Three Ways Customer-Centric Companies Beat The Competition
By David Trites
In business they say, "The customer is King." But do customers today really want to be Kings?
They certainly don't act like it. From do-it-yourself banking to self-check-in at the airport and self-check-out at the grocery store, customers have taken on more of the work to get faster - and often better - service in return.
Online consumers aren't sitting on thrones wearing crowns either. Every day they give up their personal information, provide useful feedback and ideas on products and services, and promote their favorite brands for free. In return, they want accurate real-time information, immediate responses, and quick and easy transactions on any device. But those aren't king-size expectations; that's just business today.
The relationship between business and customer has evolved. To be competitive now and win the consumer of tomorrow, companies need to adapt and connect with their customers in new ways...
In the era of Big Data, the notion of executing programs in a scan-based targeting and analytics frame has become available to the sampling market. What that means is that by using behavioral data (purchases a consumer makes in a particular set of stores), we can understand how those purchases are tied to the individual. Then we can aggregate that information and look at how the sampling tactic impacted in the marketplace.
The way we marketers do this is by executing a sampling program in the real world...
Today's retailers are challenged with remaining price competitive while attempting to build loyalty. These two things can be difficult in an era of showrooming and other deal-seeking behavior. Traditional sales and everyday-low-price strategies have eroded margins and created consumer fickleness. Re-enter rebates. They are a smarter promotional strategy for retailers looking for new avenues for customer acquisition and loyalty.
In 2013, a number of well-known retailers started using rebates. In fact, more than 2,500 retail locations on our client roster alone now offer rebates on products as diverse as electric toothbrushes, house paint, luggage, computers and large appliances...
New Directions in Shopper Technology, the second book from the Shopper Technology Institute. Building upon the foundations of last year's Essentials of Shopper Technology, the book is divided into five sections: Shoppers, Loyalty, Engagement, Analytics and Digital and contains 19 essays on how mobile marketing, social media, sophisticated analytics, Big Data and the like are continuing to evolve.
Those changes-and others-are presented in this book. As well as reading about their area of expertise, progressive executives will gain a fuller understanding of the entire industry.
Click here to read sample chapters and view ordering information for the paperback and Kindle editions.
