Feeling the standard of materials , navigating through new collections, comparing pricing at-a-glance and speaking with representatives that are most attuned to the brand are all advantages brick-and-mortar retailers have with their customers. The connection between the customer and the retailer is more vital than ever as consumers look to allocate their money on brands adjust with their values and interests. However, as we see more customers develop the on-demand mindset and leverage both physical and virtual shopping carts, we’re seeing a replacement opportunity develop for retailers and makes alike: adapting your offering through a 360-degree view of the consumer.
Who are these customers? What are their preferences and buying triggers? How, why and where do they shop? Achieving this close understanding and insight into your consumers’ mindset is what the 360-degree view of the customer revolves around. It’s no surprise that retailers are striving to realize this level of reference to their customers - for instance, check out the Instagram conversations that Nike has with its customers. However, the amount of retailer communications to consumers are uninspired email marketing campaigns, leading to customers' feeling that 95 percent of the emails they receive aren't in the least relevant to them. The true and tried path of consumer communication is clearly not effective.
“Today, our problem isn’t the shortage of data, it’s a disconnection within organizations on what data can provide the foremost impressive consumer insights, and the way to best analyze it”
Today, 82 percent of buyers feel misunderstood by retailers, but it doesn’t need to be in this aspect . A buyer’s digital footprint together with advised feedback on products is making a wealth of data retailers can leverage to spot what their target consumers actually need – from products to pricing.
Revealing Consumer Personas
With every click of the mouse and each transaction at the register, retailers gain more information about their customers than they've ever had before. Additionally, even with the info in hand, many retailers and makes are struggling to know the way to best use those insights to drive revenue and new business opportunities.
One effective thanks to put this information to use is to make consumer personas. By leveraging buyers behavioral data and insights from CRM and social media platforms, retailers can identify and thoroughly profile customer segments, or consumer personas. These personas enable you to supply your sales and marketing teams with a strong picture of their audience and its needs, to make sure the corporation is offering the proper products to the proper people.
Additionally, joining these details with anticipated analytics will help retailers discover patterns, revealing insights that help them address consumer needs quickly and predict better future preferences. In turn, marketers can use these details to tailor customized messages that are more likely to reverberate with those buyers.
These are the essential categories you’ll got to create buyer personas:
• Demographics: What are the standard age and gender for every one of your consumer personas? Are they married with kids or single with pets? What are their typical income and education levels? What are their interests? Where do they live?
• Purchase History: what's the standard consumer journey for this persona? What content did they consume on your website? What products did this group purchase at a better rate than other personas? How often did they purchase after receiving a marketing message? Do they typically shop with a reduction code? How frequently do they create a purchase? What's the channel through which they create most of their purchases? How often do they return items?
• Information Sources: Where do they appear for information when considering a purchase? What magazines and websites do they frequently read? Who are key social media influencers whose opinions they trust? What needs are they trying to satisfy by purchasing your product? What are common barriers to purchase?
It’s important to understand the 360-degree view of the customer doesn't just benefit the retailer but that it benefits customers, too. Retailers must plan to build relationships with their customers within the same way they strive to deliver great products. Consumers don’t just want retailers to know them, they expect it. In fact, Microsoft research found that buyers are even willing to share more data with marketers if it leads to a customized “know-me” shopping experience. They need a particular loyalty to the retailers they’re supporting and need to make sure these brands’ standards align with their own preferences and even values.
Whether its data from an in-store transaction or from a stagnant virtual handcart, we’re during a new exciting era of data. Leveraging this data is simpler said than done, but creating consumer personas will move you closer to both your customer and your revenue goals.