A Deloitte study found that holiday retail sales are expected to increase between 7%-9%, while ecommerce sales grew by up to 15%.
With the emergence of new privacy regulations, it is becoming increasingly difficult for businesses to target buyers. To target buyers effectively this holiday season, brands must use the first-party data as the foundation and then add third-party data into the marketing mix to find buyer behaviour patterns better.
Combining first-party data with third-party data can provide brands with a more well-rounded view of buyer personas, including information on purchasing behaviour, spending power, interests, and demographics. Leveraging data analytics and business intelligence tools can help brands find customers with a high customer lifetime value.
Along with using data insights to personalise marketing efforts, brands should use every touchpoint to tell a powerful story about what the brand stands for. Further, optimise customer experience to build an authentic customer relationship, improve brand engagement and increase repeat customers.
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[4 minute read]