Monetate, the leading provider of multi-channel personalization to the world’s best brands and Customer Portfolios, LLC, the build, host, analyze and monetize marketing database company, announced today that they have further innovated personalization with the integration of Monetate’s personalization platform and the Customer Portfolios (“CP”) proprietary marketing database and closed-loop customer tracking. By connecting these two digital marketing powerhouses, brands are creating superior customer profiles that are driving tailored, omnichannel marketing campaigns through optimized targeting, improved measurement and enhanced customer experiences.
Customer Portfolios’ marketing database is the sophisticated epicenter of Customer Portfolios’ closed loop marketing architecture. The CP Marketing Database incorporates data from all customer touch points, as well as behavioral information from social and mobile channels and closed-loop feedback from outbound marketing programs. The Monetate personalization platform is based on a click stream algorithm that captures a customer’s journey on a website once the customer has clicked on an email and navigates to the site. Through this partnership, Customer Portfolios developed an API that enables Monetate data to be augmented by transactional and behavioral data-based customer profiles generated by the CP Marketing Database.
“Combining Monetate for Personalization with the power of Customer Portfolios takes personalization to a new level,” said Augie MacCurrach, founder & COO of Customer Portfolios. “The intelligence that is being infused into marketing campaigns when solutions like Monetate’s are connected to the CP Marketing Database is generating campaigns that are driving significant ROI, customer lifetime value, and customer engagement.”
“Delivering personalized one-to-one experiences requires a well-rounded and deep understanding of the customer’s individual profile. To do this effectively means marketers must often pull together data from multiple, disparate systems and sources,” said Colton Perry, vice president, Partnerships and Business Development, Monetate. “Our partnership with Customer Portfolios allows us to enrich the customer’s individual profile and provide marketers a more holistic vantage point. We’re committed to building a vibrant partner ecosystem at Monetate in order to provide an optimal business experience for our customers — this is evidenced in the great work we’re doing with Customer Portfolios.”
“Working with marketing technology companies like Monetate is furthering the goal of achieving total customer monetization by enabling marketers to assemble a holistic view of the customer from the fractured view that is epidemic in marketing organizations,” said Perry Cooper, CEO, Customer Portfolios. “Understanding the customer profile is the first step to ultimately achieving total customer monetization. Appending and leveraging the CP profile to Monetate’s algorithm generates more effective and relevant campaigns resulting in substantial response lifts.”
Johnston & Murphy: Customer Experience Redefined by Data
Case in point comes from retail giant Johnston & Murphy (“J&M”), which was no exception to having a fractured view of the customer. Like so many companies, J&M had over time assembled a set of marketing technology solutions that gathered data from different points along the customer journey. And like so many other companies, the customer data remained in silos and was not optimized within the marketing organization. This resulted in the company only understanding a fraction of the customer and to customers receiving marketing communications in an un-orchestrated manner.
Johnston & Murphy turned to its marketing technology partners to facilitate the integration of key data sources to support a holistic customer profile, a move towards lifecycle marketing and achieving total customer monetization.
Customer Portfolios had built the J&M marketing database and was already able to connect transactions (online and in-store purchases) with email communication. However, the customer’s online website behavior — i.e., products searched, time spent on the website, etc., remained a missing key to truly understanding the customer.
Customer Portfolios and Monetate worked together to link the customers in the marketing database with those who visited the Johnston & Murphy website. In total, Monetate and Customer Portfolios were able to match 20% of those who visited the Johnston & Murphy website within the marketing database and the ability to personalize by gender, lifecycle stage, product or category. Sample results from initial gender-based testing include the following:
- 6.6% lift in average order value for female test over control
- 16.4% lift in revenue per session for female test over control
- 23.3% lift in new visitor conversion of first time customers for female test
- 6.4% lift in conversion per session for male test over control
“The ability to connect the dots like this will allow us to cut down on repeat and irrelevant marketing campaigns and has empowered us to create the very best experience for our customers,” said Heather Marsh, vice president of Commerce, Johnston & Murphy (Genesco). “This is the closest we have come to being able to bring our legacy as a high-customer touch retailer to today’s digital marketplace where a significant percentage of our customers now do their browsing and researching. And this is a first and significant step toward J&M creating customer profiles that leverage our marketing tech investments to drive high returns on marketing spend.”
Monetate is the global leader in providing multi-channel personalization to the world’s best brands. Built for speed, the Monetate Platform’s easy-to-use interface allows marketers to create, test and deploy an unlimited number of personalized digital experiences with limited need for IT or consulting resources.
With Monetate, marketing is transformed from a world of discrete campaigns to one of always-on, personalized experiences that maximize the lifetime value of each individual customer.
Monetate is used by the world’s leading retail brands to grow revenue faster by being faster. Founded in 2008, Monetate influences billions of dollars in revenue every year for world-class companies like Macy’s, QVC, Patagonia, Sur la Table, The North Face and hundreds of other market leaders.
About Customer Portfolios
Customer Portfolios’ hosted customer data platform, The Customer Portfolios (CP) Marketing Workbench™ empowers global retail marketers with easy access to the information and insight needed to create highly personalized, omnichannel marketing campaigns that attract and retain best customers. Working with the CP team of marketing experts, clients like Johnston & Murphy, Journeys, Subway, Teleflora, Frye, Tourneau and Dunkin Donuts are consistently demonstrating marketing ROI and increasing customer lifetime value. Based in Boston, MA, Customer Portfolios, LLC is a privately held company. For more information visit www.customerportfolios.com.