Who Are Your Most Valuable Customers?
Brands that cannot identify shoppers who purchase often, as well as share their positive experiences on the ‘Net are not alone.
A new study from Yes Lifecycle Marketing found that 52 percent of retailers still struggle to identify and engage with their most value customers despite knowing value data, like customers’ full names, phone numbers and purchase histories.
By using this information to personalize customers’ experiences, brands (both online and off) can differentiate themselves among the competition and increase a shopper’s lifetime value.
Yes Lifecycle Marketing recommends using clienteling, which leverages omnichannel data to personalize customer experiences in order to drive more traffic (again, online and off), engagement, sales and loyalty.
Increasingly, social media is part of that omnichannel landscape, but Yes Lifecycle Marketing’s study found that only 43 percent of retailers use the channel for customer service. The failure to not only respond to customers on networks where they spend much of their day (e.g. Facebook), but also use that data in meaningful ways is to the detriment of today’s retailers.
To propel their “clienteling,” Yes Lifecycle Marketing recommends retailers employ integrated marketing technologies in order to derive actionable insights from all their customer data points.