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Deliver winning CX every time
Malicious Bot Attacks Continue To Cost Retailers Big Bucks
September 1, 2021
Automated bots operated by malicious actors are costing businesses an average of 3.6 percent of their annual revenue. For the 25 percent worst affected businesses, this equates to at least $250 million every year. Even more concerning is the time it takes to discover these attacks. On average, more than 14 weeks pass before a successful attack is detected.
The Endless Possibilities of Robotic Process Automation
August 20, 2021
With more amounts of data to manage, organize, and make sense of, robotic processes are becoming increasingly valuable to businesses seeking to save time and be more efficient. Not everything needs to be done by a human, especially when the tasks are repeated and predictable. It's here that RPA comes into play and has become an important component to businesses operations and serving customers.
Customer Data Platform: Build It or Buy It?
July 8, 2021
The build-versus-buy decision is an important one. Companies have been making similar choices about their technology stacks for decades. When it comes to customer data platforms, however, some organizations are rushing to make a determination. There are some important questions to ask before making a build-or-buy choice. Let's take a look at the factors involved.
Reports of TurboTax Breach Greatly Exaggerated
June 16, 2021
Reports of a data breach of TurboTax have been overblown, according to Intuit which owns the tax preparation platform. Several news outlets recently reported that an unspecified number of TurboTax accounts were compromised in a wave of credential stuffing attacks. Those kinds of attacks exploit credentials stolen from other websites and reused at the TurboTax site.
Grinding Data Into Information
June 8, 2021
A lot of time and treasure has already been spent on "going digital" with no clear understanding of what that should mean. But going digital should, at least in part, mean taking full responsibility for turning a business' mountain of customer data into usable information that advances the company mission.
How to Build a CX Business Case for Your CFO
May 25, 2021
Across all businesses, the entire C-suite leadership team is looking to validate an experience management program by asking one question: what is the financial impact of my CX investment? Making a business case to the financial leaders of your company means that you have to be prepared to answer any value-based questions they might throw your way.
Sophisticated CRM Now at the Core of Customer Success
April 1, 2021
With most workers continuing to work remotely, CRM has become an important tool for managing relationship risk. Financial firms have to deal with market and operational risk, consumer retailers have to focus on supply chain risk, and all companies have to keep an eye on economic risk. Relationship risk is no different, and the role of the CRM is right at the center.
The Three C's of Optimizing CRM Data
March 12, 2021
Monitoring and maintaining your data is an ongoing, strategic process. By educating your CRM users -- and making their data entry process as easy as possible -- you can ensure that better-quality data will be entering the system. Here's how you can give your company a true advantage -- and empower everyone who relies on your CRM's data.
Oracle's Reinvention
February 16, 2021
Oracle's continued strides in the tech space say a lot about perseverance and deep pockets. It was a darling of the 20th century tech era, rising from a startup in the database wars and becoming the sole surviving independent database company. But at some point, success leveled out its rise and it became just another big company. Then came the challenge of cloud computing.
Is 2021 the Year Cyberattacks Force Privacy Laws to Grow Some Teeth?
February 4, 2021
Cyberattacks are increasing in frequency, ramping up the data privacy threats they pose to government agencies and businesses alike. Governments both domestic and foreign need to step up efforts to pass legislation that bolsters technological defenses this year, warn privacy groups. Stiffer privacy laws are gradually being reviewed and signed into the U.S. market. But that process is mostly taking place at the state level.
Consumers Expect More From Brands to Earn Loyalty
August 18, 2020
Customer loyalty has increased drastically in the last five years, though it has not reached boom status for many brands. Winning repeat business is increasingly difficult, especially with the economic uncertainty brought on by COVID-19. New studies reveal how solidly personalization in marketing drives brand loyalty, however consumers still feel that brands fail to do enough to recognize them as individuals.
Digital Sales Boom Puts Spotlight on Fraud Control Systems
July 30, 2020
The move by retailers to online and mobile selling to survive the pandemic has resulted in a significant increase in digital fraud activity. The "2020 True Cost of Fraud Study: E-commerce/Retail Edition" by LexisNexis Risk Solutions found this to be partly because some fraud control systems are outdated, and partly because of increased transaction volume.
Digital Fraud Flourishing During Pandemic: Report
July 9, 2020
If you conducted e-commerce transactions since the pandemic struck, you have probably been the target, or even a victim, of online fraud. A report from Sift titled "Q2 2020 Digital Trust & Safety Index" details a 109 percent increase in content abuse and growth of the fraud economy from January through May 2020.
B2C Marketers Grapple With Personalization Tactics
June 29, 2020
Marketers at B2C companies realize that personalization is key to business, but they are having problems implementing personalization strategies, according to a recent survey by Adweek Intelligence in association with IBM Watson Advertising. "Defining personalization has to start, stop and be continuously refined through the sole lens of the customer," Liz Miller, a principal analyst at Constellation Research advised.
Twitter Apologies for Data Security Incident
June 24, 2020
Twitter on Tuesday notified business clients that their personal information, including email addresses, phone numbers, and the last four digits of their credit card numbers may have been compromised. Self-serve advertisers that viewed billing information on ads.twitter.com or analytics.twitter.com were affected. The issue occurred prior to May 20, 2020. However, Twitter only notified customers about it on June 23.
Time to Beef Up Your Algorithms
June 18, 2020
Accuracy means getting the right answer. Precision is about getting the right answer time after time. In a CRM situation an algorithm that gets the right answer is accurate and nice (we got the deal!) but if the business process supported by CRM has a lot of returns or unhappy customers, it's not very precise.
Zoom's Soaring Popularity Is a Double-Edged Sword
April 1, 2020
As the coronavirus pandemic worsened in the U.S., Zoom Video Communications offered free access to its videoconferencing platform and demand skyrocketed. "Zoom has quickly become the de facto for teleconferencing during the COVID-19 pandemic," said James McQuiggan, security awareness advocate at KnowBe4. "A lot of organizations are using it to keep in contact with their employees."
Risk Assessment: Buttress Account Security and Foil Fraudsters
March 30, 2020
Under ordinary circumstances, the average consumer can order a latte on the way to the coffee shop, book a last-minute trip to the coast, and come home to find groceries delivered -- all with the click of a button. What makes these transactions so smooth and effortless? It starts with account creation. Consumers increasingly are willing to create accounts with sites they interact with regularly.
Ask Siri if You Have the Coronavirus
March 24, 2020
Apple users wondering if they've caught COVID-19 now can ask digital assistant Siri for advice. The company has rolled out a self-screening feature that allows users to ask, "Hey Siri, do I have the coronavirus?" Siri then takes them through a questionnaire prepared by the U.S. Centers for Disease Control and U.S. Public Health Service to determine if they're exhibiting symptoms of the disease.
How AI Can Improve Customer Retention
March 21, 2020
Customer attrition and churn are not new problems. Anyone who has spent time in the sales world has heard statistics around the cost of acquiring a new customer. It can be five to 25 times more expensive to acquire a new customer than to retain an existing one. Improving customer retention by just 5 percent can increase profits by 25-95 percent, depending on your industry and company size.
4 Ways Intelligent CRM Can Help You Reach Tech-Savvy Millennials
March 18, 2020
Does your customer relationship management strategy have what it takes to reach Generation Y? It's estimated that by 2021, an additional $394 billion in revenue could be gained from artificial intelligence adoption in CRM activities in the U.S. As companies grow and technology evolves at a faster-than-ever pace, collecting, storing and providing data is becoming a bigger and bigger task.
6 Signs You May Be Ready for a CRM Switch
March 14, 2020
In today's evolving business environment, every operational decision is critical -- and that includes best practices for managing the customer journey. The CRM platform is an integral part of the process. In fact, 91 percent of companies with more than 11 employees use a CRM system. Because of the time it saves and the structure CRM delivers, it can seem daunting for businesses to make a switch.
VPN, Ad Blocker Provider Caught With Hand in the Data Jar
March 11, 2020
A number of VPN and ad-blocking apps owned by Sensor Tower, a popular analytics platform, have been collecting data from millions of people using the programs on their Android and iOS devices, according to a report. The software involved includes Free and Unlimited VPN, Luna VPN, Mobile Data, Adblock Focus for Android devices, and Adblock Focus and Luna VPN for iOS hardware.
E-Commerce Deliveries: How to Master the Last Mile
March 6, 2020
If you're an online retailer, congratulations are in order. Online holiday sales grew 18.8 percent in 2019 compared with 2018, according to Mastercard. Armed with new systems and processes -- as well as lessons from the past -- etailers were able to fulfill more orders than in previous years. E-commerce business leaders are already thinking ahead to the 2020 holiday season.
The Architectural Imperative for AI-Powered E-Commerce
February 25, 2020
We've been promised, repeatedly, that AI would revolutionize e-commerce. Think about it for a moment. Has it lived up to expectations for you? If not, the problem may lie not in the technology you've deployed on your site, but in the architecture and data that support it. The effectiveness of AI-powered features ultimately depends on a high level of discipline about data and architecture.
2020: The Year for Custom CX and Privacy
February 24, 2020
With the introduction of the CCPA this year and GDPR in 2018, the age of data privacy has begun, bringing the opportunity for businesses to harness it to gain competitive advantage. There are both challenges and opportunities for those that aim to deliver superior CX while adhering to data privacy regulations. Data privacy protection concerns are driving new regulations around the world.
Microsoft Injects New AI Features Into Dynamics 365
February 20, 2020
Microsoft has unveiled several new AI capabilities across Dynamics 365 applications and a new solution to help project-centric services organizations transform their operations. The AI enhancements include first- and third-party data connections in Dynamics 365 Customer Insights, Microsoft's customer data platform. The company also unveiled new manual and predictive forecasting capabilities.
COPRA May Be Coming, and It's Not Too Soon to Prepare
January 28, 2020
All eyes are on the West Coast as California reins in the unfettered collection, use and sale of the personal data consumers share as part of the bargain for "free" online services. For years this bargain has been explained in privacy policies that few people read, because there is not a lot of negotiating in the personal data market. The CCPA gives consumers revolutionary rights.
Grabbing the Cybersecurity and Privacy Problems by the Horns: ECT News Roundtable, Episode 3
January 23, 2020
Cybersecurity and privacy threats aren't confined to the tech world. They've cast their pall on the world in general. Computer viruses, malware and data leaks have become commonplace, personal privacy has become a bad joke, and cyberwar looms like a virtual mushroom cloud. What sometimes gets lost in the gloom are the many ways security professionals have been working to shore up cyberdefenses.
Business/Customer Sweet Spots: ECT News Roundtable, Episode 2
January 16, 2020
If you're a small business owner or a key member of an enterprise executive team, you want your firm to succeed. If you're a customer, you want to be treated well. Those goals are not diametrically opposed, but very often it seems that companies and customers are at cross-purposes. ECT News Network recently gathered together five technology experts who did some hard thinking on the subject.
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Should businesses and organizations require staff to provide proof of Covid-19 vaccination before physically coming to work?
Yes -- At this point it makes good sense and will help stop the spread of the virus.
No -- It sets a bad precedent against personal privacy and civil liberties.
I'm Not Sure -- There are valid arguments for and against vaccine requirements.
Deliver winning CX every time