Actionable Intelligence Makes For a More Successful Holiday Season
The holiday season is here.
Kids are not shy about sharing their holiday gift requests. Many adults are thinking about what they want, too, even if they keep that under wraps.
Meanwhile, businesses are wishing for a lucrative season.
But this season, as a business, you can do much more than just wish for a great holiday. You can position yourself for higher sales, and more revenue, by using data-fueled actionable intelligence. Here’s how.
Provide Personalized Customer Experiences
What would you do if you knew the brands your customers prefer, where they go out to eat, their hobbies and interests, their affluence levels, the neighborhoods they come from, where they go to work, and other such previously unknown insights?
Getting this information is possible today by merging data from your digital properties such as apps and websites, with data from the offline world.
Investing in this intelligence would enable you to make better decisions in merchandising, staffing, partnerships, selecting your marketing outlets, and provide seamless personalized brand experiences to your customers.
Gather Competitor Intelligence to Understand Regions of Opportunity
Getting insights on customers that show up at your competitors’ stores and not yours is the gold mine to reveal areas of improvement and opportunity.
Further, understanding how stores perform in specific regions in terms of foot traffic, revenue and other key metrics would help you inform business strategy. Ranking top regions for you and your competition is key to win on the holiday battlefield. For example, if Macy’s knows that Nordstrom attracted more premium shoppers in the past holiday season, Macy’s can then select the regions it wants to win. With real-world intelligence on location and people’s behavior, it can map historic visitation and revenue in those regions to create a strategy impacting consumer acquisition in these key areas.
That strategy should include investing in a data-driven approach to reach customers with relevant marketing messages at the right time. A data-driven approach would also allow brick-and-mortar stores to measure the impact of marketing efforts, and learn the efforts that worked, and the ones that did not.
Expand Your Marketing Reach
Publishers’ digital properties give them access to a wealth of first-party data. Working with publishers that have adopted a data-driven approach can help you truly provide an omni-channel customer experience.
Publishers with enriched first-party data get a deeper understanding of their inventory, and expanded audience segments. They can help you win new customers with better targeting and measurement insights, and at the same time, monetize their assets better.
Win This Season – And All Year Long – By Making Data Work for You
Actionable intelligence delivered by today’s data-fueled solutions can yield great results for more relevant and targeted marketing, measurement, messaging, monetization and pricing.
During this holiday season, businesses should take a page from the Santa playbook. The man in the big red suit pays attention to our behaviors and wishes. He then makes a list and checks it twice. Brands, marketers and publishers should do the same to ring up more sales during the holiday season, and at any time of year.
Published in MarTech Advisor.