New Data Models for Retailers Helps to Drive Long-Term Value and ROI
PreciseTarget, the first data company exclusively focused on enhancing the marketing effectiveness of apparel retailers and brands to help them acquire their highest-value customers, announced the launch of Customer Insights Profiles. A new off-the-shelf data enrichment product, Customer Insights Profiles delivers a comprehensive view of shoppers’ likelihood to purchase a product or brand, helping sellers better personalize their offerings and serve their customers with more targeted products.
Customer Insights Profiles was developed to support brands and retailers in navigating the “new normal” of shopping during COVID disruption, which has driven many more shoppers online. Retailers and brands now have access to the most up to date knowledge about which shoppers fit a given assortment to drive long-term value and ROI.
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“Consumer behavior during the current pandemic has been changing rapidly,” said Rob McGovern, CEO of PreciseTarget. “As retailer bankruptcies continue to make the news, we wanted to give retailers and brands better tools to match their products with the customers most likely to purchase — with an eye to continue recovery.”
PreciseTarget has analyzed over 5 billion consumer purchases from 3,000 brands to create profiles of 99% of apparel and footwear shoppers. Customer Insights Profiles provides individual data about customers by utilizing PreciseTarget’s unique Taste profiles, and scores them based on their buying behavior and purchase propensity. Using PreciseTarget’s comprehensive profile data sets, retailers can also identify customers by specific characteristics such as those who have purchased the brand via other channels, paid with cash, or weren’t identified at purchase time.
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Each profile includes demographics, brand propensity scores in soft goods, category and price propensities, gifting and on-sale targeting attributes, and buying tastes. The platform also provides target clustering, where customers are organized into target segments based on the attributes that best fit a brand or retailer’s assortment.
Customer Insight Profiles data is delivered by trusted third-party sources using CCPA-compliant pseudonymized identities.