four retail-proven ways to increase sales and loyalty with data
TRANSCRIPT
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:
1. Poor information management. Retailer lacked integrated system
to perform vital tasks and had no customer loyalty program.
2. No social media strategy. Facebook posts consisted of daily
discount announcements, resulting in low engagement.
3. Outdated e-commerce site.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
Seasonality Curve
Two seasonal peaks appear
on this product’s annual
sales curve.
Data Driven Marketing Options:
Seasonality Curve
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 A4 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.
Retailer A Retailer B
Retailer C
Parents
Visit
In 16-24 months, the
child grows and needs a
bigger bike.
Parents may visit
other stores.
Data Driven Marketing Options:
Customer
NeedPersonalized
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 MizrahiRetail marketing, product, digital
strategy | Helping companies
launch customer focused sales
growth programs.
Insert CTA HeaderThis 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.
Thank You.