Anticipating what shoppers will want to buy next is key to a successful IoT strategy. However, few brands in L2’s Digital IQ Index: Consumer Electronics have invested in creating the detailed customer profiles that could make this a reality.
While 71% of Index brands collect information from customers, three-fifths of them bury questions within the product registration process, making it more difficult to access. Moreover, barely one in three inquiries relates to purchase intent. Multi-Category brands perform best in obtaining information, collecting an average of 17 data points around shopper interests and purchasing behavior.
And while nearly all brands let customers sign up for accounts, most fail to capture real-time browsing behavior that would help them collect data about their customers’ identities and intentions. Only 19% have implemented a loyalty program and 17% offer a wish list.
One brand that collects information and uses it effectively is Apple. The tech giant has amassed more than 800 million credit cards and personal information on users, besting even Amazon. That immense data system helps Apple not only facilitate in-store pickup at brick-and-mortar locations, but also gain greater insight into its famously loyal customers.