‘Tis the Season to Get Smart About First Party Data

KORTX

Published on October 22, 2019

Q4 of 2019 is officially underway and the holiday season is upon us. In fact, holiday shoppers have already begun researching and purchasing items for their loved ones (eMarketer) and retail spend is forecasted to surpass $1 trillion in November and December for the first time (eMarketer). Total holiday online sales are expected to climb 14.9% to $142.36 billion while mobile commerce is expected to jump 28% to $68.19 billion (eMarketer). As we approach the busiest shopping season of the year, now is the perfect time for retailers to start thinking about how to best capture consumer behavior to further deliver personalized brand experiences.

The Power to Plan Ahead

We live in a data-driven world and retailers crave first party data. Not only does the data help brands understand their customer base, it allows them to develop a more direct and personal relationship with those who are purchasing their products. With the proper foundation in place, brands can capture specific consumer actions such as cart abandonment, product type purchase, those who have looked at specific content on their website, signed up for a newsletter, requested more information, found directions to the nearest store location, researched store hours and more.

Total holiday online sales are expected to climb 14.9% to $142.36 billion while mobile commerce is expected to jump 28% to $68.19 billion.

From promotional offers to gift guides, retailers see an influx in website traffic throughout the holidays thanks to loyal customers and infrequent visitors alike. As we approach the highest traffic time of the year, a tag mapping, data collection and trend analysis strategy can help create clarity around whether or not you're reaching the right people. Our proprietary marketing platform, Axon, combines access to over one billion user profiles and behavior across 95% of the internet with comprehensive first party data, allowing retailers to see everything about their existing and future customers in one platform.

Segment + Analyze + Activate

In addition to understanding if you're reaching the right people, proper data capture can also help retailers understand each user's path to purchase. Some individuals are currently researching holiday gifts and will not actually close the deal until after Thanksgiving, while others have half their list checked off by the start of November. Those who rely on Axon have first party segments at their fingertips and are able to distribute personalized messaging based on each user's journey through the funnel. A real seasonal win comes when brands are able to acquire and retain customers who are not only making purchases during the holidays, but well into the new year.

Avoid the Post-Holiday Blues

Year 2019 is coming to a close and 2020 will be here before we know it. While January can be a tough month for retailers, it's important to plan ahead and take advantage of the opportunity to capture data about your customers during such a high-traffic time. The Axon marketing platform is included with all media programs. Get started today!