The battleground for brands today is in capturing the attention of consumers through relevant, timely experiences. Sounds easy enough, right?
However, today’s consumers have access to more channels than ever before, and they expect personalized experiences across every one of those touchpoints. The key to effective personalization is customer experience management (CXM), rooted in a single view of the customer. But the truth is many brands still struggle with delivering these types of moments that matter because they are relying on siloed and outdated data.
A fragmented look at a customer ultimately results in disconnected experiences. That’s why Adobe Experience Platform is so crucial for many brands’ success. Experience Platform not only brings all of your data into one place, but it also builds real-time customer profiles, empowering brands with new opportunities to deliver great experiences to their customers in the moments that matter.
To take it a step further, we’re announcing a series of innovations that harness the power of Adobe Experience Platform.
Personalization and understanding Your audience
It’s clear today that everyone within an organization needs access to data: from the code-savvy data scientist, to the citizen analyst to a marketer. Adobe Experience Platform Data Science Workspace, announced earlier this year, works to empower everyone, regardless of their level of technicality, with AI-powered real-time intelligence.
With Data Science Workspace, brands will be able to use Adobe Sensei, our AI and machine learning technology, to better personalize and understand their audience.
- Product Recommendations: In retail, product recommendations are a must-have form of personalization. But, it’s imperative to provide a multitude of products to encourage choices, too many choices can often feel overwhelming to customers and prevent them from making a purchase decision. With Product Recommendations, brands use machine learning to analyze a customer’s historical interactions with products to generate a personalized list of recommendations quickly. With omnichannel visibility, including streaming and point-of-sale data, this leads to higher engagement and stronger brand loyalty. With Real-Time Customer Profile, brands can personalize across multiple customer interaction points, with the power of AI and ML.
- Retail Sales Forecasting: Brands that rely on a supply and demand model for pricing face a plethora of challenges to stay competitive in the current market. For example, too much supply increases inventory costs, while too little increases the risk of losing customers to competitors. It’s crucial to get insight into the right amount of product to purchase, while also staying strategic when it comes to optimal pricing. Using AI, brands will be able to predict sales trends within Adobe Experience Platform and run forecasts on monumentally large sets of data. This will help retailers plan for major moments in time (i.e. holiday shopping) and how to price products the right way to exceed sales goals.
The average US adult will spend 2 hours, 55 minutes on a smartphone in 2019, a 9-minute increase from 2018. And, just about half of that daily time spent on mobile is spent engaging on social media channels, according to eMarketer.
As social media usage continues to grow, the data and insights coming from those platforms become an important aspect in building the highly coveted customer profile. The problem is, integrating social data with other data sources has traditionally been challenging for brands. Working in tandem with Adobe Experience Platform, Adobe Audience Manager, the industry’s leading data management platform (DMP), helps brands’s bring together fragmented data and create a unified view of each of their customers. And while DMPs have historically struggled with extending a brand’s personal experience to social platforms, today we announce People-Based Destinations to help companies address the challenge of activating social networks such as LinkedIn.
This is an industry-first capability that no other DMP offers as a productized connector, making audience targeting, personalization and suppression based on hashed identifiers a reality in the social media space. For example, an airline can better personalize communications based on offline profile characteristics such as loyalty tier (i.e. bronze, silver, gold), to share targeted offers via social platforms. People Based Destinations allows brands to leverage Audience Manager’s existing data governance and privacy controls to honor consumers’ choices about their data.
While People-Based Destinations helps brands more relevantly engage with consumers on social networks off of hashed email addresses, Adobe’s Real-Time Customer Data Platform(announced in beta earlier this year), brings this a level deeper with a focus on personally identifiable information, for those use cases where it is permitted. This means that brands will be able to activate personalized experiences in more channels that are dependent on a personal identifier, like email service providers (ESP), while also using customer data from around their organization, like from call centers and point-of-sale systems, to better personalize offers and customer service at any touchpoint. With Real-Time CDP in the marketing stack, customers can target based on durable identifiers for those use cases, in addition to the device-based, cookie-based, and hashed identifiers used in Audience Manager today, and in each instance honoring the consumers choices about their data.