Building an incredible omnichannel experience across the entire customer journey continues to be a critical initiative for retailers in the UK.

A stronger experience leads to stronger retention, and with acquisition costs rising, keeping existing customers happy is critical to retaining revenue, driving repeat purchases, and winning customer referrals.

To that end, personalized experiences will be of the utmost importance. In fact, research shows almost 80% of UK brands plan on increasing their investment in data management platforms this year. Why?—Because better data management allows for the creation of more accurate customer profiles, and those profiles are critical to enhancing personalization.

You can use this report (created in conjunction with WBR Insights) to:

• Build better omnichannel experiences across the customer journey
• Deploy personalization with more efficacy to retain and gain shoppers
• More deeply understand the role emerging apps and mobile technologies will play in the customer journey

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Here’s a brief snippet

When economic headwinds arise, some retailers attempt to navigate the challenge by increasing ad spend and running aggressive promotions. The theory is that ramped-up acquisition can offset churn and slumping average order value (AOV). Unfortunately, this is a costly and ineffective approach.

Pricier ad rates and worsening ad performance are combining to make today’s acquisition environment an inefficient one. Research shows acquisition costs are up more than 200%, with merchants losing an average of £23 for every new customer acquired (up from £7 in 2013).

Rather than focus on acquisition, retailers across the globe should ask themselves ‘how can we extract more value from the customers we already have?’

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