As consumers we have come to expect individual and effortless experiences every time we interact. In fact, how well an organization delivers has become as important as what it delivers when we consider who we want to do business with.
The pandemic has really exacerbated this, through massive acceleration to digital channels. It has driven both organizations and consumers into a deeper relationship with technology. Although it’s been challenging, it’s also opened up new ways to engage with consumers better and more directly.
A recent study from Forrester and Teradata identified that 85% of organizations believe digital experiences are the most effective way to reach and engage consumers and 65% say that creating high impact customer experiences is a high priority for them.
However, organizations are facing a huge problem. They are losing the ability to listen to their customers via digital channels because of the introduction of new restrictions such as Apple Intelligent Tracking Prevention, which stops them from identifying and profiling their customers using third party cookies. Already, approximately 30% of their web visitors can no longer be profiled, and this will jump to around 90% next year when Google Chrome removes support for third party cookies.
Failing to fix this will cost organizations tens of millions in lost revenue. Not being able to identify individuals and recognize them across different channels and devices means not being able to being able to orchestrate customer journeys across different channels, hyper-personalize experiences, or optimize digital advertising. There’s also the risk of losing customer trust as organizations find it more challenging to comply with stronger privacy regulations. Simply put, they will not be able to meet and exceed expectations for great CX.
Organizations are hugely focused on finding a solution to fix this problem, however the digital analytics solutions that they have typically used to listen to their customer are now not able to identify all visitors online because of third party cookie deprecation. There are gaps in the data they collect, they are unable to persist data over time and across channels and broken join keys mean they cannot connect to data collected elsewhere for analytics and decisioning.
So what is the answer? Going forward, organizations must change the way that they build customer profiles across channels and devices by using first party data that is compliant and can be activated in real time across the entire MarTech stack. This will require every organization to put five essential capabilities:
- Identify individuals the moment they interact with your brand
- Listen by capturing insights in the moment based on their behaviours
- Connect these in the moment insights with what we already know about the individual
- Understand each individuals needs and identify the best next actions for them
- Activate the best next actions in real time to deliver hyper-personalised experiences
Partnering with Celebrus, Teradata delivers the world’s only true first-party digital identity solution, that is unaffected by browser restrictions and third-party cookie deprecation.
With Celebrus solving for digital by providing the most complete, granular, and compliant dataset in the industry today, you can focus on using that data instead of worrying about whether you captured it in the first place. With the data integrated into Teradata Vantage, organizations can leverage it for marketing, customer experience, data science, risk, fraud, and many other use cases.
If you want to create those moments, and respond to hyper-personalized consumer demand, then it’s time to learn more about the proven offering from Teradata and Celebrus.