Spring Marketplace: Leveraging Real-Time Purchase Data to Provide Robust CRM and Marketing Across Online and In-Store Retail

#

Key Points

Spring Marketplace (Spring) has created a platform that helps retailers extend their existing customer relationship management (CRM) and marketing efforts beyond traditional methods. Through partnerships with Visa, Mastercard and American Express, Spring connects consumers’ payment cards to customized retail loyalty programs, enabling retailers to track how their digital marketing affects in-store transactions and tailor their future efforts accordingly.

  • Omnichannel marketing is a priority for retailers, but most CRM solutions do not enable the tracking of real-time purchase data in physical stores, where roughly 80% of sales still occur.
  • Historically, the trouble has been connecting data from different channels, devices and departments. When customer data are fragmented, so, too, are customer profiles and marketing activities.
  • Spring’s solution enables client companies’ online and store operations to work together to increase overall customer engagement and drive revenue. Every store transaction and website visit is an opportunity to use smart messages and incentives to increase patronage across channels, according to the company.
  • Spring provides two core feature sets: Customer Insights and Customer Engagement. The first provides clients a complete view of customers’ spending behavior in-store and online. The second turns these analytics into targeted marketing strategies in the form of real-time messaging and incentives.
  • For one specialty retailer, Spring executed a campaign across 22 stores over several months. The campaign generated an ROI of 6.5 times and average order net lift of 15.7% as well as a 52% increase in the number of new customers visiting the 22 stores.

Spring Marketplace (Spring) has created a platform that helps retailers extend their existing customer relationship management (CRM) and marketing efforts beyond traditional methods. Through partnerships with Visa, Mastercard and American Express, Spring connects consumers’ payment cards to customized retail loyalty programs, enabling retailers to track how their digital marketing affects in-store transactions and tailor their future efforts accordingly.

To gain full access, and learn more about Coresight Membership Tiers, please click here.

Become a Member

  • Register to access more sections of the website.​
  • Already a member?
    Log-In
 

Verification