Data Drivers: Tackling Rising CACs

Welcome to another enlightening episode of Data Drivers, hosted by our RETHINK Retail Top Retail Expert, Andrew Smith.

This series is dedicated to empowering retailers with the strategies and insights needed to harness the power of data and analytics. In today’s fast-paced retail environment, understanding your customer’s preferences and behaviors is crucial to staying competitive. This episode focuses on a significant challenge facing retailers today: rising customer acquisition costs (CACs).

Meet the Experts

In this episode, we are joined by a panel of distinguished experts who bring a wealth of knowledge and experience in retail and digital commerce:

• Michael Zakkour, Founder & Chief Strategist at 5 New Digital

• Steve Norris, Vice President, Digital Commerce at Logicbroker

• Rakesh Thaploo, Consult Partner at Kyndryl

• Stephanie Wiles, Sr Director Consulting at Cognizant

Key Takeaways

Our discussion delves into several key areas that can help retailers reduce CACs and improve overall efficiency:

1. Understanding Customer Preferences and Behaviors

   • Utilize advanced analytics to gain deep insights into customer preferences.

   • Tailor marketing strategies to align with customer behaviors and trends.

2. Optimizing Backend Operations

   • Streamline logistics and supply chain management to reduce costs and enhance efficiency.

   • Implement robust data collection techniques to inform decision-making processes.

3. Leveraging the Latest Technology

   • Explore the latest tech innovations that can aid in data collection and analysis.

   • Use predictive analytics to anticipate customer needs and improve targeting.

This episode of Data Drivers is packed with valuable tips and strategies to help retailers tackle the rising costs of customer acquisition through data and analytics. 

By optimizing operations and leveraging the latest technologies, retailers can create more efficient and relatable organizations that meet the demands of today's customers.

Watch the full discussion and gain a lifetime’s worth of value from our experts!