In this episode of Talk Commerce, I had the pleasure of chatting with Cary Lawrence, the CEO of Decile, a customer data and marketing platform built by marketers for marketers. Cary shared her passion for food and cooking, but more importantly, her deep insights into the world of data-driven marketing. Join us as we delve into the power of first-party data and how Decile is helping marketers create personalized experiences that drive customer loyalty and profitable growth.
Navigating the Cookieless World with Decile
Cary explained how Decile is well-positioned to help marketers thrive in a world without third-party cookies. By focusing on identity-based marketing and leveraging first-party data, Decile enables marketers to create personalized experiences without relying on device IDs or cookies. As someone who values privacy, I appreciate Decile’s approach to using data responsibly while still delivering value to customers.
The Art of Personalization: Balancing Relevance and Privacy
One of the key challenges in personalized marketing is striking the right balance between relevance and privacy. Cary emphasized the importance of creating an equal value exchange, where customers willingly share their information in return for personalized offers and experiences. By leveraging machine learning to analyze customer attributes and behaviors, Decile helps marketers deliver targeted messages that resonate with individual customers without crossing the line into invasiveness.
Finding Your High-Value Customers with Predictive Analytics
Cary shared a fascinating insight: the top 10% of customers are often responsible for 40-60% of a company’s revenue and profit. This highlights the importance of identifying and nurturing high-value customers. Decile’s predictive analytics capabilities help marketers identify not only their most valuable customers today but also those with the highest propensity to purchase in the future. As a marketer myself, I can attest to the power of focusing on retention and extracting more value from existing customers.
The Future of Marketing: Sustainability, Loyalty, and AI
Looking ahead to 2024 and beyond, Cary identified several trends that will shape the future of marketing. Sustainability, both in terms of packaging and product, will continue to be a key focus for consumers, especially younger generations. Customized loyalty programs that cater to individual preferences will become more prevalent. And while the role of AI in customer service is still evolving, Cary believes that generative AI and chatbots have the potential to streamline and improve the customer experience, provided they are executed flawlessly.
The Final Data Bit
My conversation with Cary Lawrence was a fascinating deep dive into the world of data-driven marketing. As marketers, we have a responsibility to use data ethically and responsibly, always keeping the customer’s best interests in mind. By leveraging the power of first-party data and predictive analytics, we can create personalized experiences that delight customers and drive profitable growth. If you’re looking to take your marketing to the next level, be sure to check out Decile and the innovative work they’re doing in the space.
