Imagine a thousand tired, cold, hungry moms and dads lined up outside your store on Black Friday. At 5AM your doors open as they all frantically rush in hunting and elbowing their way to find that perfect gift on the children’s Christmas list. Some may find it. Several who do find the product will pick it up, look at the label, the price then throw it back on the table. Some who pick up the product, will look at the price and put it in their shopping basket. Some will take it to the checkout, pay for it, take it the car and then home. If ten of the one thousand shoppers completed their purchase that would only be a 1% conversion rate on Black Friday. If there was only a 1% conversion rate at Target on Black Friday somebody would be fired, but regrettably as marketers we’ve allowed ourselves to accept a miserable 1% as the norm for our website.
So, the realized benefits of Pimcore’s Customer Data Management Module are increase sales, conversion rates and improved customer retention. Christian Kemptner, Marketing & Partner Manager at Pimcore, further explains that a customer’s activities will trigger marketing automation and personalization to provide the right content, images, and pricing to the right audience at the right time.
This objective of Customer Data Management (CDM) which includes the collection, analysis, organization, reporting and sharing of customer information throughout the entire organization. It is simply knowing your customers interests, buying patterns and behavior to convert more online visits to sales. As a solution it is often called a Customer Data Platform (CDP) and projected to be a one billion dollar industry by 2019.
By understanding each individual customer’s behavior on your website; how they online shop, how they use other marketing channels and then combine that with other data-sources, this can trigger automation to personalize and optimize their digital experience. Then by synchronizing and integrating with email, newsletter and social media, all content is relevant in real time to optimize the conversion rate.
Pimcore offers the best in class solution for this. For those few individuals who may not know this highly rewarded and regarded product, Pimcore is an open source Digital Experience Platform (DXP), which seamlessly unites data management and experience management within a single digital platform. It offers Product Information Management (PIM), Master Data Management (MDM), Digital Asset Management (DAM), Customer Data Platform (CDP), Web Content Management (WCM) and Digital Commerce Platform(e-commerce) in a single suite. Trusted by over 80.000 companies from around the world.