Bluecore’s Post

🚨🔬New Bluecore data finds that retailers with the highest shopper identification rates see 53% more repeat purchases vs. brands with lower identification rates. 🔬🚨 For most retailers, this year’s profits will come from the customers they already know. So this new data is a significant indicator for how marketers can simultaneously build short-term revenue lift and long-term profitability. This is one of many new findings from the industry’s first-of-its-kind Customer Growth Benchmarks report. Instead of capturing the data that is easy to collect (i.e. channel metrics such as open rates, click rates), Bluecore’s annual benchmarks report focuses on the *critical benchmarks that are most aligned with business health.* 🤯 Our report dives into key customer-centric metrics for retailers across the lifecycle, and across retail categories. Each category is benchmarked separately so that retail leaders are able to compare their own performance with a relevant peer set. While every brand has unique trends, Bluecore finds that retailers focused on the metrics and best practices that drive customer movement have higher performance across the customer lifecycle. Check out the full report to see how your brand stacks up against your peers for: 🔹Shopper identification rates  🔹Retention rates  🔹Repeat purchases  🔹Reactivation  🔹and more Read more: https://lnkd.in/eecebNgw

Hard truth: Most brands do not know their customers. This simple fact makes running the company an uphill challenge. 🔹 Growth and EBITDA become unpredictable.  🔹 Inventory buying becomes driven by opinions, not market demands.  🔹 The C-suite struggles to share compelling data with the board and investors. To unlock a customer-first approach, retail executives must embrace customer movement — a framework to better understand the health of your customer file and opportunities for growth. Say goodbye to unknown customers. And hello to stronger retention, acquisition, and merchandising strategies. Our latest guide shows you how: https://lnkd.in/gtswiCcV

Congrats to our friends at Carhartt, winners of the "Best Use of Data or Technology in Marketing" Award from CommerceNext! During the Commerce Nextys, Jennifer Slegers (Sopko) and her team were recognized for their customer-centric approach for new revenue opportunities. During the holiday season, Carhartt tailored shopping experiences and promotions to expand its customer base, specifically focused on the metrics that matter most, such as retention and purchase frequency.

Congrats to Julia Metaxas, Lulu and Georgia's VP of Growth and one of Chain Store Age's Top Women in Retail! 🎉 One of five marketers selected, Julia caught the judges' eyes for her customer-first approach. As Chain Store Age wrote, "She and her team use the metrics of identification rate, first-time buyer rate and repeat purchase rate to inform channel strategies and deliver profitable growth for Lulu and Georgia."

The more shoppers you can identify, the more you can reach. That’s why it’s crucial retailers increase their identification rates, or the percentage of site visitors they can identify by an attribute — phone number of email address, for example —  tie back to a unified customer profile. Not sure where to start? We’ve outlined four ways to increase your identification rate: ➕ Grow your list with lead capture campaigns on your site ➕ Add JavaScript snippets and purchase pixels to your pages to track user behavior ➕ Round out your customer profiles with email appends ➕ Integrate with a (transparent, ideally) first-party identification network Read more here: https://lnkd.in/eRBax9j2

The key to our company’s success? The Bluecorians who power our platform. Today, we’re shining the spotlight on Shweta Singh Rathore, who was initially drawn to Bluecore’s remote-first environment and ultimately sold on the team’s dedication and values. Get to know her below!

Think of a customer’s first purchase as a trial run. It can be the beginning of a long relationship with your brand — or the end. The most important stage of the customer lifecycle, retention was the star of our most recent Coffee & Commerce event. Joined by a special guest from SPARC Group LLC, our VP of Marketing Sarah Cascone shared: ☕The most important retention metrics, such as repeat purchase rate ☕ Which signals will help you nurture that next purchase ☕ What those signals say about your overall strategy Read more here: https://lnkd.in/gfZGzMyH

When retailers started talking about “the customer journey,” it was a different world. A decade ago, there were far fewer channels, which meant the brand was in control of the journey. Today, the customer is in the driver’s seat. And the savviest retailers are changing their approach to the customer journey accordingly: more nimble, more real-time, more responsive. By realigning around the customers, retailers can drive both short-term revenue *and* sustainable growth. “Rather than feel the heat every time there’s a downturn, retailers with a customer-led strategy have a stable base of active and profitable customers that act like an engine to deliver a foundation of revenue and inform acquisition so that it gets better and more effective over time,” explains our CEO Fayez Mohamood. Fayez shares his insights with CRM Magazine on how retailers can shift from a channel-led to a customer-led approach. Read on here: https://lnkd.in/e_QUzRAS

Retailers must lead with empathy. "We are fundamentally at odds with consumers. We wake up every day thinking, 'How do we get consumers to spend more money?' As consumers, we don't wake up every day thinking, 'How am I gonna spend more money?'" said Bluecore CMO Jason Grunberg, sharing the stage at #CommerceNext2024 with Tapestry's Noam Paransky, SEPHORA's Amber Turley, Ryan Fagan of Lowe's Companies, Inc., and Trybe's Krystina Gustafson.

We dug into the data to produce the first benchmarks report of its kind, focused entirely on customer-led growth metrics, such as identification and retention rates. Based on the entire 2023 calendar year, our report covers 100+ retailers across seven different verticals — apparel, footwear, home goods, health and beauty, jewelry and luxury, sporting goods and outdoors, and toys and gifts — at each stage of the entire customer lifecycle. 👇 See what we found and be sure to check the comments for the full report.