If you want to use data to enhance product offerings, it's essential to know what you're working with.
Consider the following practices:
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Cast a wide net
You can't manage a relationship or enhance the in-store experience if you don't know who your customers are. The first step is to put forth a value proposition that encourages customers to ask to be identified.
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Understand customer value
Start with a simple question: Which customers are the most valuable? Basic knowledge of those who account for most of your sales will always be relevant.
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Blend approaches
Combine transaction and demographic data to better understand specific customer segments, their value and their varying needs for a different in-store experience.
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Target offers
Use shopping-cart analysis to target offers, identify new product opportunities and reward best customers with special rewards. Manage the relationship chain to turn transactional loyalty into brand advocacy.
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Remember that personalization drives relevance
With customer value detectors as sharp as they've ever been and the din of marketing noise increasing every year, your communications to customers should be relevant and offer added value.
Network
