The biggest challenge of business is to get customers to interact with your company. One of the ways to do this is by providing them with useful services, e.g., loyalty cards. But another way is to provide your customers with useful information, like offers or new products that will be launched from a brand they make purchases from often. This information is important because it helps you and your customers to improve your relationship.
Customer Data is the key…
You cannot look at all of your customers in the same way. They’re all different and need to be looked at in a different way. Why… because we all have different needs and expectations. You want to target them with different offers, and can market to them in specific ways to get more desirable results.
How to use data to your advantage…
Without knowing who your customers are, it's very difficult to grow your business. The success of your business comes down to knowing who your customers are and how they spend with you. Loyalty programs collect data on what your customers are spending on. Use this data to target your customers with offers which they need. If you send offers which they don’t need, they might go elsewhere.
Customer relationship management…
You should be contacting your customers using a variety of methods. You can contact them via email, sms, social media or traditional mail. This can be in bulk or individual whilst still providing a personal approach. If you want to personalize your bulk messages there are plenty of options to merge tag the recipient's name.
This is to tailor your content to each target audience. Sending customers offers on dishwashing tablets, when they do not own a dishwasher would be wasteful. Instead, group customers who don’t have dishwashers, then sending them promotional offers on dishwashers would result in getting sales. With the customer data you collect you can look at how much they spend, how often they visit, what departments do they shop in?
What about customers that you have lost…
For any customers that you have lost, you should be trying to bring them back. You can personalise offers to entice them to come back. Discount vouchers are a great incentive. Their circumstances might have changed and they are in the wrong group. A discount offer that could have a limited time only or one use only. You can see if they will return and see what they are buying to know if they are in the right group. By having an expiry date on offers and vouchers there is a sense of urgency and it’s important to use it.
For more insight into knowing your customer keep an eye on our social media and stay tuned for the next post.
If you would like more information on how an EPOS system could transform your business or have any questions? Simply get in touch with Premier EPOS and we will be happy to talk to you about the great benefits.
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