Whether you're one of the fortunate retailers who saw holiday-season sales and profits beat expectations, or one of those who didn't, you can resolve to make your revenue work harder in 2012.
Start here and now: Follow our top tips for putting your money where it will go a long way toward improving your sales.
Use the information you've collected. Through all the frenzy of holiday shopping transactions, your loyalty program raked in thousands of gigabytes of customer information. Now don’t let it go to waste. Overlay it with even higher levels of data — like the in-depth information we collect at the household level — and you’ll have actionable analytics to create predictive models. You can use those models to confidently answer a wide variety of questions, including how far customers are willing to travel to your stores or restaurants, whether existing locations or possible new sites. The days of guessing are completely gone and completely unaffordable.
Deeply engage customers. Know from the beginning that they’re going to feel good about their experiences with you. We follow more than 75,000 consumer characteristics, including brand loyalties, lifestyle choices, hobbies, purchasing behavior and media preferences. That lets you see customer profiles with amazing detail and accuracy. With that kind of information, you can zero in on the right product offerings and the right customer service, giving consumers strong emotional reasons to return.
Create marketing that motivates. That deep, deep knowledge of your customers also helps you get past the walls every savvy consumer puts up and speak to them in the ways they prefer. Check out geomapping tools that define neighborhoods and marketing areas by household — as many as 8 people each! — and new consumer discovery technology will uncover buying patterns that can help you target marketing messages like never before.
Even though it's the end of January, it's the beginning of the next retail year. Definitely the right time to make market planning and marketing resolutions you can stick to.