The latest perspectives on data, sales, and customer success
One of the most common challenges we come across when talking to businesses is the need for a unified profile of each customer. A 360-degree view of your customers affords you the ability to respond to, and optimize for, each customer’s context and journey. Building this view can comes with technical challenges, but the investment often leads to happier customers, more frequent purchases, and ultimately more revenue for your B2C business.
Over the past year, we’ve had the pleasure of working with companies to analyze and optimize over $15 billion in annual revenue. We’ve helped NHL teams sell season tickets, retailers with hundreds of stores personalize customer offers, and travel companies personalize product bundles for every traveller.
In the process, we’ve learned about the incredible importance of the customer journey. Every customer reaches a buying decision in a unique way, and understanding their stage in the buying cycle is critically important to converting them and earning their loyalty.
Marketing automation has become an increasingly critical part of every organization’s digital strategy. From sending post-purchase surveys to abandoned cart emails, customers now expect helpful reminders with timing and content that’s personalized for them. Triggered emails based on certain actions or behaviors are the key to offering personalized and thoughtful customer service without putting more work on the marketer’s plate. What’s more, they represent easy opportunities to generate additional revenue and build brand loyalty in every one of your customer interactions.
Here are six reasons why every business should be sending triggered emails:
Travel is one of the most logistically complex and data-heavy consumer-facing industries in the world. There’s nothing more difficult than optimizing for flight paths and times, finding a hotel, and ensuring you’ve considered a car rental… And this all happens after a consumer decides to make a purchase, which could take several weeks or months.
A common request we hear from our users is, “How do I use 360-degree customer views to generate more accurate or detailed marketing attribution reports?”
Because Canopy Labs’ platform tracks a company’s website activity as well as purchases, subscriptions, or other transactions, we actually enable an extremely versatile way to generate such reports. Today, we’ll show you two examples of marketing attribution using our new platform: one shows how to create a basic attribution funnel, while the second demonstrates how to generate reports for multi-touch and omnichannel marketing strategies.
Basic Attribution Funnel
Over the past few months, we have been working on a completely revamped front-end for the Canopy Labs platform. This includes a fully flexible and customizable funnel analytics query engine. You can select a few actions you want to report on, and we’ll generate customer lists and reports based on everyone who has experienced such a customer journey. Here’s a short video:
Over the past several years, the Canopy Labs team has interacted with a number of financial services companies — in banking and in broader services, such as insurance and management consulting. Our experiences have given us a look into just how similar most analytics capabilities are within these companies, and to think of some opportunities to grow the effectiveness of their models and predictions. With that in mind, we’d like to share a few ideas that have yet to be in widespread use in financial services and represent opportunities for a bank or credit union to differentiate themselves. Here are three growing opportunities in analytics for financial services.
According to Econsultancy, 94% of businesses now recognize that personalization is “critical to their current and future success”. Here at Canopy, we’re excited to hear the idea of personalization being embraced by more and more businesses. But what exactly do most marketers mean when they talk about implementing personalization – and is it going far enough to achieve their business goals?
Black Friday and Cyber Monday represent the biggest sales days of the year – according to Oracle, consumers spent more than $2.9 billion online in the two days alone in 2013. In the UK, consumers are expected to spend a whopping £360,000 per minute for Black Friday this year, and Shop.org predicts an 8-11% increase in holiday spending across November and December.
If your business has been hard at work over the past few weeks promoting Black Friday and Cyber Monday discounts, the last thing you want to encounter is a website outage on the most important weekend of the year. Some of our customers generate nearly 50% of their annual revenue during the holiday period, so every moment lost due to web performance issues can have a major impact on the year’s revenue numbers. Worst of all, your competitors are likely benefiting from customers who were originally planning to purchase from your business.