Who are your customers? No, your real customers – the loyal ones, the bargain shoppers, and the casual purchasers… and what is unique about them?
Answering that question with a data-driven response is critical to defining a successful customer retention and growth strategy.
As a retailer, you know that your customers aren’t cookie-cutter; they differ in terms of value to your brand, lifestyle, motivations, and other factors. They are also unique in the channels through which they prefer to make purchases. Tailored and scalable customer segmentation enables you to truly understand and effectively engage your customers.
We’re not talking about building hypothetical customer schemas or pinning personas to a wall. At CESM we develop data-driven strategies using D4i Strategy fueled by 3DV Analytics. We do this by combining historical purchasing and marketing data with third-party data to create a segmentation driven engagement strategy that is strategic as well as actionable.
With increasing production and labor costs, fickle markets, and changing customer demands, retailers like yourself can’t rely on intuition alone to drive growth and adapt to change. You need data-driven strategy… we provide that through D4i Strategy.
The role of 3DV Analytics
By looking across datasets, you can optimize product mix and inventory by season, market, or segment in a few clicks. Focus on a time period or market, compare individual stores or locations, or get the big-picture view across all initiatives to create sustainable, profitable strategies. By leveraging 3DV Analytics, you gain access to a unified view of several data streams to segment customers based on KPIs such as:
Access to external data sources enables you to create a three-dimensional view of your customer, factoring in historical, demographic, and psychographic data points. CESM partners with multiple data resources and applies a consultative approach to provide you the highest-quality financial, demographic, and psychographic data available to support segmentation.
CESM enables you to define the ROI of specific media and channel strategy by audience and measure impact against those segments. Building on this audience model, CESM enables retailers to optimize their marketing investment by applying advanced segmentation and tracking capabilities.
We also deliver insight that allows you to gauge the impact of current campaigns. In today’s economy consumer demand is affected by promotions like never before, which in turn affects supply chain and inventory needs.
Today there is no reason why every marketing channel in a campaign cannot be tracked. Unique phone numbers, landing pages, and website tracking tags can deliver 1-to-1 verification of response. We can also employ rules-based or more advanced-modeled measurement processes for attributing credit to the various touch points in the customer path. These enable you to: