Discover new opportunities with AudiencesBy Joscelyn Comstive on August 8, 2023 - 5 Minute Read
Delivering personalization at scale should feel achievable for every business. At Peak, we’re committed to helping businesses provide customers with a thoughtful experience, where every interaction considers their specific AI-driven predictions, behaviors and preferences.
1. Smart segments
Starting with smart segments, Peak finds the key opportunities for you.
This new addition to Audiences searches for significant changes that help with your specific goals, such as increasing average order value (AOV), conversion, lifetime value (LTV) or reducing churn.
Using advanced analytics, Peak monitors your customer base, tracking data like transactions, location, churn risk, lifetime value or propensity to buy — to name a few! When there is a meaningful change, opportunities are highlighted in your existing segments and the brand new segments Peak is suggesting you create.
With smart segments you can get ahead of microtrends, find hidden pockets of valuable customers and be forewarned of potential risks with enough time to take action.
Social and digital teams can utilize smart segments to optimize paid spending, using the recommendations to seed audience lists in Meta, TikTok, Snapchat and other social platforms. This helps to fine tune your ads and increase return on ad spend (ROAS) by talking to the right audience, at the right time, about the products they’re most likely to buy.
Marketing and CRM teams can also use smart segments as a tool to collaborate with trading teams. This means you can go into your Monday trade meetings armed with information on what products, brands and locations are helping or hindering sales and which audience is the most relevant to target. Working together, you can plan which segment of your customer base to send tailored communications or promotions to.
2. Richer customer analytics
We’ve also expanded the customer analytics capabilities of Audiences. You can now deep dive into important customer segments, breaking them down even further and exploring changes over time for AI-driven predictive attributes.
With different display options for understanding how customers are moving, you can quickly spot what’s important and instantly move from analysis to action.
For example; how many people in your bargain shoppers segment, in the past month, have moved from low to medium predicted lifetime value and how does this compare to the previous period?
For marketers, the information gives you early signals if your targeted campaigns are having the desired effect. Are the majority of customers moving towards a lower churn rate? Great, let’s up the spend. Is churn rate increasing? OK, let’s adjust the campaign and monitor it closely.
At Peak, our product team is continuously working to improve Audiences and the application’s capabilities. It’s all done with the aim of helping companies squeeze more juice from your data, so that you can deeply understand your customers, and ultimately provide them with a consistently great experience wherever and however they interact with you.