Targeted and personalized offers have much higher levels of engagement versus anonymous ‘spray-and-pray’ incentives. Targeted and personalized offers are closely related but they are not necessarily the same. If a digital promotion targets consumers only with specific demographic characteristics, it is considered a targeted offer. If incremental purchase data, from customers within the same demographic profile, is incorporated into the coupon selection process; it provides the opportunity to deliver a personalized offer.
While traditional back-to-school retail campaigns target moms and dads, it’s time to incorporate a top trend: Millennial spending. According to the NRF, teenagers spend millions of dollars of their own money on back-to-school items, and 1 in 10 parents say back to school purchases are influenced by their teens. If your back-to-school marketing campaigns are geared more toward the younger members of the household, chances are you’ll get a bigger chunk of their business.
If one thing was apparent at Forrester’s recent Forum for Marketing Leaders, it’s this: the customer rules. Research Director David Cooperstein kicked off his presentation with a Bob Dylan quote that captured the sentiment of the event. “The times … they are a-changin'.” I would argue they’ve already changed, and the change is accelerating.
What types of coupons do your customers use? How many coupons in an average week? When are they searching for offers, on their mobile devices while shopping, or beforehand on their home computers? These are some examples of the valuable coupon data CPGs and retailers can collect through RevTrax’s latest product, Survey Insights.
What really drives customer loyalty in today’s retail ecosystems? Is it the ability to provide a customer-centric experience? The practice of seamlessly integrating a loyalty program across channels and points of sale? Or could it simply be the delivery of quality service?
Brands and retailers are always working to improve the customer experience. From reaching a customer with the right offer in the right place at the right time, to ensuring consumers are served with relevant content, customer service is a constantly evolving challenge for brands.