Closing the gap on digital identity management and great customer experiences

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Brands must deliver enhanced experiences across all digital channels.

COVID-19 increased the need for brands to improve digital experiences as customers were forced en masse to digital channels. A McKinsey report found that digital adoption increased 28% to 46% across many industries.

These increases are expected to be permanent, causing organizations to re-think how they deliver hyper-personalized experiences across digital channels.

Digital channel optimization leads to better customer experiences

Digital identity management is the key to personalized CX in a cookie-less future.

Third-party cookies that identify website visitors are increasingly being blocked. By 2023, 90% of web visitors will no longer be able to be profiled, according to AccuraCast. This challenges marketers to change how they track visitors, personalize customer experiences (CX), and optimize digital advertising.

Failure to meet this challenge jeopardizes revenue generated through personalization and digital identity management. An inability to use cookies will impact companies’ ability to optimize advertising and manage customer journeys across channels and over time. All of this could add up to tens of millions of dollars in lost revenue for companies.

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Case study: top 5 global financial services firm sees $50M revenue boost.

The financial services company was having difficulties getting the detail needed from its digital data to connect with certain customers. This barrier limited analytic insights, leading to challenges with digital identity management; abandoned applications and lost revenue.

Teradata and Celebrus identified customers across channels and captured the context of digital interactions to improve customer journeys. This led to a $50 million boost in revenue, 5X increase in application completion, and a 50% increase in click-through rates.

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