December 18, 2024
0
 min read

Unlock 100x more value from your customer data with Simon

Author
Zack Wenthe
Product Marketing Lead

Imagine unlocking 100x more data to power your customer marketing activities.

Marketers can capture various data points about their customers. While this is magnitudes higher than it was 10 years ago, it is failing to keep up with the speed of customer expectations.

To help match the speed of customer expectations, Simon Data is releasing three new features that will enrich your customer data to provide deeper context into your customers.

"There's only so much data you may be capturing already, but there's much more context you just don't know about your customers based on how someone purchased online. But that understanding is how organizations will exceed the expectations of their customers and therefore increase revenue and be more competitive in 2025" - Jason Davis, CEO, Simon Data.

As a leading Customer Data Platform (CDP) solution focused on growing customer lifetime value, Simon Data is committed to empowering organizations to unlock the full potential of their customer data, and this release is just the beginning of helping marketers unlock new revenue opportunities from their data. 

Enrich+: Enhance your Customer 360

Enrich+ is a powerful addition to Simon Data's suite of data enrichment tools. Enrich+ will provide brands with core demographic fields within Simon Data without managing additional vendor contracts. These fields enrich your customer profiles with valuable demographic data, providing a richer understanding of your customer base.

enrich+ example using simon data

Benefits of Enrich+

  • Improved customer segmentation and targeting: Target specific customer groups based on demographics such as age, location, income, and household characteristics
  • Personalized customer experiences: Craft more relevant and personalized messaging by understanding the demographic nuances of your audience
  • Comprehensive understanding of customer demographics: Gain valuable insights into the makeup of your customer base to inform marketing strategies and product development

Enrich+ is designed to work seamlessly with Simon Data and provides a robust foundation to improve segmentation and AI modeling.

Simon Predict: AI scoring at your fingertips

Simon Predict has always been at the forefront of leveraging machine learning to provide actionable insights. We continue this trend by releasing a new model to our Simon Predict suite: Engagement Index.

Engagement Index is a brand-specific measure that can be applied to various use cases where you want to segment based on engagement. This metric captures a customer's overall engagement across multiple disparate channels with your brand based on multiple signals that can be used for the model. 

Marketers can use this scoring to create segments and personalize based on customer engagement with current touchpoints. This can be combined with other attributes or predicted models for even more granular control.

Simon Predict's overall power lies in giving marketing teams a deep understanding of their customers' behaviors and preferences. Marketers today use Simon Predict for:

  • Intent prediction: Simon Predict accurately predicts customer purchase propensity and engagement score, allowing marketers to target the right customers at the right time
  • Preference modeling: Leveraging powerful AI algorithms, Simon Predict delivers personalized product recommendations tailored to each customer's unique preferences
  • Lifecycle analysis: Simon Predict provides insights into customer churn propensity, second purchase likelihood, and predicted lifetime value (LTV), enabling marketers to optimize customer engagement strategies

AI Smart Fields: Smarter data for better segments

Smart Fields are a big leap forward in customer data enrichment. Smart Fields go beyond traditional data fields by leveraging our Agentic AI framework and customized AI models to generate attributes tailored to you based on your own data. 

These insights can be created by brands directly, as part of our Campaign Lifecycle Services engagements, or recommended by our Agentic AI tools based on your business goals. 

Our Agentic AI can enrich both customer profiles as well as other object data like product catalogs to be used directly in the CDP and stored securely in your Cloud Data Warehouse for use by the entire enterprise. 

Because these Smart Fields are based on your data and business needs, there are no predefined models like traditional machine learning models, leaving room for deep experimentation and creativity. 

Customer Enrichment

The Customer Enrichment workflows are focused on uncovering hidden details in your customer profiles. These details can be permanent additions to a profile, like a customer’s favorite coffee profile based on purchases, or highly transient, such as the expected high temperature today based on the customer’s zip code. 

Here are some examples of how brands can use Customer Enrichment:

Impulsivity Scoring can measure a customer's impulsivity based on overall buying patterns or even within a specific product category. Using this scoring, a marketer can adjust and test CTAs to trigger a conversion based on the customer's receptiveness. 

Affinity Scoring can measure a customer's interest across various categories. This is important for multi-category retailers to target product suggestions. This model can be used for more complex situations like travel to understand destination preferences based on past behavior or current searching options. 

Creative Preferences can help marketers target customers based on the types of creative they respond to or even the tone of messaging used. A travel customer who likes relaxing and peaceful messages and creativity can be targeted differently than an adventurous and social traveler. 

Weather can be enriched to help understand a customer's current situation. A retailer who knows the expected temperature today can adjust campaigns quickly or even target customers. 

personalized marketing with simon data using smart field details example

Object Enrichment

The Object Enrichment workflows are focused on adding deeper context to your enterprise context data for richer segmentation and personalization. This unlocks the ability to enrich your data with both data from a customer-specific context and a universal context. 

Product Classification can add context to how customers might use your products in the real world based on product reviews or feedback. In addition, you can use product classification to add detail to a PIM or CDW much quicker than a traditional tagging exercise. 

For example, you can enrich product catalogs based on the details in the product reviews to identify dresses that are best suited for a wedding. Now you can send an upsell email to a customer who bought a dress often used for a wedding with a pair of shoes that are good for dancing. 

Zero-Party Data Enrichment adds detail to information collected about customers that might not be part of their core customer profile. For example, a customer may own multiple dogs and have supplied the dog breeds; now, you can enrich product recommendations based on the size of the dogs, hair types, or activity level. You can enrich a primary house and all their ship-to zip codes with plant zones to identify outdoor plants that would work best for their region. 

Smart Fields allow organizations to:

  • Uncover hidden customer insights: Go beyond surface-level data to reveal nuanced customer preferences, behaviors, and intent
  • Create smarter campaigns and segmentation: Build highly targeted segments based on AI-driven insights, ensuring marketing efforts reach the most relevant customers
  • Eliminate blind spots in your data: Expand your data fields with unique and brand-specific fields that you couldn't have without complex data science support

These are just a few of the examples available today. Customers can work with Simon Data to develop brand-specific Smart Fields to power any campaign. 

Benefits for Simon Data users

These features are designed to work together to unlock unparalleled personalization capabilities. By combining these tools, organizations can:

  • Create a truly data-driven marketing strategy: Make informed decisions based on demographic enrichment and then use AI-powered segments to grow revenue in underperforming demographics
  • Deliver hyper-personalized customer experiences: Tailor interactions, messaging, and product recommendations to individual customer preferences and needs, even if you don't have product details linked to customer profiles
  • Maximize customer lifetime value: Cultivate long-lasting customer relationships by anticipating needs, fostering engagement, and delivering exceptional experiences without frustrating customers by over-advertising and over-targeting

Ready to unleash the power of AI in your marketing efforts? Watch our webinar to learn how to streamline and enhance marketing personalization using AI, customer data, and your CDP.

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