Corey Talking to a Camera About The Intersection Of Technology And Human Expertise
Featuring Corey Pierson, CEO and Cofounder of Custora
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One of the things that we learned, I'll say the hard way, from almost a decade now working exclusively with retailers is that we as technology vendors like to put up the front that you plug our technology in and it's like magic. Automagically, you're just going to start raining money. Customers are going to repeat, lifetime value is going to grow, et cetera, et cetera.
The reality is, growing lifetime value is hard — own it. We learned it the hard way. Technology can help. It's a big piece of it. What we realized is that the problems that retailers have isn't only in measuring lifetime value and having access to deploying lifetime value and other customer insights in their marketing campaigns —
It’s that they don't really know what to do with the data. We didn't either when we started this company. Over a decade of time working with brands who chiseled away, what we realized is that there is a methodology. A way to size opportunities, a way to figure out which segments are the ones, which areas of the customer lifecycle matter.
It is not a technology-alone value proposition.
It's when you combine the methodology to actually get your organization leveraging the data, launching the programs, iterating on the programs to grow LTV. When you're focusing on the right challenges, when you're pulling on the right levers, that's half the battle.
It's this mix of technology and expertise and the knowledge of knowing, having a process that's been codified through working with brands that are some of the largest, most well-known brands in retail, have been around since before we were even born, to some of the up and coming upstarts that are digitally native superstars that are giving those other guys nightmares at night.
Working together and figuring out what it takes for an organization to embrace adapt and optimize around this customer metrics, is a very very unique thing to the Custora offering and something that we're really really proud of.