How well do you know your customers? While most brands would say they know their ideal shopper, how many can break down their customer engagement into finely tuned segments based on analytics? Some can, but too many are still behind the curve when it comes to having the loyalty platform to gather data, visualize and discover patterns of people and behaviors, and respond with the right engagement at the right time. Having a high level of customer intimacy enables right-time marketing and it’s within reach of most businesses. We’ve entered a data-rich age where there are fewer and fewer excuses for not knowing your customer crowd.
For starters, every customer has unique attributes that we refer to as their characteristics. That set of information includes permanent things like gender and age, but also includes things like past history of interaction and purchases that paint a clearer picture than simple demographics. While age, gender, affluence, and other factors give us broad stroke indicators of buying propensity, finely tuned segmentation requires a richer set of information than traditional groupings. The second aspect of knowing your crowd is tightly coupled to how your customers communicate with you, which we refer to as channel. These are the pathways of interaction preferred by your audience, and getting the channel right is the difference between having a seamless conversation and being intrusive. Brands that can’t listen and respond across the many, sometimes simultaneous, channels of today’s marketing can’t say they truly know their customer. The third aspect of knowing your customer is having a context for each moment of interaction. Knowing whether a customer is currently in the act of shopping, at the time of purchase, or just in the information-gathering phase has a strong effect on what interactions are most appropriate and what the timing should be for engagement. Characteristics, channel and context together are what define truly knowing your customer crowd. Without them, your ability to increase intimacy, gain loyalty, and increase total lifetime value are negatively impacted. Watch the webinar on right time marketing and learn how to use characteristics, channel and context to determine the best time to market. This post first appeared on the Loyalty Lab Blog and has been lightly edited.