This has been fun. Recently, I’ve been talking to retailers about customer movement. Instead of starting with channel strategies, customer movement is built all around – you guessed it – customers. It’s a philosophy and framework that helps move customers through the funnel as efficiently as possible from unidentified shopper to customer to repeat customer and loyalist--and recaptures those that threaten to leak out. Customer movement helps marketers act more strategically. It helps teams get rid of things they know aren’t working, like sending way too much email and burning out their lists. It helps brands figure out which customers will buy at full-price, and which really need an incentive. It helps brands address the middle of their customer file, which often doesn’t get the right kind of attention. The most exciting part: Customer movement works. Teams that are using customer movement are finding that they are retaining far more of their most valuable customers. Their three-year customer retention rate averages 59% -- more than twice that of those who don’t use customer movement. They’re growing their new customer files and their existing customers are becoming more profitable. Learn more about customer movement and the analytics that make it possible here: https://bluecre.co/49iLlHF
Ryan, always good to see interesting posts for other leaders!
CTO/CIO | Navigating IT strategy & Risk Management | Strategic IT Leader Driving Digital Transformation
2moCustomer-centric strategies like customer movement truly refine marketing approaches and foster lasting customer relationships.