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 vary greatly in terms of their relationship to your brand, lifestyle, motivations, and other factors. They are also unique in the channels through which they prefer to communicate and make purchases. CESM is breaking new ground to identify, understand, and motivate your customers but converting data into insights and developing strategies that enable 1-to-1 communication and more.
We’re not talking about building hypothetical customer schemas or pinning personas to a wall. At CESM we develop data-driven strategies fueled by analytics we develop customized to your data, KPIs, and strategic goals. 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… and we develop it, in collaboration with you.
The role of analytics developed by CESM
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 analytics developed by CESM, you gain access to a unified view of several data streams to segment customers based on KPIs such as:
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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 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: