In the fast-paced retail industry, promotional offers typically delivered by flyers, weekly ads, or circulars and instore signage are crucial for retailers to stay ahead of the competition. Robust promotional data is therefore vital for retailers to create targeted, localized, and personalized promotions that resonate with their customers.
This can be achieved through data analytics and artificial intelligence, which can analyze customer behavior, preferences, and purchase history. However, weaknesses in data decentralization is a significant obstacle that can also result in inconsistent data, duplication, and errors.
Creating and distributing digital promotional offers requires accurate, up-to-date, and consistent data across all channels. This is where retailers face the challenge of ensuring the robustness of their promotional data. To overcome this challenge, you need to centralize and harmonize data sources, ensuring that all data is consistent and up-to-date.
Data quality is another aspect that retailers need to address. Ensuring that data is accurate, complete, and error-free requires regular data cleansing, validation, and enrichment. You will need to use data governance tools to ensure compliance with industry regulations and standards. Sometimes it simply is looking at the processes to understand where the correct information is hiding, and how can you return it to release it.
In today’s world, where the pandemic and the shift to digital have created market uncertainty, retailers also need to invest more time and resources in data research to understand customer mindsets and shifting business trends. Investing in specialized promotional offer technology, brand, and customer experience technology is critical to closing gaps and delivering more valuable products.
Retailers need to invest in simplified data management solutions that support promotional efforts and ensure the success of the marketing strategy. By centralizing and harmonizing data sources, ensuring data quality and data transformation processes, retailers can create high quality targeted and personalized promotions that drive sales and customer engagement for any scenario, channel, and format. ARiSTiD’s OmniPublish platform centralizes and harmonizes all the data and information with robust laser accuracy.