Using Data to Resonate with Valuable Back-to-School Customers
Loyalty programs, coupons, bonuses, discounts, special offers – which marketing tactics aren’t retailers using to reach this back-to-school market? And for good cause as the NRF recently revealed in its 2013 back-to-school survey that consumers are paring down school purchases, re-using what they already have, and searching everywhere for the best deals.
There’s no doubt these incentives can be effective in reaching a mass audience as consumers are vigilantly seeking them out. But with everyone else offering similar deals, how are retailers ultimately differentiating themselves from the rest? Unless merchandise is being given away freely, they’ll ultimately find themselves in an ongoing tug-of-war with competitors for the same consumers and the same, limited dollars this season.
With all of these special incentives vying for consumers’ attention, it’s critical that retailers change their marketing strategy in how they are implemented.
How to begin? According to Bryan Pearson’s The Loyalty Leap, start with the data. Retailers must collect and use the best data at their disposal to gather insights into specific consumer behavior. Only then can they create a relevant, customized experience to reach their most profitable and highest potential customers. It’s not about hitting as many as possible with a wide sweeping message via multiple channels – that’s already being done and those messages are getting lost in the noise. It’s about using analytics to target your best customers, tailoring your message and interactions to perfectly suit their wants, and providing the kind of service that best meets their needs.
Remember, it’s not just offering sales and special offers to customers; it’s offering the right sales and special offers to engage your most valuable customers. It’s not optimizing all of the available communications channels to reach everyone; it’s making sure the right channels are being optimized to target your specific audience. As Pearson views it, using the right data to create these customized experiences will not only set you apart from the rest, but keep your best customers loyal. And, if there’s one thing about loyal customers, it’s that they’re great at spreading the word.
ShopperTrak’s in-store analytics provides relevant, useful data to help in the development of a custom-made marketing mix to accurately target your most valuable customers. ShopperTrak’s people counting technology enhances your insights into consumer behavior so that you can effectively improve your campaigns. Getting an accurate grasp of your data now has great implications for retaining current customers and gaining future ones.