With a keen focus on personalization driving today's retail strategies, retailers are realizing the importance of a sophisticated approach to customer segmentation.
Unfortunately, many marketers are missing a key element of their segmentation strategy: context. A majority (71%) of marketers still look at basic demographics and behavioral data like search and past purchases (62%), according to CMO Council and RedPoint Global. However, only 40% of retailers measure brand loyalty and affinity, and only 22% examine psychographic data.
With a seemingly infinite amount of customer data at their fingertips, retailers must ensure they are using it correctly to learn the right lessons about their customers; make better decisions on how an individual shopper behaves at each point of the shopper journey; which products to sell them; and how to bring them back for future purchases.
This special report will dissect and analyze:
- How retailers can send relevant messages depending on consumers' level within the three-part sales funnel;
- The most relevant data points retailers continue to use (and unfortunately, neglect) as they build out segmentation strategies; and
- How brands such as Adore Me and Nike leveraged customer segmentation strategies to create numerous customer personas and bolster loyalty.