalized. At one point our hero Tom Cruise walks past a series of digital displays which via a quick retina scan serve him personalized ads for Lexus, Amex and Guinness. Then upon entering a GAP store he is greeted by a holographic salesperson who knows his shopping history and preferences.
We know this as personalization, retargeting and hyper-contextual marketing. Personalized ads make up most of the ads you see online from search to display and pre-roll videos. Cookies track your behavior so that ads can be served to suit you.
Innovation has made it possible to reduce huge amounts of waste by making targeting more precise. As advertising becomes more precise, it will become more efficient, increasing ROI. Higher ROI will then lead to more investment in advertising. The bottom line: Data-driven retail is the norm.
Lexer's customer data platform allows brands to unify their customer data with each customer’s online identity to create a more complete picture of each customer. This is a Single Customer View that means brands can create even more targeted communications and offers to improve profits, lifetime value, and customer retention metrics across the board.
Our version of the future of advertising…
Replaces the overt ads of Minority Report with integrated messages that turn your physical world into a series of highly tailored experiences.
As people create more and more data about themselves each day, from geo-located Tweets, Instagram pics about their dog to tracking their PB on their FitBit, their online identity grows and becomes more valuable to clients.
So as you walk into a store your favorite song could start playing via the connected in-store radio recognizing your mobile device ID. Sales staff would know you have recently Googled Android devices indicating you may be thinking of switching handsets. Airlines could easily detect VIP or influential flyers complaining on Twitter and quickly help them.
Big data in retail offers an incredible competitive opportunity—and to capitalize on this opportunity, you need a retail data solution like Lexer.
Talk to us today.
About how you can become the next Data Draper with Lexer's retail data analytics solutions, clienteling software, and strategic guidance.