Modern Business must deploy O2O
Why is data important? What is Data Digitization?
Customer Foot Print and customer database that has more detail and more details can be used in creating more opportunities for merchants. Nowadays, retailers can access various information more than ever, and using Big Data wisely will help create an ample competitive advantage in the most challenging market conditions.
Data Monetization, and understanding the fundamentals of good data monetization are an important matter to consider, can really help the marketing strategy succeed in a completely different way. In making important decisions such as product selection and planning, promotion planning, and communication both in-store offline and online media. These data are used as a source for consideration.
The most effective strategy for Data Monetization is based on a large number of principles. By following these guidelines, you can confidently move forward.
The best strategy must come from Insights, which collects details from the customers Behavior, not just from sales or volume data. It includes everything from how often do customers go shopping? How much to spend each time? Or what kind of premium products do customers choose?
The more you know about the Customer Behavior both in-store and online, the more answers you have in order to get connections and engagements.
We can use and do create with Customer-Centric. You can’t create a Data Monetisation strategy that will change your business based solely on sales transaction data.
Therefore, the first thing is to manage to have correct details information. Which is the collection of all data collected through the CRM program, such as Loyalty card program information that covers at least 50% of the customer database that
get the most out of the information. Is to combine all the collected data (merge) into one database, data from multiple product groups and locations will be analyzed together and created as a single data-driven customer language. It can be used to analyze categories or brands. Performance and KPIs can be used together to track results and measure success when used correctly. These Big Data data will help create a framework for workstream marketing leaders which should be adapted for future marketing.