STORES Magazine - September 2017 - 49

brought them to our site. The platform
helps our team prioritize promotions and
understand our customers better."
Members of the marketing team at
Dermstore can access customer data
through the platform and easily segment
customer data. It is no longer necessary
to take a number and wait for help from
an overworked IT department: Marketers
can run their own data queries.
"Segmentation Studio has helped us
bring power back to our marketing team,"
Beaupain says. "Our team runs its own
queries in our large data pool to come up
with strategies that actually work."
The retailer's results have been even
healthier since using the new platform for
customer segmentation. Dermstore has
realized an overall revenue lift of about 2
percent on its entire business.
DELVING INTO DATA
Custora has been in business since
2011 and its software has evolved quite
a bit over time, says CEO Corey Pierson.
"In the earliest days, the software was
predictive analytics. We thought if we
could surface insights, marketers would
know which ones to use."
Pierson says the typical retailer has
many separate marketing tools - one for
email, one for Facebook ads and more.
Delivering a consistent and valid message
across all these tools to the perfect
audience is difficult, if not impossible for
many retailers.
"All marketing tools are integrated in
our platform," he says, "making it much
easier to determine the right customer for
this campaign, this message."
Some retailers send the "We miss
you" email too soon, according to
Pierson; Custora's platform uses
algorithms to detect attrition, such as
which customers are veering off their
purchasing tendencies.
"Our platform uses flag alerts for
these tendencies in individual customer
purchasing, but not too early and not too
late," he says. The platform determines
"Who is at risk right now?"
"Most retailers with forward-thinking
brands are becoming more customercentric," Pierson says. Marketing teams
are becoming empowered with tool
STORES.ORG

sets, allowing them to
develop campaigns for
increasingly specific
customer levels rather
than just focusing
on those who spent
the most or the least.
"They are tailoring
brand experiences
and exploring ideas
for new ways to
reach customers. For
example, what's unique
about the top 5 percent
of customers?"
"Learning alongside earning - the two
can now go hand in hand with constant
iteration learning about customers,"
Pierson says. "Retailers are feeding the
customer-centric cycle as a key to the
growth of their brand."
Custora's client base is retail-specific
and includes apparel, luxury jewelry
and home goods retailers. "We help
shine a light on the biggest areas of
opportunity in a retailer's customer
data," Pierson says.
AREAS OF OPPORTUNITY
Custora collects data regarding offline
orders, online orders, website visits, email
and other touchpoints, and then organizes
all the data around each unique customer.
Customer profiles are augmented with a
suite of predictive models to determine
preferences in products, price points
and discounts as well as lifecycle stage,
propensity to return items and more.
Diagnostics run to determine areas of
opportunity for segmentation to impact
the top and bottom line.
The platform is integrated with tools
across marketing such as automatic email
to seamlessly deploy customer segments
into any marketing execution systems.
Measurement tools quickly determine the
success of targeted marketing campaigns.
"Data is leveraged for a better customer
experience," Pierson says.
Implementation of customer
segmentation can be creative and add to
the bottom line. Marketers know that
the top 20 percent of customers often
drive the bulk revenue of the brand.
Custora uses predictive lifetime value

Since using the new
platform for customer
segmentation,
Dermstore has realized
an overall revenue lift of
about 2 percent on its
entire business.
models to identify customers most likely
to be in the top segment before they
actually spend to this top level. For
markdown items, the platform can find
customers who like the item in general
and love to shop clearance sales.
Many chief marketing officers are
now being given revenue growth
responsibilities, Pierson says. "They know
there's potential in data. Custora helps
them maximize the data in a self-serve
way and create demand."
Beaupain says the next frontier for
Dermstore is integrating customer
insights into "massive personalization"
moving to day-to-day rather than just
at key moments. Her marketing team is
partnering with Custora on the integration
of individual user-level predictions into the
content of daily emails.
"Creativity does not work linearly,"
she says. "Marketers can now become
data scientists as well as idea artists.
This platform helps blend both
areas."
Virginia-based D. Gail Fleenor has written
hundreds of articles about retail, technology and
consumer research following nearly two decades
as a supermarket research manager.
STORES September 2017 49


http://www.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - September 2017

Editor’s Page
President’s Page
Retail Politics
NRF News
Trends
Retail People
The Favorite 50
RFID Is Ready to Revolutionize the Retail Industry
Playing Their Tune
C2W
Store Operations
Marketing
Payments
How Stonewall Kitchen Boosted Sales and Reengaged Customers
Finance
Store Operations
Inventory Management
Online
How Giant Eagle’s Technology Experiments Reduce Losses From Out-of-Stocks.
Startup Spotlight
Analytics
ORC
Fraud
Stores at 100
POV
Communities
End Cap
STORES Magazine - September 2017 - Intro
STORES Magazine - September 2017 - cover1
STORES Magazine - September 2017 - cover2
STORES Magazine - September 2017 - 3
STORES Magazine - September 2017 - 4
STORES Magazine - September 2017 - 5
STORES Magazine - September 2017 - Editor’s Page
STORES Magazine - September 2017 - 7
STORES Magazine - September 2017 - President’s Page
STORES Magazine - September 2017 - 9
STORES Magazine - September 2017 - Retail Politics
STORES Magazine - September 2017 - NRF News
STORES Magazine - September 2017 - Trends
STORES Magazine - September 2017 - 13
STORES Magazine - September 2017 - 14
STORES Magazine - September 2017 - 15
STORES Magazine - September 2017 - 16
STORES Magazine - September 2017 - Retail People
STORES Magazine - September 2017 - 18
STORES Magazine - September 2017 - The Favorite 50
STORES Magazine - September 2017 - 20
STORES Magazine - September 2017 - 21
STORES Magazine - September 2017 - 22
STORES Magazine - September 2017 - 23
STORES Magazine - September 2017 - 24
STORES Magazine - September 2017 - RFID Is Ready to Revolutionize the Retail Industry
STORES Magazine - September 2017 - 26
STORES Magazine - September 2017 - 27
STORES Magazine - September 2017 - Playing Their Tune
STORES Magazine - September 2017 - 29
STORES Magazine - September 2017 - 30
STORES Magazine - September 2017 - C2W
STORES Magazine - September 2017 - Store Operations
STORES Magazine - September 2017 - 33
STORES Magazine - September 2017 - 34
STORES Magazine - September 2017 - 35
STORES Magazine - September 2017 - Marketing
STORES Magazine - September 2017 - 37
STORES Magazine - September 2017 - Payments
STORES Magazine - September 2017 - 39
STORES Magazine - September 2017 - How Stonewall Kitchen Boosted Sales and Reengaged Customers
STORES Magazine - September 2017 - 41
STORES Magazine - September 2017 - Finance
STORES Magazine - September 2017 - 43
STORES Magazine - September 2017 - Store Operations
STORES Magazine - September 2017 - 45
STORES Magazine - September 2017 - Inventory Management
STORES Magazine - September 2017 - 47
STORES Magazine - September 2017 - Online
STORES Magazine - September 2017 - 49
STORES Magazine - September 2017 - How Giant Eagle’s Technology Experiments Reduce Losses From Out-of-Stocks.
STORES Magazine - September 2017 - 51
STORES Magazine - September 2017 - Startup Spotlight
STORES Magazine - September 2017 - 53
STORES Magazine - September 2017 - Analytics
STORES Magazine - September 2017 - 55
STORES Magazine - September 2017 - 56
STORES Magazine - September 2017 - ORC
STORES Magazine - September 2017 - 58
STORES Magazine - September 2017 - 59
STORES Magazine - September 2017 - Fraud
STORES Magazine - September 2017 - 61
STORES Magazine - September 2017 - Stores at 100
STORES Magazine - September 2017 - 63
STORES Magazine - September 2017 - POV
STORES Magazine - September 2017 - Communities
STORES Magazine - September 2017 - End Cap
STORES Magazine - September 2017 - cover3
STORES Magazine - September 2017 - cover4
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