First-of-its-kind tool combines granular data to reveal the true impact of inflation and create better customer experiences
Merkle, dentsu’s leading technology-enabled, data-driven customer experience management (CXM) company, announced the launch of its Inflation Resilience Dashboard. With inflation at its highest level in decades, the interactive dashboard provides business leaders and marketers with critical consumer insights to help influence key marketing and business decisions.
The first-to-market dashboard visualizes inflation resilience in the US by geographic location, down to the county level, and by generation, as part of an initiative to supply brands with advanced information on how their customers are being impacted during this volatile time. The Inflationary Resilience Measure, the dashboard algorithm, will be continuously reviewed to maximize accuracy and regularly updated to include the most relevant data points, such as rental rates and percentage of discretionary spend. This level of consumer understanding is critical for business decisions and can provide actionable insight, including the following examples:
- Retail: What strategic changes can be made to the inventory assortments to reflect potential price pressures?
- Nonprofit: Influence fundraising campaign messaging based on inflation resilience
- Media: How should companies tailor retention and acquisition efforts based on the resiliency of the markets where their consumers and prospects reside?
- High-Tech: Which communities are most likely to spend on high-tech products soonest?
- Financial Services: Which areas are likely to show a faster economic rebound from inflation rates?
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“Data should be the foundation of marketing and business decisions to ensure you’re creating the best experience possible for your consumer,” said Shirli Zelcer, head of analytics and data at Merkle. “With prices rising for everything from energy to food, the impact consumers are feeling hasn’t previously fully been understood, nor has it allowed for an appropriate shift in business and marketing strategies to accommodate. Data and analytics have always been cornerstones for our work, and this dashboard will fuel actionable insight and lead to more informative conversations to better understand the true impact of inflation.”
Businesses and consumers have continued to change rapidly over the past three years, and analytics is the key to truly understanding how to pivot as a brand. Both business leaders and digital marketers need to be equipped with insight to influence overall business decisions and future solutions, along with the ability to create better customer experiences. Merkle is the first to provide this comprehensive data visualization around inflation and is leading the conversation with in-depth, actionable insights. This dashboard puts business-essential data in the hands of leaders that can deliver a valuable customer experience and stay one step ahead when addressing these challenges.