It would be nice to know how it would look before you have it shipped to your home. Imagine you decide to buy a new sofa for your living room. Many companies are investing a lot of money in AR, banking that it will be an important part of both the online and in-store experience. AR is simply defined as technology that enables digital data to be overlaid onto a view of the physical world and is interactive in real time. The big takeaway was that personalization can be scaled. When the computer recognizes the customer, it sends him or her to the correct page based on data, past purchases and anything else that is tied to that persona. As an example, a company might create five different promotions on its website. More than five means you may be segmenting too thin and creating a lot of unneeded effort. Create fewer than three personas and you risk being too general. She suggested creating three to five “personas.” Personas are fictional characters that mimic real customers based on demographics and buying habits collected through research. Great concept when dealing with customers one-on-one, but how can this be applied to a large customer base? Elizabeth Cordeiro, Digital Account Manager at Whereoware, shared ideas on how to personalize to the masses. In the past, I’ve written about creating a personalized experience based on the individual customer’s history and current needs. The concept of a personalized experience continues to be a hot topic. Finally, it collects data on how customers are reacting, or in other words, is the promotional working? Are sales up or down, and why? Watson interprets all of that data and suggests appropriate changes that may be needed. Second, Watson makes suggestions on what to say and how to promote, including photos that work, promotional copy and pricing strategies. First, Watson takes a look at past data, trends and prior successful promotions to suggest what is appropriate for this product at this moment. Imagine Watson, IBM’s cognitive solution, taking a retailer through three important steps in an online product launch. IBM demonstrated some of its latest technology that helps retailers determine how to promote, price and manage inventory. Here are some of the takeaways and observations, in four major topic areas, that can apply to your business: Regardless if you are a traditional retailer, an online retailer or even a B2B company, there was plenty to learn at IRCE.
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