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The questions that keep retail marketers up at night have evolved significantly over the last decade. It wasn’t long ago that marketers would spend their time debating which highway to place their billboard on, whether or not their next TV commercial should be comical or heart-tugging, or even what the optimal time of day was to blast an email campaign to their entire customer list. In 2024, retail marketing has new challenges on the radar.
The rise of omnichannel retailing
The modern, digital-savvy customer expects a flawless and interconnected shopping experience across touchpoints — one of the many reasons omnichannel marketing is on the rise. Research shows that over half of B2C consumers engage with between three and five channels whenever they make a purchase. For businesses, omnichannel engagement is a lucrative opportunity; McKinsey reports that customers who engage across channels shop nearly twice as much as those using a single channel and usually spend more money.
However, the rise in omnichannel engagement also presents several retail marketing challenges, such as the complexity of managing vast amounts of data and piecing together an accurate picture of consumer behavior.
Data and identity-related retail marketing challenges
Today’s data-driven environment has turned the retail marketing landscape on its head, and businesses have a whole new set of struggles that revolve around identity and data. We identified the top five retail marketing challenges and how to solve them.
1. Knowing what data to capture
In the omnichannel era, online and offline data is abundant. When a customer shops at a physical store, they create data points like:
- What items they purchased
- What time they visited
- How long they were there
When the same customer shops online, they create a whole new set of data points, such as:
- What device they used
- Which items they browsed but didn’t purchase
- How long they spent on specific pages
The vast available data can overwhelm retailers and make it a challenge to determine which data points to prioritize. Start by identifying the challenge you’re addressing. By defining your problem, you can better decide which data is most relevant. For instance, if you’re optimizing the timing of incentives, analyze when customers shop most frequently and customize offers based on individual behavior patterns.
How Experian’s Activity Feed can help
Experian Activity Feed connects online and offline data to promote precise targeting and measurement across mobile, web, connected TV (CTV), and more. We provide addressable insights that work across all channels by integrating real-time device IDs, cookies, and IP addresses. Our case study with Cuebiq, found here, discusses how we used Activity Feed to deliver in-store lift analyses to Cuebiq’s clients.
Because our impressive breadth of addressable data works across channels, we’re perfectly positioned to be your comprehensive identity solution, as we’re capable of addressing the entire U.S. population. With access to over 250 behavioral and demographic attributes per individual, our data fills in audience gaps to help you create a complete customer profile.
2. Understanding customer behavior
The complexity of modern consumer behavior is growing, and one of the biggest retail marketing challenges is merging all this information into a single unified customer view. With consumers moving seamlessly between devices like tablets, mobile phones, and laptops, retailers face the grueling task of keeping up with their fragmented journey.
For instance, a customer may spot a pair of shoes in-store, add them to their cart via mobile due to long cashier lines, and finish the purchase later from their laptop. However, if they cannot be recognized across these touchpoints, they may abandon the purchase out of frustration. Retailers need solutions that link offline customer relationship management (CRM) and purchase data with a customer’s online activity, regardless of channel or device.
This is where Experian identity resolution and Graph come into play.
How Experian’s Graph and identity resolution can help
Experian’s identity solutions help brands resolve disparate data by merging fragmented identifiers into a singular customer profile for a 360-degree view. We ensure each touchpoint is connected, whether the interaction happens online or offline, across mobile apps, or in-store. This enables retailers to recognize the same customer across various devices and enhances the customer experience by keeping items in their cart and personalizing their journey across platforms.
With Experian’s identity graph, brands can further enrich these customer profiles with digital identifiers that span hashed emails (HEMs), cookies, mobile device IDs (MAIDs), IP addresses, universal IDs, and CTV IDs to create a more accurate, actionable view of consumer behavior. We rebuild the graph weekly, which ensures persistent and refreshed connections between households, individuals, and their devices. This ongoing linkage allows for precise targeting and measurement over time and aligns with privacy standards and compliance obligations.
By organizing identity into households and device IDs and enriching them with marketing data, brands can gain deeper customer insights, addressability across devices, and the ability to measure the impact of their retail marketing strategies.
3. Building trust between consumers and your brand
Trust is the foundation of online relationships, and consumers who trust your brand are likelier to share their data. To establish this trust, retailers must collect customer data transparently and respectfully.
According to Experian data, 80% of consumers believe more transparency around the use of their information fosters greater trust in a business. Additionally, the same data revealed that 56% of companies plan to invest more in transparency initiatives, such as consumer education, clearer terms of communication, and consumer control over personal data.
Experian’s commitment to data accuracy and transparency further strengthens this trust. Our data is ranked #1 in accuracy by Truthset, which means you can power smarter insights, targeting, and measurement using the highest-rated, most reliable data to build customer profiles.
4. Establishing customer loyalty with retail marketing
Today’s consumer has many opportunities and choices available at their fingertips, which makes it harder for retailers to build and maintain customer loyalty. Signal loss and the rise of omnichannel media consumption have made it even more of a challenge to keep loyal customers.
By using data and insights to interact with people more meaningfully, you can overcome these difficulties to provide a more personalized, relevant experience and establish loyalty. Experian’s new Digital Graph and Marketing Attributes solution makes it easier to do just that.
Experian’s Digital Graph and Marketing Attributes solution
Using our Digital Graph and Marketing Attributes, you can gain comprehensive insights into consumer behavior by combining offline and digital data through our Living Unit ID (LUID). Our Digital Graph provides robust digital identifiers like MAIDs, CTV IDs, HEMs, and universal IDs, while our Marketing Attributes offer detailed consumer insights spanning age, gender, purchase behaviors, and content consumption habits. With this data, you can create relevant messaging and informed audience segmentation to enhance your personalization and targeting efforts across all digital channels.
Using our solution can help you deliver what customers need when they need it — like winter gear before a ski trip or swimwear before a beach vacation. These personalized experiences drive additional revenue and build lasting relationships that keep customers coming back, establishing a strong foundation of loyalty in an increasingly competitive market.
5. Finding your technology solution
Retailers need to integrate technology to make their data actionable and use it to streamline the customer experience. They need to integrate data storage platforms with fulfillment and reporting solutions, such as email service providers, display networks, and marketing intelligence tools. Whether retailers are exploring the industry or gearing up to make a substantial investment in the right technology partner, it’s vital to ensure you evaluate potential partners equally and consistently.
Experian works with major platforms, marketers, and agencies, meaning we have existing partnerships across the ecosystem for you to connect with that can bring your consumer data to life and meet your needs. Our offline and digital graphs are baked into partner integrations so customers can achieve higher match rates that improve addressability.
Strategies to help you overcome retail marketing challenges
When it comes to modern retail marketing, you’ll need to take a strategic approach to handle emerging challenges. Here are five retail trends of 2024 to consider integrating into your retail marketing strategy:
- Use predictive analytics: Data can be overwhelming, but you can analyze historical purchase patterns to capture and prioritize the most relevant data for your retail marketing efforts.
- Optimize omnichannel campaigns: Cross-channel data integration can help you ensure consistent messaging, provide a seamless experience, capture a unified view of customer interactions, and improve engagement.
- Personalize experiences with AI: Utilize AI data capture across touchpoints to create personalized recommendations and tailored experiences that resonate with individual customer preferences and behaviors.
- Adopt dynamic pricing: Use real-time data to adjust prices based on customer behavior and market conditions so your pricing strategies align with current demand and maximize revenue.
- Invest in customer experience tech: Virtual fitting rooms, augmented reality, and other advanced technologies allow customers to engage with your brand across platforms, which can improve their shopping experience.
Utilize Experian’s retail media network (RMN) solution
Experian’s solution for RMNs is another tool for overcoming retail marketing challenges. We empower RMNs to better understand their customers with unified views of online and offline behavior across channels and extend their reach across environments.
Using our top-ranked identity and audience services, we can help RMNs access expanded customer insights, enhance cross-channel audience targeting, and improve real-time measurement and attribution to enable precise, streamlined, personalized omnichannel campaigns. Our solution’s integration with major platforms improves data match rates and addressability so retailers can overcome data fragmentation and optimize their retail marketing strategies.
Experian can help advance your retail marketing strategies
Experian can help retailers effectively use data and insights to interact with customers and prospects meaningfully. Our data and identity solutions help you deliver relevant, impactful messaging to ensure the customer who puts shoes in the cart at the store is the same customer who wants to finalize their transaction later that evening online.
As the holiday season approaches, it’s time to refine your retail marketing strategies and connect authentically with shoppers. With over a billion consumers preparing to shop, Experian offers 19 new syndicated audiences available for activation across major ad platforms, including TV and programmatic, to help you reach the most relevant prospects. Whether you’re targeting discount seekers, last-minute gift-buyers, or frequent travelers, our audiences align with diverse shopping styles and preferences. Choosing the right audience segments aligns your holiday marketing efforts with consumer expectations and maximizes impact.
With our tools, you can seamlessly connect with the same customer across various channels, whether they’re shopping in-store or online. Embrace the holiday season confidently, and let Experian help your retail marketing strategy shine.
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As I walked onto the buzzing streets of Cannes for the first time, my senses were immediately captivated by the energy that filled the air. I'd heard plenty about Cannes Lions, the globally revered International Festival of Creativity, but being in the midst of it all was an entirely different ballgame. 1. A visual extravaganza From the moment I woke up from my two-hour nap, (Seattle was a long way to travel to Cannes), I was awestruck by the grandeur of the festival. Usually known for its tranquil beauty, the city was alive and brimming with imagination. Massive installations, eye-catching billboards, and immersive media experiences were scattered over the two-kilometer stretch of La Croisette, transforming the city into a canvas of creativity. I saw firsthand how abstract concepts could be turned into palpable realities, especially those of Spotify, Yahoo!, and Stagwell's Sport Beach with their basketball court with stadium seating setup. 2. Nuggets of wisdom shared in panels The festival's days were jam-packed with thought leadership panels – each a masterclass in the ever-evolving universe of AdTech. Fortunately, as a member of the Experian team, I didn't have to travel far for unique panels; we hosted four panels throughout the week, and I was immersed in dynamic discussions about new trends, groundbreaking ideas, and the challenges ahead. One recurring theme that resonated with me was the intricacies of authentically connecting with consumers. Finding genuine human connections amidst digital chaos can be challenging in today's tech-driven world. These dialogues provided incredible insights into how we could maintain the delicate balance between personalization and privacy and effectively use artificial intelligence (AI) to enhance customer engagement without compromising the human essence in advertising. Watch our panels 3. Connect with your peers If Cannes Lions is known for anything apart from its creative inspiration, it's the unparalleled networking opportunities. The festival allowed me to interact with professionals from all corners of the world. Each exchange was not merely about exchanging contact details but building meaningful relationships. Will these first arcs lead to meaningful friendships? I sure hope so. 4. A comprehensive learning opportunity The most crucial aspect of the festival was the immense opportunity it offered for learning. I found myself constantly absorbing new information and insights from the panels, every conversation, and every chance meeting. 5. Juggle your time Effective time management was crucial for maximizing my Cannes experience, with many things happening concurrently. I would give myself a B- for this. During the day, when I had some downtime, I could have ventured to another panel, attended a networking event, or taken in a view of the city I didn't get. That's the biggest challenge, and the beauty of Cannes Lions is its unique blend of professional learning opportunities set against the backdrop of a picturesque seaside town, but how do you do it all? 6. Relish the experience My week at Cannes was filled with intense learning, insightful conversations, and eye-opening experiences, leaving me mentally drained and intellectually stimulated (I think those can happen concurrently). The festival left me with a renewed appreciation of why we do what we do in the AdTech industry: supporting the pursuit of creativity, the drive for innovation, and the desire to forge meaningful connections. Cannes Lions was more than just a festival – it was a week of stepping out of my comfort zone, gaining deep insights, and establishing relationships that I hope will last a lifetime. As I boarded my flight out of Nice, surrounded by adults with layers of event access bracelets, I was inspired and stacked with knowledge and ideas that will help drive meaningful marketing opportunities with our content and partnerships. The grandeur, the learning sessions, the networking, and the profound lessons exceeded all my expectations. My week at Cannes Lions was unique, intense, insightful, and unforgettable. It was an experience I can't wait to repeat! Follow us on LinkedIn or sign up for our email newsletter for more informative content on the latest industry insights and data-driven marketing. Latest posts
It’s been one week since the highly anticipated Cannes Lions 2023 – the event of the year for advertising and creativity. We're thrilled to share our top four key takeaways from the event, showcasing what the industry will prioritize in the upcoming year. Signal loss At Cannes Lions 2023, experts underlined the detrimental effects of signal loss on advertising and emphasized the significance of having diverse channels. Discussions emphasized the importance of adapting paid media strategies to align with evolving consumer behaviors in order to remain relevant in the ever-changing landscape. Urgency in planning and avoiding being caught without a solid strategy was a common theme throughout the event. Alternative identifiers, like first-party data, were highlighted, as they prioritize privacy-centric approaches. Contextual advertising emerged as a key part of the solution, providing relevant ads that fit seamlessly into the user's experience. Collaboration Collaboration was a major theme at Cannes Lions 2023. Attendees explored topics such as maintaining privacy and identifying the right attributes for effective targeting. Clean rooms were discussed as a way to ensure privacy when sharing data, and highlighted partnerships as the key to unlocking interoperability within the advertising ecosystem. The discussions underscored the need for industry players to join forces and collaborate on solutions that benefit all stakeholders in the ecosystem. “What makes Cannes unique is that you have a lot of decision makers in the room at the same time. This leads to more efficiency in terms of coming up with goals and objectives and really getting to the heart of the key aspects for us to build partnerships.”alison omealia, vp, customer success, experian Personalization Personalization was a key topic of discussion at Cannes Lions 2023, with its growing significance in advertising taking center stage. The event emphasized the need to focus on serving up tailored content that resonates with individual consumers, cultivating brand affinity. The intersection of science and art was highlighted, emphasizing the role of data-driven insights and creativity in supporting frequency capping and delivering engaging content. Advertisers are adapting to cookie deprecation by shifting from cookie-based third-party targeting to first-party data solutions. This is due to the significant changes in the consumer privacy landscape, which have limited advertisers' access to signals emitted by consumers through their devices and browsers. As a result, alternative IDs like UID2, Ramp ID, and ID5 are emerging as viable options for advertisers to continue personalized targeting. Balancing AI and creativity at Cannes Lions 2023 Participants shared invaluable insights on how to strike the right balance between harnessing AI's capabilities and nurturing creativity to keep the human touch alive. The event emphasized the importance of understanding the boundaries of AI while utilizing tools that drive innovation and imagination. Attendees explored the dynamic roles that AI provides and discussed how it can help push the boundaries of their creativity while still keeping the human element intact. As technology continues to advance, so does the need for advertisers to adapt their approach and integrate AI in a way that enhances their creative output. Experian events at Cannes Lions 2023 We hosted a series of events that included a kick-off event and four panels. The activities were designed to provide attendees with valuable insights on various topics related to advertising and data privacy. Here's a recap of what we covered during the week. Experian’s Cannes Lions kick-off event We co-hosted a kick-off event on Sunday with Audigent. It was a successful event that brought people together to launch an important week in the AdTech industry and build connections with clients and prospects alike. Data on the sell-side Ongoing signal loss has marketers, agencies, and platforms tapping directly into the sell-side for high-quality audience and context. In this panel, industry experts from Truthset, Captify, Audigent, Newsweek, and PubMatic joined Experian to discuss the imminent disappearance of cookies and the need to adapt and future-proof data privacy strategies. The deprecation of third-party cookies presents an incredible opportunity to redefine data privacy practices and empower consumers. Our panelists emphasized the need to adapt and invest in alternative identifiers in order to thrive in a cookie-less future. Publishers were urged to create valuable content, engage in first-party activities, and consider the next generation of consumers who are growing up without traditional identifiers. The fragmented landscape calls for a variety of tactics and partnerships, while AI can provide opportunities to explore beyond deterministic identifiers, fostering creativity and innovation in advertising practices. Stacking the marketer's toolbox for success In partnership with Adweek Abroad in Cannes, industry leaders from FreeWheel, Tubi, and Instacart joined Experian to discuss opportunities for brands to unlock deeper, richer, and more scalable insights into current and potential customers. The panelists highlighted several key considerations, including building a robust first-party data strategy, ensuring accuracy in data quality partnerships, and establishing better-connected communications and relationships with consumers. Participants acknowledged the value of consumer data and urged advertisers to remain purpose-driven, always putting the viewer first. The freshness and recency of data were identified as critical factors for establishing quality connections with consumers and staying attuned to consumer trends. What does the future of identity hold? During this panel discussion, industry leaders from the IAB, MiQ, Cint, Direct Digital Holdings, and Tatari joined Experian to explore the future of identity. The panelists discussed the challenges cookie deprecation poses in programmatic advertising and the need for new identifiers and solutions. They also acknowledged the expanding media landscape and the importance of frequency capping and attribution measurement in a post-cookie era. Trends to watch for include the potential consolidation of identifiers and the movement of first-party data in-house by larger media companies. Panelists shared different views on cookie deprecation readiness and the overhype of AI in the industry. Streaming takes center stage OMG, Roku, AMC Networks, Paramount, and Disney joined Experian to discuss streaming TV as a fragmented and evolving landscape. The panelists debated whether it has become a performance channel and emphasized the need for client education, attribution, and optimizing performance metrics. They also discussed reaching audiences across different mediums with data interoperability, audience targeting, and reliable identity solutions. The panelists explored the emerging trend of AI, optimizing ad placement, refining targeting, streamlining creative approval, and enhancing ad breaks. “A lot of trends in AdTech are relevant to TV, but the most consistent trend has definitely been having a solid identity source throughout the whole lifecycle of a campaign within TV.”ali mack, sr. director, platforms, experian Watch our panels Let’s keep the conversation going The innovation and possibilities for signal loss, collaboration, personalization, and balancing AI and creativity are limitless, but understanding exactly how to get there is what can make all the difference. As we wrap up another successful week at Cannes Lions, let's use these conversations as an opportunity to advance together toward a more connected future — what trends are you most looking forward to? If you’d like to discuss any of these topics further, get in touch with us! Contact us Check out more Cannes content: Insights from a first-time attendee Four new marketing strategies for 2023 Exploring the opportunities in streaming TV advertising The future of identity in cookieless advertising Maximize ad targeting with supply-side advertising Follow us on LinkedIn or sign up for our email newsletter for more informative content on the latest industry insights and data-driven marketing. Latest posts
Our next segment in our Ask the Expert series dives into the importance of data enrichment and its benefits across connected TV (CTV) advertising. Ask the Expert features a series of conversations with product experts where we focus on topics that matter the most in AdTech. In our latest segment, Natalia Irmin, Director of Strategic Data & Media Partnerships at a4 Advertising, joins us to chat with Experian's SVP of Sales & Partnerships, Chris Feo. a4 is an advanced advertising and data company that offers audience-based, multiscreen advertising solutions for local and national advertising businesses. In their conversation, Natalia and Chris review: The benefits of data enrichment First-party data enrichment across advertising Data enrichment in CTV advertisingHow Experian and a4 work together What is data enrichment? Data enrichment enhances first-party data sets using third-party data sources. This process involves merging first-party data from internal sources with data gathered from other internal sources or from external third-party sources. Examples of data that can be part of the enrichment process include: Demographic information Contextual signals Behavioral patterns Interests Purchase-intent The more you know about your customers, the better equipped you are to reach them where they are with the right message. By enriching your data, you can enhance your messaging, provide personalized offers, and establish a loyal customer base. First-party data enrichment across advertising Businesses are transitioning from cookie-based third-party targeting to first-party data enrichment solutions as a result of cookie deprecation. When data enrichment is paired with internal first-party data, you can generate a more holistic customer profile. a4 has a rich set of first-party data, based on the subscriptions to their services. a4 uses first-party data enrichment across advertising in two ways: Measure performance using their viewership dataAdvise their customers on where they should focus their advertising efforts based on the customer's viewing behavior a4 supports the enrichment of their customers' first-party data so they can get the most out of their insights. With Experian’s privacy-first approach, a4 can continue to rely on their first-party data while protecting personally identifiable information (PII). Data enrichment in CTV advertising CTV advertising refers to digital advertising that appears through a streaming service during a viewer’s video content, like a movie or TV show. CTV ad campaigns allow businesses to personalize their digital marketing messages while the viewer watches content on various platforms. CTV offers a highly measurable opportunity to increase brand awareness. Benefits of data enrichment in CTV advertising Data enrichment provides three key benefits that can enhance targeting, personalization, and campaign effectiveness in CTV advertising. Understand your target audience By using enriched data such as demographic information, viewing behavior, and interests, you can gain deeper insights into your target audience, refine your targeting strategies, and create highly personalized ad experiences. Data enrichment also enables better measurement and optimization of ad campaigns, maximizing ROI. Integrate enriched data with other marketing channels You can integrate enriched data into CTV with data from other marketing channels. This enables the creation of comprehensive and cohesive marketing strategies that provide consistent messaging and enhance cross-channel targeting. Enhance the value of ad inventory Data enrichment can also benefit content publishers and broadcasters by enhancing the value of ad inventory and providing more targeted and effective advertising opportunities. Enabling your marketers to target specific audiences will result in improved campaign performance. Through data enrichment, you can increase return on your ad spend and boost the value of your publisher’s ad inventory. a4 and Experian can help your business attract additional demand with audience enrichment. a4 uses Experian’s vast offering of audiences and combines it with Experian’s Graph. This data can later be used to activate across a4’s parent company, Altice’s owned and operated properties, as well as beyond Altice’s own footprint via premium publisher partners. How Experian and a4 work together a4 and Experian have a long-standing partnership that enables a4 to enhance its data. Through our Consumer View and Consumer Sync products, a4 can add audience attributes to its subscriber and viewer data to precisely pinpoint the audience that its clients are targeting. Experian helps a4 in building a comprehensive customer profile, which helps expand the customer base for a4's advertising clients. We form partnerships, like we do with Experian, to enhance our data further, so that we can combine the power of the viewership and exposure data for those other attributes that clients might need.” – Natalia Irmin, Director, Data & Strategic Partnerships, a4 Advertising Through Experian's audience attributes and Graph, a4 can assist advertisers in targeting audiences beyond their usual reach, creating a better user experience. a4 can personalize experiences and promotions to prioritize customers with a higher likelihood of making a purchase. By tailoring messages and promotions to individual customer preferences, businesses can improve their advertising efforts and deliver them through their preferred channels. Watch the full Q&A Visit our Ask the Expert content hub to watch Natalia and Chris's full conversation about data enrichment and its benefits across the advertising world. In the Q&A, Natalia and Chris also share their thoughts on the importance of first-party data enrichment, addressability, and measurability in CTV advertising. Watch now About our experts Natalia Irmin, Director, Strategic Data & Media Partnerships, a4 Advertising Natalia Irmin is the Director of Strategic Data & Media Partnerships for a4 Advertising. With over 10 years of experience working with data in the Defense, Finance, and Advertising industries, Natalia currently leads the a4 Strategic Partnerships team in the development of advanced data and media products in support of the organization’s media planning, buying, and advanced analytics business. Natalia holds an MBA from the NYU Stern School of Business and a Bachelor of Arts from Tel Aviv University in Israel. Chris Feo, SVP, Sales & Partnerships, Experian As SVP of Sales & Partnerships, Chris has over a decade of experience across identity, data, and programmatic. Chris joined Experian during the Tapad acquisition in November 2020. He joined Tapad with less than 10 employees and has been part of the executive team through both the Telenor and Experian acquisitions. He’s an active advisor, board member, and investor within the AdTech ecosystem. Outside of work, he’s a die-hard golfer, frequent traveler, and husband to his wife, two dogs, and two goats! Latest posts