If you like this presentation – show it...
Winning at Retail. By: Avi Mizrahi 4 Retail-Proven Ways To Increase Sales and Loyalty With Data.
With rapidly evolving technology and shifts in demographic preferences, many mid-sized retailers are missing opportunities to engage with their customers. Retail Is A Fast Moving Industry.
Case Study. On a recent visit to a mid-sized Toronto retailer I observed: Poor information management. Retailer lacked integrated system to perform vital tasks and had no customer loyalty program. No social media strategy. Facebook posts consisted of daily discount announcements, resulting in low engagement. Outdated e-commerce site. The site looked like it had not been updated since 2001! + More.
So what’s a mid-sized retailer to DO ?
Build a Foundation. Technology is not the barrier it once was! New POS solutions enable data collection, analytics, customer information management, email marketing, e-commerce site creation and so much more. Shopify POS: http://www.shopify.ca/pos
A Retail Story. Click here to see how Shopify POS enables retailers.
Data must be transformed into customer insights and followed up by action.
BE Curious. To Win You Must
Let’s explore retail-proven ways to use data to design customer driven marketing programs. 4
Understand Your Seasonality Curves. 1 Two seasonal peaks appear on this product’s annual sales curve.
Data Driven Marketing Options: Email high value customers special offers or product selection guides before peak season starts. Second peak: can this seasonal curve be changed with a mid-season promotion?
2 Leverage Complementary Products. 2 Product A Complementary products enhance or are necessary to use Product A.
Marketing Opportunity! Data Driven Marketing Options: Product A 4 Complementary Products In Another Part Of The Store. Analyzing baskets containing product A, revealed that 34% of customers were also purchasing four complementary products.
Know how your customers shop. 3 What are the push and pull behaviors? How do customers research your product? What is their price sensitivity? What is the problem they are trying to solve? Motivations?
Data driven marketing options: Vs. Gift Card Dollar Off Knowing customer preferences will shape how you communicate with them.
4. Get Personal With Your Customers. 4 Parents Buy Retailer A Visit Kids Bike
Anticipate Your Customer’s Need. Parents Visit In 16-24 months, the child grows and needs a bigger bike. Parents may visit other stores.
Data Driven Marketing Options: Customer Need Personalized Marketing Offer. Retailer A Customer If Retailer A anticipates the customer need and sends personalized marketing offers, they are better positioned to build the relationship and earn the sale.
These are just of a few ways data can be used to create customer driven marketing programs to increase sales and loyalty.
BE Curious. Remember, it’s how you use the data that counts!
“As marketers, it’s our job to be curious about our customers.” Avi Mizrahi Retail marketing, product, digital strategy | Helping companies launch customer focused sales growth programs.
Insert CTA Header This SlideShare is based on a LinkedIn Post I wrote. It includes many more examples. To read it, click here. If you like the article, please give it a thumbs up and feel free to connect with me.
: @AviMizrahi_TO Follow me on Twitter!