At our latest Waffle Wednesday event at Wonderland Coworking Helsinki, Tatu Kuivalahti, the co-founder of Custobar came to share with us how to unlock the power of B2C Customer Data. Custobar is one of the first members at Wonderland coworking space. The company has established itself as a market leader in Finland. Dedicated to harnessing the potential of B2C customer data, Custobar’s mission is to empower small and medium-sized enterprises with actionable insights. By leveraging this data, Custobar enables these companies to enhance their customer engagement, optimize marketing strategies, and ultimately drive business growth.

What is Customer Data All About?

Customer data, at its core, encompasses all the information collected from various interactions customers have with a business. This data comes from a multitude of sources: e-commerce platforms, physical stores, marketing tools, websites, and even customer service interactions.

The primary challenge businesses face is consolidating this scattered data into a single, cohesive system. Custobar addresses this issue through its Customer Data Platform (CDP). This platform unifies data from all sources, creating comprehensive customer profiles.

Once the data is centralized, it can be segmented and continuously updated. These segments allow businesses to effectively reach their target audiences through various channels such as email, SMS, push notifications, and advertising platforms. Custobar’s solution ensures that businesses can leverage their customer data to enhance engagement, personalize marketing efforts, and drive better results.

The Customer Data Process

To summarize the customer data process, Tatu presents a demo of Custobar, illustrating the power of a 360-degree view of an individual customer. This comprehensive view is the foundation of effective customer data utilization, centralizing all customer information in one place for easy visualization and analysis.

A 360-degree view is essential in today’s complex market landscape, where multiple sales channels and touchpoints make it impossible to fully understand customers without the right tools. Custobar addresses this by collecting and visualizing data for each individual customer, allowing businesses to see a complete picture of their interactions and behaviors.

Tatu showcases an imaginary customer profile for a bookstore. This profile includes essential details such as the customer’s name, direct marketing preferences, and key performance indicators (KPIs) like purchase frequency, categories, and channels used. This data helps to understand the customer’s basic purchase behavior and enables the company to generate AI-driven recommendations. For instance, the system can suggest the best products for the customer based on their purchase history and collected data.

Detailed Customer Data Insights

Tatu further explains the types of information included in customer data profiles. This data encompasses various touchpoints, such as:

•       Messages the customer has received
•       Items added to the shopping basket on the website
•       Segment data that can be utilized for targeted advertising campaigns

By analyzing this data, businesses can ensure they remain relevant to their customers and enhance their customer service.

The Purpose of Comprehensive Customer Data

The ultimate goal of collecting and analyzing customer data is to improve relevance and service quality. By understanding individual customer behaviors and preferences, businesses can create more personalized and effective marketing strategies. This leads to better customer engagement, increased satisfaction, and higher conversion rates.

In conclusion, Custobar’s approach to customer data empowers businesses to harness the full potential of their customer interactions. Through detailed data collection and analysis, companies can gain valuable insights, drive personalized marketing efforts, and ultimately, provide superior customer experiences.

From Individual Insights to Targeted Campaigns: Leveraging Customer Data with Custobar

Once individual customer data is collected, the next crucial step is creating customer target groups. Custobar’s demo showcases how businesses can use a search bar to gather various data points and form the desired target groups. These groups can be based on specific criteria such as location, browsing history (e.g., customers who browsed a comic store), and other relevant data. By analyzing the purchase behavior of these groups, businesses gain a comprehensive understanding of the segments they are working with.

Market Automation and Personalized Campaigns

With the necessary information at hand, businesses can move forward with market automation. Custobar enables the creation of advertising campaigns tailored to specific segments or even individual customers. By leveraging collected data, businesses can develop personalized advertisements that showcase products likely to appeal to each customer. This personalization enhances customer engagement and increases the likelihood of conversions.

Performance Analysis of Targeted Campaigns

Analyzing the performance of targeted campaigns is essential for continuous improvement. Custobar provides tools to evaluate the effectiveness of campaigns by examining top-selling products across both online and physical stores. This omnichannel analysis is particularly valuable for clients operating in multiple sales channels, allowing them to understand conversions comprehensively.

One of Custobar’s standout features is its ability to automatically collect data on customers’ past purchases, including what they bought, how many times, and within what timeframes. This feature is crucial for identifying issues with customer retention. By analyzing past purchase data, businesses can understand why loyal customers might not have made another purchase or why one-time customers didn’t return.

What are the key benefits of analyzing and understanding customer data?

•   Understanding Customer Retention: Gaining insights into why loyal customers may not return.
•   Identifying Retention Issues: Discovering reasons behind one-time customers not making repeat purchases.
•   Evaluating Customer Quality: Assessing the overall quality of customer interactions and engagements.

By creating detailed customer profiles, forming targeted groups, and leveraging market automation, businesses can execute highly personalized and effective marketing strategies. Performance analysis and insights into past purchases further enhance the ability to understand and meet customer needs, leading to improved customer satisfaction and business growth.

Watch the whole talk on YouTube here!

Are you interested to become speaker at Waffle Wednesday hybrid event?

Send us an email at hello@wonderlandwork.fi