Consumers increasingly expect an omnichannel shopping experience, and retailers are beginning to feel the urgency to respond. According to a recent Shopgate report, more than two-thirds (67 percent) of retailers now say omnichannel retailing will be a priority in 2019. Many of these omnichannel initiatives, however, will fall short of customer expectations due to one key challenge: gaps in customer data. […]
Archives for: Tag: Customer Data
There’s a business-related urban legend that’s stuck with me all these years and it goes something like this. A high-end sports car manufacturer had just released their latest high performance luxury sports car. All the industry research had been done and the manufacturer knew they had all the winning elements. The dealerships were primed with […]
Successful customer acquisition strategies rely on deep customer understanding, including insightful customer segmentations. However, lackluster segmentation can undermine acquisition efforts and lead them astray. In practice, segmentations often draw artful conclusions that lack real-world application, have disparate implementation across organizations or, when acted upon, fail to deliver intended results. In these situations, companies can benefit by taking a different approach to customer segmentation and targeting by using “bright spot” analysis.