Craig Alberino, CEO
Today’s consumer sees thousands of ads in any given day. He or she has become savvy at tuning out marketing messages. Just look at how pervasive ad blocking technology is today – the market has grown 41 percent over 12 months, with no signs of slowing.
Consumers are sick of being marketed to in mass. They want brands to understand their personal preferences and behaviors, and tailor communications to them as individuals. Because of the data trade off that they are willing to make – providing personal information in order to get something of value in return, they have come to expect personalized communications. And there’s no industry where that mentality is more prevalent than retail.
While this data can be incredibly valuable – especially when combined with POS, social and demographic data, retailers are drowning in the sheer amount of data available to them (oftentimes in silos). As an industry facing a shortage of data scientists, most retailers are only able to make sense of what already happened, rather than predict what will happen next.
The silver lining is that technology has evolved to the point where artificial intelligence (AI) can help retailers decipher the information, and make it actionable for CRM. AI enables retailers to understand and predict consumer behavior patterns, giving incredible insights into not only what motivates an individual shopper to buy, but which products that specific person is most likely to buy next – and with incredible accuracy. By integrating these personalization engines with CRM, retail marketers can predict what every customer on their list wants, and push contextually relevant ads to them – at the exact right time and place.
These relevant messages build trust with shoppers, making it far less likely that they will tune your brand out when presented with an advertisement or marketing offer. Rather, AI-powered marketing recommendations will differentiate your brand message from the thousands of irrelevant ones shoppers are tuning out every day.
Through Grey Jean’s AI product in combination with Vedicsoft and SugarCRM, retailers can automate the 1-to-1 marketing efforts via advanced algorithms. The benefits to the businesses and, more importantly, to each individual customer of the retailer include tailored communications that break through the everyday marketing clutter.