WHY CUSTOMER DATA PLATFORM IS A GAME CHANGER IN THE FASHION INDUSTRY

With a lot of options available at their fingertips, consumers of the fashion industry are becoming more and more demanding with each passing day.  If you are not capable of meeting their never-ending demands, it won’t take much time for them to move on to another brand that’ll meet their needs and requirements. In simple words, brands have to pay more attention to the experience they are providing to their customers, to retain them. Because of the same reason, customer data platforms have been increasingly becoming popular in the fashion industry.

Data are generally collected from digital and traditional sources inside and outside the company. This is then identified and used as a source for ongoing analysis and discovery. Smart fashion brands have been using this for decades to understand the market, gain an advantage over their competitors, and increase their sales. Want to know more about the importanceof customer data platforms in the fashion industry? Here are few. Read on.

Identify markets

     Customer Data Platforms can help you to analyze the preferences of the people across the globe. It gives you a better insight into the changes in the mindset of your targeted audience, their culture, and lifestyle, thus helping you to identify the right market for your product. It also gives sufficient information to identify your competitors and their strengths and weaknesses.

      Personalized Marketing

Customer’s personal data is now out in the open like never before. The ability of firms to mine bits of actionable business intelligence from such a pool of information has also increased over the years. Browsing history, social conversations, purchase data, and spending trends are all lying in the data lakes waiting to be discovered. If used rightly, these can reveal a lot about your customer’s taste, style of shopping and needs. You can now identify what they are buying, when they are buying and how thus personalizing your marketing.

Increased customer loyalty

In today’s fast progressing world, where your competitors are just a click away, customer loyalty is the new marketing. When they feel taken care of and understood, they are more inclined to buy from you again and again. Especially in fashion and retail, customers place a priority on receiving great service. A customer data platform allows marketers to segment the customer data at deep levels. This means the marketer can offer the most granular and personalized experience to their customers without having to continuously try and make customers fit into their programmed molds. Also, access to the full record of the customer can contribute to customer loyalty.

Data science is undoubtedly a game changer in today’s fashion marketing. The importance of having the right Customer Data Platform in place has become very significant for retailers. Manthan’s Customer 360 is a Customer Data Platform that houses analytical and data science capabilities including look-alike predictions, data explorations, segmentation, and micro-segmentation. To learn more, clickhere>>>