By selecting the right CDP provider, Søstrene Grene has unlocked the full potential of marketing.
Results
197%
increase in Customer Lifetime Value.
11,5%
rise in conversion rate
15%
growth in email click-through rate
Challenge
At Søstrene Grene, the product range is broad – spanning everything from furniture to tea and coffee. But how do you tailor digital channel content effectively to different customer segments? How do you ensure that customers interested in hobby projects are not served content about furniture?
For Søstrene Grene, the answer was clear: a Customer Data Platform (CDP). By consolidating data on customer habits, needs, and interests, the CDP enables the creation of personalized content for well-defined customer segments. This allows Søstrene Grene to deliver even more relevant content to each individual customer – while also opening up new opportunities to strengthen loyalty.
… but how do you choose – and implement – the right CDP? And what does it require from the organization?
Approach
Søstrene Grene contacted Vertica for guidance and advice in selecting the right CDP.
The initial task was to analyze and clarify the company’s needs, identify potential pitfalls, and define use cases.
This preliminary work resulted in five key use cases that the CDP needed to be evaluated against:
The CDP was to be evaluated according to the five use cases based on its ability to:
- Ability to send collected data to analytics tools.
- Ensure insight into the true value of campaigns, enabling smarter use of the marketing budget and minimizing waste. The CDP consolidates data on individual customers, which can be visualised to determine whether purchases were driven by advertising or would have occurred regardless.
- Support GDPR, privacy regulations, and management of customer consent.
- Analyse which channels and content are most relevant for each individual customer.
- Create synergy with customer service so that data, e.g., about complaints, is fed back into the CDP. With this information, it is possible, among other things, to be more restrained with certain types of content that may not be suitable for a customer who has recently submitted a complaint.
The Process
On behalf of Søstrene Grene, Vertica investigated which relevant CDP providers should be invited to pitch. The research resulted in a shortlist of five providers who were then briefed on the assignment.
Ahead of the presentations, Vertica conducted analyses of each provider, including the development of business cases that enabled benchmarking of the different providers against one another.
Results
After implementing the CDP, Søstrene Grene will be able to achieve significantly greater value from their marketing budget. The business case shows that within just one year, a return on investment can be realized, generating a profit. The insights provided by the CDP quickly outweigh the costs of licensing and implementation, with expected savings of 15–20% on the company’s annual ad spend.
The CDP’s capabilities for delivering targeted content across channels benefit both consumers and the business. With the new setup, real-time dynamic segments can be quickly defined, while gaining deeper insights into customers’ past purchases and behaviors. The CDP is a key part of Søstrene Grene’s strategy to foster even more loyal customers through clever, personalised communication across social media, websites, newsletters, and more—ensuring that customers feel recognised and welcomed in the universe of Søstrene.
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