Know your customer by Ian Matthews, Data Evangelist at NGDATA

“This Christmas we’re all looking for the perfect gift. If retailers want to capture customer’s attention they need to follow one simple rule: know your customer. The countdown for most has already begun, and only a few weeks remain. From the year’s must-have toys to something unique for your weird cousin Keith, every customer journey this Christmas needs to be unique to stand a chance of conversion.

In a rush to get shoppers through the door (or clicks through to their sites) retailers risk ignoring their most valuable assets – their loyal customers. By understanding what their customers want, it becomes easier to provide them with personalised offers while still being able to retail at full price. Nowadays, companies have more customer data than ever at their disposal – but often they’re not leveraging this to its full potential. The key rests in creating a single view of each customer and treating them as individuals; that is the way to build growing relationships.

Often with increased brand loyalty comes decreased price sensitivity. Ultimately, while no one is going to say ‘no’ to a good deal, price is no longer the definitive factor capable of solely influencing the consumer buying decision. Instead, it is now largely coming down to the customer journey and engaging them in the way they want regardless of if it’s digital or in-store. Quite frankly, all they are really likely to be craving is an optimised customer experience that surpasses their previous experiences and heightens their current expectations of the brand.

If retailers want to attract new customers this Christmas, and make them stay, they need to ensure that the customer experience isn’t compromised by the rush and panic of last-minute party invitations and unexpected guests. The way to do this is, of course, knowing your customer.”

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