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Tuesday, October 4, 2022
HomeTechnologyThere is more than one way to manage customer data

There is more than one way to manage customer data

Coffee retailer Bean Box has two different customers: gift buyers and loyal subscribers. CEO Matthew Berk knows that 40% of its revenue comes from recurring and predictable subscriber customers.

“That’s a healthy place to be in terms of revenue coming from subscribers. But the challenge with ecommerce is the system of record,” Berk says. “How do we manage the data for our direct-to-consumer customers as well as the ones we sell to through other channels?”

Matthew Berk, CEO, Bean Box

Berk does not want to push that it is solely a subscription company.

“We don’t want to force customers down a particular path,” he says. “We want to be seen as a portfolio of different products and different customers with different lifetime values (LTV).”

For nearly nine years, Bean Box has evolved its business and learned from selling through its own DTC website.

A one-person engineering team could handle the tasks for the first seven years. But as the retailer’s reach and revenue grew — including selling through its Amazon store and, in February 2022, in Walmart stores — data management became more complicated.

It became necessary to outsource certain tasks to prevent its now three-person team of engineers from creating reports manually.

The pandemic accelerated retail’s plunge into ecommerce. Now, retailers realize they need to fine-tune their approach to continue growth after the initial flurry of revenue. Third-party software vendors offer retailers ways to collect and analyze data to track and strategize how customers shop depending on where. The costs vary and depend on the volume of data involved.

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