If you have a customer database, you can analyse it and find useful facts.
Facts such as frequent customers using their discount cards on most of their visits. Infrequent customers using their discount cards on fewer of their visits, so missing the reward benefits and reasons to repeat their visits.
Facts such as more of your mortgages are held by customers in Sydney’s western suburbs, though more live in Canberra.
Or that high value purchase customers are infrequent customers.
Finding opportunities like these can enable you to implement more effective marketing – perhaps to reinforce frequent shoppers’ practices, or to encourage occasional customers to shop more often.
Finding opportunities may cause you to review your branch or broker distribution, or to review product profitability to see whether frequent lower value purchases give better profits than occasional higher value purchase.
But the bit that is missing is the “Why?”
Is daily shopping just because the buyer works in an office next door and will shift elsewhere just as happily if they change jobs? Is occasional high value shopping linked to particular emotional states or events? And beyond the obvious Mothers’ or Fathers’ Days, what stimulates those emotional states?
Databases show the opportunity, but may not tell the motivating “why”.
We can add that extra element and help you take a marketing campaign to being a motivating marketing campaign.
If you’d like to ensure your next campaign motivates most effectively, please call or email Philip Derham on T: 0414 543 765 or E: Philip.Derham@derhamresearch.com.au .