Global FMCG brand improves conversion rates with first-party data and advanced analytics

ACCELERATION APPLICATION OF PREDICTIVE AND ADVANCED ANALYTICS HELPED OUR CLIENT ACHIEVE 2.5 TIMES INCREASED CONVERSION WITH A PRIVACY-FIRST APPROACH

For one international beverage and retail brand managing their customer insights and conversion with third-party cookies had become complex. With third-party cookies consistently challenged and match rates dropping, their marketing team asked us for a solution that would use first-party cookies and data generated on their customer websites as a new foundation for building segments.

In a competitive sector, our client needed a global solution that would improve visibility of their customer touch points, conversions, insights and support a new approach to customer segmentation.

OUR BOLD AMBITION

Our client wanted to use the data signals from their website visits to develop a segmentation model and inform a targeting strategy that would help them improve recency frequency and monetary (RFM) measures and their audience journey, conversions and advanced analytics.

OUR SOLUTION

Acceleration@Wavemaker, in partnership with the client Marketing team, and their tagging agency, implemented a solution in three steps:

• We turned BigQuery into a customer data platform (CDP), connecting log-level data and creating user-IDs through tag management,
  so that segment lists were sent to marketing platforms
• We conducted an ML Analysis to split users based on their buying behavior, and we implemented an RFM of the individual customers
  By combining the data with ML we calculated probability-to-convert based on digital behavior
• Finally, we customized messaging and website experience to adapt to the data finding and predictive model

OUR RESULTS

• Creating a data flow using Tag Manager, Ads DataHub and Campaign Manager 360 (CX360) has enabled us to transform BigQuery into a customer data platform (CDP), that allows advanced ML analysis.
• Through this approach, our client was able to achieve  conversion rates 2.5 times higher than regular retargeting strategies
• The Cloud setup provided deeper insights into customer type and their buying behavior, delivering a data led segmentation of the client’s customer base, based on their likelihood to convert, and enabling long term conversion improvements