With third-party cookies soon becoming invalid, the iOS platform enabling the new SKAdNetwork technology, and the push for data protection such as the EU’s GDPR and California’s CCPA, brands are still trying to get a grasp of the complete profiles of individual customers in real-time; therefore, the CDP customer data platform has become a key tool in helping with customer growth and brand performance. The CDP all-channel customer data platform launched by iKala is a user-centric data analysis and customer growth solution; it uses data integration and prediction modules to perform marketing, which can accelerate the increase in operational performance and optimize conversion rates for the retail, media, gaming and finance industries.
Three major strengths of iKala CDP
Yu-Shuang Ting, marketing director of ETMall’s e-commerce department, indicated that currently, because of the use of various media channels, the amount of data obtained is too large, resulting in all-round e-commerce companies not analyzing data or not making decisions properly or fast enough. Therefore, they have always been looking for a suitable data integration platform to speed up decision-making, and iKala CDP has become the first choice for this.
In the past, data such as that of the GA360 website, apps, official LINE accounts, ERP, and CRM could not be applied in real-time; however, through iKala CDP, the data from all channels of a single client can be quickly integrated to truly understand the value of the data. Not only does this allow the profile of single customers to become clearer, it can also help brand customers create their own data ecosystem to truly grasp the data and lay the foundation for future AI applications.
Next, the integrated data can be analyzed and predicted through AI to divide the customers into groups and form prediction modules automatically, using AI to compute the golden audiences that are most likely to make purchases for brand customers. In the past, the grouping and management of members was done through subjective impressions or purchase patterns, but in the end, it was discovered that the average order amount still fell short of the index, and grouping judgements were easily affected by extreme values. This resulted in the recommended products not necessarily being what the customers needed, which might instead affect the customer’s consuming experience. Therefore, iKala CDP uses different leading indexes and weights to calculate the audiences and extract the golden audiences.
Data-driven advertisement and precise communication are then conducted to the golden audiences to achieve the goal of gaining customers. In the past, brands had to export large amounts of list data manually and then import it into the corresponding advertisement platforms individually. Not only did this waste time and have limited results, there were also information security risks. After iKala CDP computes the golden audiences, they can be pushed to individual advertisement platforms directly according to the golden audience, digital footprint and channel preferences in the first-party data to create higher return on investment.
3 major strengths of iKala CDP, letting data create long-term competitiveness
ETMall implements iKala CDP
iKala also pointed out the issues that ETMall currently faces as it is actively trying to expand new customers. After large numbers of new customers entered the membership stage, they still were unable to identify member audiences accurately, and there was reduced conversion rate, causing follow-up development to stagnate. ETMall then implemented iKala CDP to reintegrate the data and create data-driven marketing strategies.
iKala CDP used data indexes including the conversion rate, predicted lifetime value, the activation rate of sleeping users, and the churn rate to help the marketing staff understand customer values, allowing product recommendation and promotional plans to be closer to what the customers need. iKala CDP extracted 4 major audiences for ETMall: non-purchasing members, sleeping members, general members, and loyal members. iKala then designed different marketing and communication strategies.
Take the non-purchasing members for example. The marketing staff should identify the best-selling products for the season to encourage these members to purchase them. As a result, the average order amount for the new customers that were more difficult to convert in the past increased by 52%, and the conversion rate increased nineteenfold. As for members who had already made purchases, the marketing staff selected corresponding products to communicate to them through member values, further reducing the cost per click by 13% and the purchase cost by 15%.
iKala CDP extracts golden audiences and expands member values
For the future in-depth management of members, brands can first use AI to compute the golden audience and get a grasp of the member value of each group in order to develop marketing strategies effectively. iKala CDP has powerful machine computing and learning, as well as built-in audience prediction models; it can integrate different data sources to compute the weight conditions and quickly help brands identify member values. At the same time, the resources of the iKala Group can also be combined, including its iKala Commerce service to help brand customers seize business opportunities in social e-commerce, as well as its subsidiary CloudAD’s digital smart cloud marketing to solve the pain points of clients’ inability to have automated marketing and accurate advertising.
(This article was reproduced from TechNews.)