CCG Analytics Launches Customer Intelligence for Retail
CCG Analytics (CCG) has launched Customer Intelligence (CI) for Retail, an analytics platform designed to help mid-market retailers improve customer acquisition and retention, uncover business insights and extend reliable customer data throughout the entire organization. Early adoption of the solution by vineyard vines netted the American clothing and accessory retailer a more than 150 percent return on investment in the first year of utilization through more personalized campaign development and a better understanding of customer buying behaviors.
CI for Retail consolidates and analyzes data from all marketing applications, operational systems and third-party software for access to a complete view of customer buying behaviors, preferences and interactions. Developed for marketers but serving as a foundation for enterprise-wide initiatives, CI for Retail replaces disparate customer data and best-guess targeting with a single, unified platform offering real-time analytics, dashboards, self-service reporting and machine learning. Built on Microsoft cloud technologies, Azure Data Warehouse is at the center of the platform, and Power BI provides front-end reporting and advanced data visualizations.
vineyard vines, whose brand was built on putting the customer first and an “Every day should feel this good” philosophy, needed advanced analytics capabilities to support the same level of sincere, personal service that molded their business 20 years ago. CI for Retail was implemented to help the vineyard vines marketing team better visualize and understand their rapidly growing customer base, optimize their omnichannel strategy, and ensure customer data was easy for all departments in the organization to access, interpret and act on.
Through transactional and demographic append data, vineyard vines was able to identify a large audience of women purchasing men’s and/or children’s products but not purchasing for themselves. To increase this segment’s customer lifetime value through cross-department shopping, the marketing team deployed a targeted women’s editorial mailer with an offer valid exclusively on women’s products. The campaign drove approximately 46% more per mailed piece than the 2018 average, led to the deployment of an additional send in H2 of 2018, and served as a springboard for testing similar strategies for other customer segments.
“This is illustrative of what can be discovered by opening up visibility into consumer behavior,” said Chris Fitzpatrick, vice president of business analytics and strategy at vineyard vines. “The ability to unlock a more granular understanding of vineyard vines customers and support more personalized campaign development represented an ROI of over 150 percent in the first year of the platform being operationalized.”
vineyard vines also leveraged CI for Retail to drive coveted holiday sales. “We were retaining existing customers very well, but during the 2018 holiday season we noticed a dip in customer acquisition rates,” said Fitzpatrick. “We were quickly able to act off this information and implement two credit card acquisition partnerships that targeted our best potential customers, resulting in a very successful holiday period.”
CI for Retail is helping vineyard vines drive additional revenue opportunities across real estate, e-commerce and merchandising functions. The platform has enabled the retailer to accurately measure the incremental value of new brick and mortar stores against their overall business, develop a website personalization strategy to increase online sales, and better understand buyer demographics.
“It’s very difficult to keep pace with today’s discerning omnichannel customer, given the numerous touchpoints and vehicles retailers must use to attract and retain their most valuable customers,” said Dan Rodriguez, chief product and strategy officer for CCG. “Retailers need a solution that can quickly adapt to market fluctuations and continuously evolve with the business. CI for Retail’s SaaS-based platform supports this agility in a way that traditional on-premise solutions can’t. We developed CI for Retail for innovative retailers like vineyard vines who want to gain greater visibility into the entire customer journey and provide truly customer-centric experiences.”