“Retailers understand that it costs more to acquire new customers than it does to keep their existing ones happy.” [Epsilon, 2014].
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.
Last week RevTrax invited our key CPG and Retail clients, partners and industry colleagues to participate in a panel discussion to exchange best practices on leveraging customer data analytics and customer intelligence. Our panelists included representatives from Kimberly-Clark Corporation, Pfizer Consumer Healthcare, Bowlmor-AMF and Chobani.
Andy Murray, SVP/Creative at Wal-Mart and P2PI Hall of Fame honoree, said it best in his opening address, “If you don’t like change, you are going to like irrelevance even less.”
Here at RevTrax, we continually think about the omnichannel consumer experience and how to improve it. In order to help us on this path, we recently attended Forrester’s “The New Omnichannel Imperative” event here in New York City lead by Forrester Analyst, Peter Sheldon. Sheldon’s research focused on identifying the causes and solutions for the widening gap between consumer expectations and retail capabilities.
April is upon us which means we’re heading into International Customer Loyalty Month. We here at RevTrax are taking this month to reflect on our own company best practices in customer service and the essentials of providing a seamless customer experience while we continue to seek innovative ways to improve on our customer-centric solutions.
Did you know that brand advocates are more influential than the average consumer? In fact, brand advocates are 50% more likely to influence a purchase. These advocates are your passionate customers who embody your brand and actively spread your brand’s news and message. They are also key drivers in amplifying your digital marketing campaigns through their social networks.
Retail marketing is perhaps one of the most competitive areas of advertising today. It also happens to be one of the most complex challenges for which retail marketers constantly strive to gain actionable insights, control, and consistent year-over-year improvement.
Millennials, an estimated 86 million within the US today, represent the country’s largest demographic, and account for approximately $600 billion in annual spending. Born between the early 1980s and early 2000s, they’re often characterized as narcissistic, lazy, and the ‘me’ generation, but they are also regarded as one of the most charitable, optimistic, and may be the foremost spendthrift generation.
In 2013, mobile devices solidified their position as a key driver of consumer engagement and will continue to be a mainstay in marketing strategies for years to come. Now, with marketers increasingly invested in mobile, we wanted to take a look at how mobile promotional engagement differs among digital marketing channels for our retail and consumer packaged goods clients