A key moment for all retail companies is the markets expansion either with physical shops or with marketing campaigns in new areas. This is the moment when the company must decide between all the expansion possibilities it has, it is often difficult to know what to base this decision on.
At FLYDE we recommend you to avoid taking these important decisions based on intuition or convenience, but rather driving your decisions on your data, thus optimising the results.
Unify all your data
To make the most out of this data, you must be able to collect it, store it in a safe place, and structure it so it can be useful later. All this is possible with the use of an Intelligent CDP. Your data, and the data you have from your multiple sources (RR.SS., CRM, Excels, etc.), you can unify it in FLYDE, and add all the socio-demographic and market data, to obtain a much broader picture of your customers.
This 3rd party data that you can add with the use of an Intelligent CDP, will enrich your data in a very remarkable way. The addition of external data to the company, such as the average income level in a neighbourhood, or the type of homes that predominate in it (first homes, second homes, etc.), will allow your company to have an enriched picture of your customers.
Obtain a 360º view of your customers
With this wide range of data unified in one platform, you will be able to obtain hyper-detailed profiles of your customers in order to segment them later. So, if in your database you have Jhon, who lives in Queens, the customer profile you have will show you the sum of characteristics of this specific neighbourhood so that you can then segment those customers to find patterns of behaviour among them.
If you have a fast food chain, and John is your regular customer, you will be able to compare him with the rest of your regular customers, and find similarities. Once you have found the similarities between regular customers (income, type of housing, shopping hours), you can generate an audience with this customer profile, and then target campaigns to this type of customers.
Whith the use of FLYDE, apart from the 360º vision you have of your consumers, you can also find different forecasting models, thanks to Machine Learning, which will allow your company to boost profits.
One of these tools is Geomarketing, a tool that will allow your company to relate your customer to their geographical area, and obtain all the necessary information for future marketing campaigns. Thus, all the aforementioned data can be visualised and collated on a map of the market in which your company operates, and FLYDE Brain (FLYDE’s ML tool) will provide you with exhaustive data processing.
Continuing with the example of the fast food chain, when the time comes for your company to expand (open a new restaurant), you will be able to compare your current customers with the characteristics of potential customers in areas with similarities, and FLYDE Brain will recommend you to expand into the most suitable area for your business, according to your potential customers location.
Do you want your company to move on to the next level? A CDP is the key tool that will allow you to maximise the potential of your data and grow your business. Working like the big multinationals in the market, which already have this type of software, and having control over all your data is now very simple.
Moreover, if you do not have IT or Data Scientist teams, this tool will allow you to outsource this function. And if you have them but want to reduce their workload and give more autonomy to your marketing and business teams when it comes to working with data, implementing an easy-to-use CDP would be the best option for your company. It will allow any single member of your company to use it, as this softwares are prepared for them.
Start taking control of your data today.
Book a free demo with our consultants and find out what FLYDE can do for you and your company.